Did you know that most sales reps don’t use sales collateral created by marketing? In fact, research conducted by HubSpot reported that 90% of sales content created by marketing goes unused. Why? Because the sales process has evolved, but marketing hasn’t kept pace. That’s where third-party marketing comes into play. Let me explain…
Consumers Don’t Trust Companies
Over the past few decades, consumers have witnessed companies make a series of troubling decisions. Tobacco companies lied about the impact of their products on our health. Big pharma raised prices on life-saving drugs while pushing doctors to prescribe addictive opioids and other harmful treatments. Wells Fargo created fake bank accounts and dodged responsibility even in front of Congress. Volkswagen lied about the emissions impact of their cars. Leading oil companies concealed research into their impact on climate change. Needless to say, consumers no longer trust companies, sales reps, or marketing speak.
Buying Behavior Has Changed
This shift in trust has drastically changed the way buyers interact with companies, conduct purchasing decision research, and the time they spend researching. Forrester research shows 68% of B2B buyers prefer to conduct research independently online, and 60% of buyers do not want a company sales rep to be their primary source of information. Demand Gen’s B2B Buyer’s Survey found that 58% of respondents said they increased the length of their buying cycle year over year.
According to the Edelman Trust Barometer, consumers now consider technical experts, academic experts, and “a person like yourself” as the most credible sources of information. Hence, the rise of third-party marketing programs like 3rd Party People, Influencer Marketing, Analyst Relations, and Peer Review Sites. Demand Gen also reported that 96% of B2B buyers want content with more input from industry thought leaders.
Marketing Must Adapt
So, why haven’t marketing departments flipped the script?Why are we still focusing on creating first-party content instead of leveraging third-party content from industry influencers and customer reviews? The answer is simple: these voices are more credible than our own as companies, sales reps, and marketing teams.
If you’re a marketing pro, I’d love to hear your thoughts! If you’re in sales, please share your experience. Leave a comment below!
Why Third-Party Marketing Matters
Third-party marketing is essential in today’s business landscape because it builds trust and credibility. By incorporating insights and endorsements from industry thought leaders, technical experts, and peers, companies can bridge the trust gap with their audience. This approach not only aligns with current consumer behavior but also enhances the effectiveness of marketing strategies.
In an era where information is abundant, and trust is scarce, third-party marketing stands out as a powerful tool to connect with consumers on a deeper, more authentic level. It’s time for marketing departments to evolve and embrace this paradigm shift.
Feel free to share your experiences and insights in the comments! Your feedback is invaluable.