According to Gartner, buyers spend just 17% of the time talking to vendors during the buying process of a new solution.

That means you have to meet them during the other 83% of their journey, which is their self-education process.

In today's episode, we discuss how B2B technology companies can effectively get invited to the purchasing process.

And it's all about navigating the buyer's journey. And meet them where they are since they start to self-educate on problems and solutions.

We'll cover the importance of understanding how buying decisions are made, why traditional sales outreach may be ineffective, and the critical role of the customer's self-education before and during the buying process.

We'll introduce the concept of the market infrastructure or ecosystem pyramid to illustrate how to influence the various layers of decision-makers and improve brand awareness.

We'll provide actionable steps to researching market perceptions (positions), establishing relationships, and leveraging credible third-party endorsements to build a reliable ecosystem.

00:30 Understanding the Buyer's Journey

01:18 Challenges in Sales Outreach

01:56 The Role of Research in the Buying Process

04:08 Statistics on Buyer Behaviors for B2B Software

06:56 The Infrastructure/Ecosystem Pyramid Concept

08:33 Developing Market Ecosystem Strategies

18:19 The Importance of Market Perception

21:54 Actionable Steps for Implementing Strategies

25:42 Conclusion and Resources

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In this episode, we discuss the application of B2C marketing tactics within B2B high-tech products.

We'll explore the effectiveness of traditional and social media advertising for B2B products, the role of peer recommendations and third-party reviews in the B2B buying process, and the importance of addressing the buyer's risk assessment.

We highlight the different considerations, such as the decision-making unit in B2B purchases and the stage in the buying journey, arguing for a more nuanced and strategic approach to B2B advertising, focused on education, trust-building, and alignment with the customer's buying timeline.

Join us to build unstoppable product growth!

00:00 Opening Greetings and Introduction

00:23 Diving into B2C Marketing for B2B Tech Products

01:14 Exploring the History and Impact of Advertising

05:02 Questioning B2C Tactics in B2B Contexts

08:23 The Role of Advertising in B2B Decision-Making

11:48 Evaluating Advertising's Effectiveness and Strategy

19:39 Understanding Buyer Behavior and Trust in Advertising

26:01 Adapting Advertising Strategies for B2B Markets

31:22 Concluding Thoughts and Farewell

Welcome to the Unstoppable Product Show!

Join us today to learn the pivotal role of building a perception of a reliable vendor to drive customer trust and reduce risk perception.

Discover how building for reliability can enhance buyer's confidence and drive sales for your tech/saas solutions.

Get a free GTM Strategy health audit that includes these elements and more at www.predictableinnovation.com

00:00 Welcome to the Unstoppable Product Series

00:22 Diving into Reliability: The Third Pillar of Low Risk Reinvention

04:30 Exploring the Six Elements of Reliability

04:39 The Importance of Team, Investors, and Advisors

07:25 Brand Awareness and Its Impact

11:32 The Role of IP and Patents in Demonstrating Category Commitment

13:18 Product Roadmap: A Key to Future Planning

17:17 Market Vision vs. Product Roadmap

22:56 Partnership Strategy

31:47 Concluding Thoughts on Low-Risk Reinvention (Low-Risk Value Proposition™)

Listen this chapter to learn the second bucket of the Low-Risk Reinvention framework: affinity to the buyer and end-user to reduce the perception of buying and adopting your product.

Along this chapter, we'll emphasize the importance of understanding the customer, providing trial periods, and aligning the product with the customer's values and workflow.

Examples of successful implementations, such as Vermont's COVID vaccination program, Microsft's Office 265, Amazon, and others innovations, highlight the effectiveness of these strategies in reducing risk and driving adoption.

Takeaways

• Understanding the customer and showing affinity is crucial in reducing risk perception and driving adoption.
• Trial periods and trial-before-commitment options can significantly lower the risk perception for potential customers.
• Aligning the product with the customer's values, workflow, and familiar channels increases the likelihood of adoption.
• Evaluating, integrating, and providing reliable customer support is essential in building trust and reducing risk.

Chapters

00:00 Welcome to the Unstoppable Product!

