The C suite is breathing down your neck. You have a quota to reach. You heard ads can help you sell products faster. But where to begin?
When I first started my career in digital marketing, deciding where to start was tough. There are so many paths you could take. But, I learned that what matters most (and always converts best) is being crystal clear about your product’s unique selling points – and how to buy what you’re selling. I’m going to spare you the talk of how to get your marketing mix right, and which channels to use. We’ve talked about that before, and you can find those assets here. Today, we’re going to talk shop about how ads can help you win the B2B Marketplace channel.
The big takeaways:
1) Not all ad units are created equally
2) Get clear on your funnel touch points
3) Map your ad units to your funnel touch points
1) Not all ad units are created equally
Ads are not one-size-fits-all all. You should not expect instant sales from a display ad. I wish it were so, but it rarely is. The only exception is a display ad about a product drop that comes from a beloved brand – and was hyped up. Your mission if you choose to accept it: Build that hype machine. One that does the work for you, while you’re off the clock. That’s why ads exist.
On B2B Marketplaces, you’ll encounter two main ad types: Visual creative spaces, and visibility boosters. While this is a simplified way to think about it, it’s a useful starting point because these two ad types have two different Levels of Effort (LOE).
Visual creative spaces are all about eye-catching design. Think of these display ads as prime real estate for banners and clickable squares that are sprinkled around a retailer’s shopping experience. Similarly, emails are essentially clickable images designed to catch attention. Do you have a creative team? If not, would learning how to design display or email ads be worth the time? The choice is yours, but great visuals often translate to great results.
Visibility boosters, on the other hand, amplify what you already have, so they reach more retailers. It’s a simpler approach that doesn’t require designing anything new, just maximizing the visibility of what’s already working.
I’m assuming you’ve already branded your store and dolled up your product listings to make them super shoppable. If not, open this link and read it next. That leads me to your next big takeaway:
2) Get clear on your funnel touch points
What is the retailer’s journey to find what you’re selling? Think about that for a minute. In B2B marketing for the cannabis industry, it takes 3-8 touch points to get a sale.
A useful mental model is the funnel:
Top of funnel is the awareness stage.
Middle of funnel is the consideration stage.
Bottom of funnel is the conversion stage. (Aka orders/ sales)
The more you load into the top of the funnel, the more likely you are to get sales. When you’re famous, and everyone knows your brand name, life is so much easier! It’ll be even easier, if your message meets your customers where they are in their buying journey.
On LeafLink, a retailer starts on the dashboard, clicks over to the Shop page, and can take a few different paths to find your menu. They’re either going to search for your brand name or search for a product category to fill an empty space on their shelf. From there, they’ll click through to your brand’s online presence. On the LeafLink Marketplace, this is called a menu.
On LeafTrade, this is called a storefront. They’re essentially the same thing – an ecomm website. It’s a palace where retailers can see what you have for sale, consider whether it fits into their product mix, and place an order – or not.
Retailers rarely buy on the first click and for good reason. They’re navigating their own challenges: budgets, ambitious goals, and maintaining healthy profit margins. Keep that in mind when you’re setting your Manufacturers Suggested Retail Price (MSRP). It’s not just about the price tag; it’s about fitting into their bigger picture.
3) Map your ad units to your funnel touch points
Your top of funnel ads should cast a wide net, showcasing your brand name and building awareness. Think of it as planting the seed so your audience knows what to search for when they’re ready to take the next step.
Middle of funnel ads are where things get more targeted. Show these to people who are familiar with your brand name, and who want to know what you're selling. Focus on introducing products and elaborating on the message in your top of funnel ad. This is your chance to turn curiosity into genuine interest!
Bottom of funnel ads are the last step. These give customers a reason to order NOW. Hone in on your value proposition and introduce messages that create urgency. Is this a product in high demand? Create fear of missing out. Do you have an available promotion you want to share to move product sitting in your warehouse? This is a great place to do it.
This visual illustrates which ad units influence which parts of the funnel on the LeafLink Marketplace:
Use this campaign framework to design your next campaign.
Launching a new product to a new market with an unknown brand? Take it from the top of the funnel, and campaign your way to the bottom of the funnel.
Launching a product with a familiar brand: Take it from the middle of the funnel.
Reengaging customers who haven’t purchased from you in a while? Take it from the top or the middle of the funnel. Put yourself in their shoes and think about what they’d need to know to buy from you.
There are exceptions to every rule, and at the end of the day, your brand voice and your ad creative will make your ads convert, from hello to LET’S GO, or be ignored like the panhandler on the side of the highway. Do what is best for your brand and your goals.
Use the campaign framework above and think about your:
Ad Campaign Goal
Schedule
Unique Selling Point
Promo Offer
Brand Guidelines
Creative I need to assign/ create + Due dates
(Give your designer at least 2 weeks to do good work.)
Consider the campaign framework above as your cheat sheet for designing an ad campaign on LeafLink. Circle the ad units you’ll use to reach your goals. Then go forth and prosper.
Ultimately your ad campaign strategy is yours, so do what you think will convert best.