4 KEYS TO MARKETING B2B CHALLENGER BRANDS
Most B2B industries have similar competitive landscapes: a couple of manufacturers that can be considered big fish, a handful of small niche players, and then a few challenger brands stuck in the middle. These challenger brands own a fraction of the market larger than the niche players, but may lack the sales and marketing resources of the big fish.
These challenger brands, it’s important to note, are our specialty at Ivor Andrew.
As a B2B industrial marketing agency owner, I love working with challenger brands. They tend to be more ambitious, willing to take risks, and generally open to creative marketing messages and innovative marketing strategies. They need to be, considering they’re fighting an uphill battle as they gain visibility and sales from the big fish that own the majority share of voice and market.
The right marketing strategy for B2B challenger brands can disrupt markets and redistribute attention and buying decisions in their favor. Here are four keys to getting started.
1. EMBRACE THE UNDERDOG MINDSET
Some end users insist on working with the biggest or best-known vendors in an industry. The old adage “No one ever got fired for choosing IBM” reflects the safety that comes from working with the biggest fish. Don’t spend too many resources trying to break into businesses that are already brand-loyal.
Other customers—your customers—are eager to work with vendors that are humble, hungry and innovative. Owning that mindset and communicating it will attract the right kind of business. You don't need to sell to everyone. Focus on marketing to the customers that believe what you believe.
Remember, working with the big fish can be off putting. They tend to be more rigid, more expensive and less responsive.
2. STOP FOLLOWING THE BIG FISH
It’s impossible to forge your own path when you're chasing someone else.
In my 23+ years in industrial marketing (on both the client- and agency-side), I’ve lost count of the number of times a boss or client has asked me to emulate a campaign that a large competitor was running. More often than not, the request was paired with an execution budget that was a fraction of what the competitor was likely spending on their campaign.
Stop copying the big fish. Going head to head using similar tactics and messaging is a surefire way to be ignored. In addition to being drowned out, you’ll alienate prospects and customers, as they want to work with a thought leader, not an also-ran.
3. PICK A LANE AND OWN IT
Even though you’re in the same industry and likely sell similar products, your identity is not inexorably linked to the big fish. Once you’ve committed to not copying the big fish, you need to honestly answer a handful of questions:
What makes us different?
Why should anyone care?
How can I use this to stand out?
Contrast is essential to stand out and get your message noticed. For example, if the big fish is known as the technology or innovation leader, you need to pick a lane that gives contrast. Perhaps it’s dependability, tenacity or accessibility. Maybe you’re made in the United States. Our maybe you offer comparable quality at a lower price point. Whatever your differentiator is, identify it and use it.
Contrast doesn’t just apply to your marketing message; it needs to be reflected in your tone, visuals and tactics. After developing a message that plants your stake, don't be afraid to be bold in the tactics that you use to get it out there. Big fish have the luxury of being dull in their marketing initiatives. Challenger brands do not.
4. SHOW YOUR HUMANITY
In our experience, the marketing messages and tactics of industrial B2B big fish tend to be cold, calculating and safe. This leaves openings for challenger brands that are willing to show their brand’s humanity and unique personality.
One note of caution: this personality cannot and should not be developed in a vacuum. It needs to be rooted in who your company is and who your customers believe you to be. Forcing a false personality can do damage to any brand, but can be fatal for challenger brands.
CONCLUSION: BE FEARLESS AND BE YOURSELF
As the saying goes, fortune favors the bold. It’s not easy to stand out, but if you do, exciting growth is not far behind.
Take pride in who you are and own your identity. And most importantly, find a marketing team that can convincingly communicate that identity in unique, relevant and memorable ways.
