In a special Promotion Fix column, I reveal new B2B marketing effectiveness research that Les Binet and Peter Field unveiled yesterday at a LinkedIn event in New York City:
The most effective practices in B2B marketing are mainly the same as in B2C because the two are actually not polar opposites, according to new findings from noted British researchers Les Binet and Peter Field that I have exclusively obtained for The Drum.
Binet and Field are most famous for The Long and The Short of It, a popular 2013 book published by the UK’s Institute of Practitioners in Advertising (IPA) that recommends specific best practices in balancing short- and long-term marketing strategies. The two updated their findings in a presentation at EffWeek in London last year.
LinkedIn commissioned Binet and Field to study the same issues in a B2B context. The two presented their results at a private LinkedIn event in New York City yesterday (22 May). LinkedIn exclusively shared the major findings with me and The Drum in advance of a planned public release later this year. The new research uses Binet and Field’s prior methodology but isolates the B2B case studies in the IPA’s databank.
“Binet and Field’s research has the potential to radically reshape the marketing industry by re-orienting marketers towards brand building strategies,” Peter Weinberg, global lead of market development at LinkedIn Marketing Solutions, said. “Unfortunately, most B2B marketers are unfamiliar with this research, and the research itself does not distinguish between B2C and B2B marketing.”
“We saw an opportunity to popularise Binet and Field’s recommendations among our client base by commissioning a B2B cut of the data. In particular, we’re trying to show our B2B clients that investing in both brand and demand is a more effective strategy than investing solely in lead generation.”
Binet is head of effectiveness at the London communications agency adam&eveDDB. Field is a marketing consultant.
“Peter Field and I spent the last 12-13 years trying to understand how B2C marketing works, and I think we’ve made quite a bit of progress,” Binet said in an interview. “We’ve established that there are some broad principles and rules that you need to follow. But nobody’s ever been sure whether the same rules apply to B2B. We’ve now reached the point where we’ve got sufficient data to begin to do a bit of tentative analysis.”