B2B Marketing 101: The Werther effect
B2B Marketing 101: The Werther Effect (mimicry). The petrol shortage in the UK is a perfect demonstration of this. i.e. Too many people are rushing to buy petrol at the same time.
The Werther effect was initially noted in a completely different scientific context, but its mimicry elements have been well noted and applied to marketing. One of the most influential marketing books of the 21st Century 'Influence' has a whole chapter dedicated to purely the Werther Effect in marketing. In essence, it means when we show other people doing or buying something, this has the effect of getting more people to do or buy the same thing. 'Mimicry marketing.' And this effect is accelerated when people feel they are 'missing out' on something.
We can see this 'mimicry' effect in action with a tsunami of consumers rushing to the petrol pumps. According to the head of the HGV drivers union in the UK there were always going to be petrol shortages because of a lack of drivers. But this is now being exacerbated by the 'mimicry' Werther effect creating a sudden rush.
So as B2B marketers, how do we tap into this ourselves? To create this sudden rush of customers? Well, one way is to show how buyers can miss out when they don't have our product. And secondly, to show a ton of other customers buying our solution. So for example, if we've filmed a load of customer testimonials, to stitch these together to show lots of customers talking about our product. And within the customer testimonials, to consistently ask questions around 'missing out.' i.e. What was the situation before they bought your product?
Because repurposing our marketing is more than just chopping a few bits and pieces together and by applying principles like the Werther Effect. It can instead be a powerful tool. In this case, repurposing by using the Werther effect to generate more demand.
And to do it with video because this isn't the 1970s. Potential buyers need to trust what we're saying and the strongest proof of all is video. Because if we flip the marketing around, who do you trust more, the business trying to sell to you or their customers who have bought the solution? And showing lots of customers on video saying they would miss out without buying your product is the ultimate proof. The kind of proof that creates tremendous demand.
For more ideas, please visit our blog at: https://www.fnxmedia.com/blog - Don't miss out!