June 12, 2019 | Article | Advertising, Social Media
5 Takeaways from LinkedIn’s T3: Trends and Tacos
Earlier this month, the REQ team attended LinkedIn’s B2B Trends Seminar in Washington, DC to see Peter Weinberg, a renowned marketing strategist, present on the future of business-to-business marketing and what he predicts will be the most effective strategies moving forward.
5 Key Takeaways from Peter Weinberg’s Presentation
1. Replication: The Key to Success
Peter described how the affinity for one-of-a-kind campaigns -- like the infamous Oreo ad during Super Bowl XLVII -- is hurting brands. We might love these non-replicable marketing campaigns, but they rely solely on luck to be lucrative. Replication of successes is the only way to be positive your methods are working. If a strategy shows continued success, not just a one-hit-wonder, you can build on it.
However, this is not to say you can’t get creative with your replications. Using Nike’s iconic tagline, “Just Do It,” as an example of a strategic replication, Peter noted new and exciting messaging can grow from a structure consisting of an abundance of empirical data.
Peter mused, “Think about every Disney movie you’ve ever watched, what’s the plot line? Lead character gets lost and has to find his/her way home, right? This exact narrative has made Disney and Pixar billions of dollars simply because it has been proven to work time and time again.”
2. The S.C.O.R.E. Algorithm
S.C.O.R.E. is an acronym for Structure, Contrarian, Ownable, Replication, and Expertise. This method is used to measure the results of qualitative data that is otherwise nearly impossible to record in a constructive format.
Structure: the consistent template/design of the campaign you wish to use
Contrarian: zig while others zag - the information you present needs to be unique to rise above the noise.
Ownable: what makes your campaign distinctive? How will audiences recognize you?
Replication: how can this campaign show longevity for consistent success?
Expertise: the reason to listen and believe in your message.
Especially in crowded, competitive markets, brand and campaign messaging needs to check the boxes of S.C.O.R.E. to ensure the qualitative features lead to measurable, quantitative success.
3. The Myth of Small Bets
It goes without saying that big bets can be risky, but small bets are even more because many never see results. With a well-researched, thought-out strategy educated “big bets” lead to even bigger payouts. It is no coincidence, Peter said, companies such as Warner Bros Production continue to see the biggest results on productions they research heavily and spend the most on.
4. Click Through Conspiracy
The digital marketing industry is still paying for clicks, but is this the most effective form of tracking our analytics? According to Peter, clicks have no relevance to leads. Instead, Peter suggests we focus on number of impressions made, and total reach.
5. Quantum Marketing
The world around us is as unpredictable as it gets, so why do B2B marketers continue to assume they can predict the actions of their target audiences? Brands must market for the unpredictable and go broader. Instead of “right person, right place, right time” change it to “right persons, right messages, right times;” broadening your reach increases the likelihood of creating a lasting impression, and securing solid leads.
To summarize, this is how you can implement these ideas into your marketing strategy
Find ideas easily replicable
Familiarize yourself with and implement the SCORE algorithm
Bet big and bet educated
Measure total reach NOT clicks
Design for the unpredictable.