What's Happening?
LinkedIn has introduced a new framework called 'Buyability' aimed at revolutionizing B2B marketing strategies. The initiative, developed by LinkedIn's B2B Institute in collaboration with Bain and Company, seeks to shift the focus from transactional to relational
marketing. Mimi Turner, head of marketplace innovation at LinkedIn, emphasizes the importance of trust, relatability, and peer validation in B2B transactions. The framework suggests that B2B marketers should target entire buying groups within companies rather than individuals, fostering collective confidence in their brand. The Buyability model prioritizes becoming a 'safe choice' for organizations, moving beyond mere awareness or demand generation.
Why It's Important?
The introduction of the Buyability framework is significant as it addresses the challenges faced by B2B marketers in a $20 trillion industry. By focusing on relational marketing, LinkedIn aims to provide B2B marketing with the strategic importance it deserves, akin to B2C marketing. This approach could lead to increased trust and credibility for brands, potentially driving business growth. The emphasis on social proof and organizational alignment over price or product specifications could reshape how companies approach B2B marketing, making it more effective and impactful. Marketers who adopt this framework may find themselves better positioned to influence hidden buyers within organizations, such as those in legal, procurement, HR, or finance.
What's Next?
LinkedIn plans to further explore the Buyability framework through a video series launching in November during The Drum's B2B Month. This series will feature discussions with leading marketers on how Buyability can add measurable value to businesses and reshape the future of B2B marketing. As the conversation continues, marketers are expected to gain insights into implementing Buyability strategies effectively, potentially leading to a broader adoption of relational marketing practices across the industry.
Beyond the Headlines
The Buyability framework highlights a cultural shift in B2B marketing, where emotional connections and trust are becoming as crucial as traditional metrics like price and product features. This approach could lead to long-term changes in how businesses perceive and engage with their clients, fostering deeper relationships and loyalty. The emphasis on being a 'safe choice' aligns with broader trends in consumer behavior, where trust and reliability are increasingly valued.
