OK, so first things first: want to know what a powerful brand looks like?
What we’re talking about here is something that sets your company apart, builds customer loyalty and attracts the best talent. A great brand also allows you to charge a premium for your products and services AND measurably increases the value of your business*.
(*For real! Check this out: The latest research from McKinsey shows that the earnings (EBIT) of companies with strong brands was 20% higher than those with weak brands. Nope, that’s not a typo: twenty per cent: imagine what you could do with all that lovely extra money!)
So we know for sure that brands are earning their keep in the b2b arena. But what makes a strong brand?
1. Strong b2b brands carry a simple promise
The complex nature of b2b sales can sometimes make the idea of a single brand promise seem like a bit of a red herring.
But here’s the secret: with a strong brand promise under your belt, the complexity of b2b buying can actually become your friend: a compelling promise will help your prospect to quickly understand why your solution is the right one, and move them closer to a buying decision, faster.
2. Strong b2b brands flex with change
We recently had a client in need of a re-brand because their buyer profile had changed from IT managers to marketing managers: someone with a completely different set of needs and priorities. They were smart to spot the change, and are going from strength to strength as a result.
The fact is - as b2b marketers - our market, our buyer and our competition is changing all the time. Powerful brands move with the times, ensuring they’re always relevant to the people they need to influence.
3. Strong b2b brands are thought leaders
Anyone who’s ever worked in procurement knows that selecting a new supplier is a research-intensive business, filled with more features, choices and benefits than any normal human being can evaluate.
This presents a golden opportunity for marketers: if you can get in early, educate your market and build their trust, you already have a head-start when it comes to making it onto the shortlist.
To learn more about the different types of brand archetypes and how to harness their power, download our Hero, Explorer or Outlaw: Which archetype is your brand? ebook today.
Brand chemistry is a strategic brand agency. With more than 10 years experience building brands, we know what it takes to stand out amongst your competitors. Take a look at our client case studies to find out more.