What is the 95-5 rule?
- 95% of marketers are driving brand awareness
- 95% of buyers are out-of-market at any given time
- 95% of buyers are in market at any given time
- 95% of brands have a brand strategy
Explanation:
The correct answer is 95% of buyers are out-of-market at any given time. The 95-5 rule, according to LinkedIn, reflects the understanding that the vast majority of potential buyers are not actively seeking products or services at any given moment. This underscores the importance of brand building and maintaining a consistent presence in the market to capture the attention of potential customers when they do enter the buying journey. By acknowledging that only a small percentage of buyers are actively in-market, marketers can tailor their strategies to engage with both in-market and out-of-market audiences effectively. This rule highlights the need for long-term brand-building efforts to establish brand recognition, trust, and preference, ensuring that when buyers do enter the market, they are more likely to consider the brand due to its established presence and reputation. Therefore, understanding and applying the 95-5 rule can significantly influence marketing strategies, emphasizing the importance of sustained brand visibility and engagement to effectively reach and resonate with potential customers throughout their buying journey.