00:09 Diving into Low-Risk Reinvention

02:19 Exploring the Affinity Bucket

04:48 Domain Expertise: The Key to Affinity

07:36 The Power of Familiarity in Product Adoption

13:25 Workflow Integration: Ensuring a Smooth Transition

19:46 Trial Before Commitment: Reducing Risk Perception

23:54 Unlocking the Power of Trial Periods

24:50 Competitive Edge with Free Trials

26:05 Innovative Trial Strategies for High-Value Products

27:44 Supporting Evaluation and Adoption

33:20 Value Alignment: The Key to Customer Satisfaction

38:27 Leveraging Trusted Channels for Effective Marketing

43:43 Wrapping Up: Low-Risk Reinvention Series

Get our help to close more clients by reducing the risk perception of your product at www.predictableinnovation.com

Today, we'll introduce the concept of risk perception in technology buyers and how it plays a critical role in your growth. We'll showcase 6 of the 18 elements we've observed, which are the ones a company must build around its core product to sell more to the risk-averse mainstream customers. This episode is one of three in which we'll introduce the 18 elements to lower the risk perception of your value proposition and sell more. This episode of the Unstoppable Product Show focuses on helping CEOs and executives in the high-tech industry become market leaders through the low-risk reinvention approach. The conversation begins with reflections on how the world is becoming riskier and the importance of managing life and technological risks. The hosts introduce a framework based on the behavioral science of the diffusion of innovations, aiming to teach listeners how to achieve go-to solution status in their markets by understanding and leveraging customers' risk profiles. The recent cyber attack on United Healthcare serves as a springboard to discuss the critical role of cybersecurity in risk management. The episode then dives into the 'Assurance Bucket' of the low-risk reinvention model, detailing six elements (standards/certifications, security/privacy, sponsorships/associations, complimentary products and services, customer references, and peer-to-peer interaction) essential for reducing the risk perception of technology products. Each element is explained with concrete examples, including the impact of standards like ISBN on Amazon's success and the pivotal role of Microsoft's ecosystem in selling Azure services. The aim is to provide high-tech leaders with actionable insights to decrease perceived risks and strategically position their innovations for wider adoption. 00:00 Introduction and Greetings 00:53 The Unstoppable Product Show: Chapter 3 01:20 The Low-Risk Reinvention: Innovations and High Tech Products 02:00 The Recent Cyber Attack on United Healthcare 02:58 The Impact of the Cyber Attack on the Healthcare System 03:10 Understanding the Diffusion of Innovations 04:17 The Importance of Risk Avoidance in Product Success 05:19 The Different Flavors of Risk 06:25 Introducing the Low Risk Reinvention Model 06:50 The Assurance Bucket: Reliability, Affinity, and Assurance 11:36 The Power of Standards and Certifications: The ISBN Example 16:09 The Importance of Security and Privacy 20:10 The Role of Sponsorships and Associations 23:07 The Value of Complementary Products and Services 34:20 The Power of Customer References 16:12 The Impact of Peer to Peer Interaction 42:41 Conclusion and Preview of Next Chapter

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Join our discussion about the differences between mainstream and early markets, specifically targeting adopter profiles and value behaviors. We use examples from major tech companies like The New Apple Visio Pro, Microsoft, and Amazon and their product innovations to explore the diffusion of innovations, risk perceptions, complete solution concepts, and adopting a diagnostic selling approach.

You'll learn insights into how these companies leveraged familiar tools and targeted specific use cases, gradually introducing new features and intangibles to reduce risk perception and accelerate your product adoption (aka sales).

00:00 Introduction and Welcome 00:34 Understanding the Differences Between Mainstream and Early Markets 01:00 Exploring the Use Cases of Apple Vision Pro 02:17 Discussing the Buying Behavior Towards New Innovations 09:26 The Role of Risk Perception in Adoption of Innovations 18:28 The Importance of Complete Solution in Product Adoption 29:13 Case Study: Microsoft's Strategy in Introducing Cloud 33:57 Conclusion and Wrap Up

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Welcome to the Unstoppable Product Show!

In this episode, we'll discuss the case of Akili's pivot in its target market and the importance of target market selection for success.

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