Many giant B2B brands have renewed their drive towards top-line revenue growth. They are achieving this by simply acknowledging the critical role B2B branding plays in profitability and growth, and realigning their marketing strategies to reflect this.
What is B2B branding?
B2B or business to business branding is described as the process of making a unique name and image for a business that transacts with other business. Although it has been said that B2B branding is different than B2C, truth be told, they are relatively the same. Both types of businesses are selling to a “consumer” whether this is another large enterprise or a customer at a retail store. Therefore, there are many reasons as to why B2B brands need to invest in brand marketing;
1. Brand marketing tells your story
Every brand needs a story that their customers can relate with. Most growing B2B businesses have a story that supports their business strategy. Defining your business around the benefits you provide to your customers is an excellent way of building a story around your business, and thus building that connection with your consumer.
You should intentionally link your brand and your business strategy to ensure every transaction reflects what your brand stands for.
A brand that is purpose-built for the company’s overall objective has an easy time living up to its mission. In addition, when customers know what you believe in, they can see what value you are bringing to the table. If they connect with your values, it becomes that much easier for them to support your brand.
2. Builds Credibility
B2B brands like to make purchases from companies they know and trust. Aside from going above and beyond to ensure your service delivery is top notch, you also need to invest in getting the word out.
In today’s dense marketplace, credibility is the ultimate competitive advantage. It is imperative that you position your brand as a market leader as it will assure other brands that it is safe and effective to work with you.
Branding lets you create a positive brand perception, which in turn, shapes customer behavior. The face of your company plays a major role in building credibility. Ensure you hold your employees accountable for maintaining and upholding the industry reputation for your business.
3. Builds Authenticity
It has been found that over 67% of people will buy from brands which they believe are authentic. With a branding strategy that is strongly aligned to your company’s mission, vision, values, and goals, you will be able to highlight your brand in an original and authentic light.
Not only will this encourage and welcome consumers to want to do business with you, but it will also allow your brand to stand out from competitors. In the end, with an authentic brand strategy, your brand will become recognizable within your industry.
In the end, it is essential to have a branding strategy in place that can connect with your consumer, whether that be a large enterprise or a small business, encouraging them to do business with you and become a loyal customer. Though in a B2B world your customers are businesses, it is still just as important to communicate and create that emotional connection with your consumers.