As a strategic tool for building value, branding is often misunderstood by business owners as being a tactical element of marketing.
However, the landscape is changing fast and branding is now a critical part of growing a successful business. Branding can build value.
In B2B, brands have never mattered more
Decisions made on which supplier, product or service to select are highly considered. The old adage of no-one ever got fired for choosing IBM was based on very rational decision-making – IBM was perceived as the safe bet. Today, buyers are more emotional in their decision-making. They select brands based on their personal values and beliefs about the brand, as well as the rational business considerations.
So how do you cut through this decision-making and give your business the best chance?
By being more human. More relevant.
This requires your brand story to cut through the rational whilst demonstrating a human connection with your customer.
Trust is the cornerstone
B2B branding is more challenging than consumer branding, because the relationship has to be built on trust, not just trust right now but also trust in what the future will be like with you as a partner. Business audiences are looking for the relationship way beyond the product or service purchase.
They want to know you’ll be there for them if something doesn’t work, they want to know what the people they’ll be working with are like. They want to be reassured you’re a partner not just a supplier.
But how do you get trust from branding?
By being authentic.
By demonstrating you operate within a core set of values that align with your customers (and employees, suppliers and prospects) and by having character, which provides genuine insight to working with you.
All too often in B2B character and personality is lacking. It is time to be brave and set your brand free from the perceived rigidity of a corporate world. Creativity is a key weapon in the B2B armoury; helping you stand out, setting a tone of voice that reflects the personality and expertise within the business.
Bottom Line thinking
Because the companies that dominate in the market share and market value end have all built enduring brands. In the UK, companies like Rolls Royce, BAE Systems, Standard Life and Eddie Stobart have carefully created and built their brands, investing in them over time.
But don’t just take my word for it, take a look at Interbrands Best Global Brands 2014 to see how branding truly builds value.
If you’re not building a brand, what value are you building?
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