Business success in today’s ever-changing market depends on attracting new customers, maintaining relationships with existing ones, and driving growth. While a lot of emphasis is placed on marketing to consumers in the market to buy, it is equally important to focus on out-of-market buyers. These are potential customers who aren’t interested in purchasing goods or services at the moment. By advertising to them, you place your brand at the forefront of their minds, so when they do start considering new purchases, your brand will be the first one that comes to mind. Let’s explore the importance of advertising to out-of-market buyers and how to build brand visibility among them.
The Importance of Advertising to Out-of-Market Buyers
Up to 95% of business buyers are not actively seeking goods and services at any given time. This fact can be discouraging for marketers who are trying to grow their brands. However, advertising to potential buyers who aren’t currently in the market can actually help build your brand. When out-of-market buyers do enter the market, your brand will be one they are already familiar with. It’s important to remember that brand loyalty is built over time, and even though a buyer may not be ready to make a purchase right now, they may be further down the line.
The role of mental availability in branding
Mental availability, also known as brand salience, refers to the likelihood of a brand being noticed or thought of in buying situations. When a brand is mentally available, it is more likely to be the one that comes to mind when a potential buyer needs a related product or service. Building both mental and physical availability can make a brand easy to buy. Mental availability is different from general brand awareness, which measures how well people know your brand, but does not always translate to purchase intent. On the other hand, mental availability is a strong indicator of purchase intent.
Strategies for increasing mental availability
When marketing to out-of-market buyers, the most important objective is to increase the mental availability of your brand. This requires building and refreshing memory structures that connect your brand to the specific needs or desires that potential buyers are most likely to experience. Here are some strategies that can help:
1. Consistency in messaging
Consistency in messaging is key to building and maintaining memory links to your brand. Make sure that your branding, visuals, and messaging remain consistent across all channels, from social media to email campaigns, to print materials. This consistency helps to reinforce the memory structures in the minds of potential buyers.
2. Build emotional connections
Another way to increase mental availability is by building emotional connections with potential buyers. Brands that evoke an emotional response are more likely to be remembered. This could be achieved through storytelling, humor, or social causes that your brand supports.
3. Leverage social media
Social media is an excellent tool for building mental availability with out-of-market buyers. Utilize your social media channels to maintain a consistent brand presence and engage in conversations with prospective buyers regularly. Share content that is relevant to your target audience and industry trends. This will help to keep your brand top of mind.
4. Create shareable content.
Finally, creating shareable content can help increase mental availability. By creating appealing and easy-to-share content on social media, you can expand your reach and increase the likelihood that potential buyers will remember your brand.
Marketing to out-of-market buyers is a long-term strategy that can help grow a brand. Increasing mental availability is key to making a brand easy to buy. Building and refreshing memory structures that connect your brand to potential buyers is an effective way to increase mental availability. By utilizing consistency in messaging, building emotional connections, leveraging social media, and creating shareable content, businesses can reach out-of-market buyers and make their brands more memorable.