The Halo effect is a cognitive bias that drives a consumer towards a product or service. It tempts them to purchase due to positive responses to a related product/service, or even that of the seller. The effect arises due to the brand’s perception, and its loyal consumer base who contribute to the brand equity.
From a business point of view, you can use cognitive bias to your advantage. A supportive community can be advantageous for allies. Use them to project your brand and your offerings in a positive light to improve your brand’s demand generation.
The halo effect is everywhere
If you look closely, the halo effect is everywhere in the B2B industry.
Before making any purchase, small or large, a consumer usually seeks the opinion of friends, family, colleagues, or even industry experts. They may also go through customer testimonials to get a better idea of your product or service. A testimonial can help warm prospects as they enter the sales funnel for the same or similar products or services.
Take a look at this scenario. You have a wide range of products and services on the market. Through audience analysis, you zero in on one and promote it vigorously. Once the product/service gains traction, it’ll reflect on your other offerings as well. Puma shoes are one of the most trusted and popular products. The popularity of footwear has eventually led to an increase in the sale of Puma golf balls as well.
Here’s another example. As a growing B2B company, you collaborate with an industry expert on a project. The expert joins you as a guest speaker for a webinar. The expert’s loyalists would automatically extend their trust to your brand, and you could gain prospects. You can also share their content on your social media pages and drive their followers to your page.
Here’s how you use the Halo Effect for Demand Generation!
The foundation of any marketing campaign is only strong if you’ve nailed the audience research. If your research is thorough and exact, the effect will be more pinpointed. That said, in this section, we discuss what you can do to strengthen the halo effect.
Make a good first impression
The key to ace demand generation is to create an unforgettable first impression. One of the first things that a prospective customer will probably notice is the aesthetic design and quality of the content. They must reflect your brand values, which will then translate into their expectations. Also, ensure that you optimize your content so that the loading time is minimal. These small steps would entice the prospect to return to you.
Highlight your USPs
Identify what makes your brand unique and take steps to highlight it. Say, a certain product is high-performing but also costlier. Showcase the strengths, which will then automatically justify the price as well. Consider another example: your long-term beneficial service also takes some time to reflect its efficacy. Create a halo effect for your entire brand and use it to shift focus solely on your USPs to overshadow something undesirable (like a high price or a long implementation period).
Sell the experience
For every product/service that you offer, there will be numerous other companies offering something similar. For you to stand out, you’ll have to offer something more. When developing demand generation strategies, keep experience in mind. You must elevate the purchase experience, which you’ve been able to do through an in-depth understanding of their needs. https://www.istockphoto.com/photo/network-of-business-concept-gm1127447341-297153851
Impress through social proof
Social proof is the most common halo effect strategy. When you frequently share the satisfied experiences of existing customers, you’re instead reflecting your unmatchable work standards. You’re raising the bar of expectations for your prospective customers while assuring them of equally good service.
Use the power of influencers
Collaborating with an industry expert, better known as a social influencer or social media influencer, is the most commonly used tactic to achieve the halo effect. You can also partner with a business that has similar brand values. Co-host events, promote each other’s products/services, share each other’s content, engage in social media posts, and so on are a few things you can do for each other’s benefit. The options are endless. The intention is to expose your brand to an unexplored yet matching audience base. And use the loyalty earned by your partner to bring the prospects into your sales funnel.
The halo effect is no doubt a great way to generate demand for your brand and its offerings. It eventually acquires leads with intent. However, that’s not the only way. Resolute B2B, with over five years of lead generation experience under its belt, offers a wide range of lead generation services. We have substantial proficiency in handling data enrichment, appointment generation, webinar registration, ABM, BANT, and email marketing campaigns. If the need arises, please contact us at firstname.lastname@example.org. We hope to hear from you soon.