Branding is crucial for products and services sold in huge consumer markets. It’s also important in B2B because it helps you stand out from your competition. Your brand strategy brings your competitive positioning to life, and works to position you as a certain “something” in the mind of your prospects and customers.
Think about successful consumer brands like Pret A Manger, BT, Virgin or Costa Coffee. You probably know what each brand represents. Now imagine that you’re competing against one of these companies. If you want to capture significant market share, start with a strong brand strategy or you may not get far.
In your industry, there may or may not be a strong B2B brand. But when you put two companies up against each other, the one that represents something valuable will have an easier time reaching, engaging, closing and retaining customers.
Successful branding also creates “brand equity” – the amount of money that customers are willing to pay just because it’s your brand. In addition to generating revenue, brand equity makes your company itself more valuable over the long term.
“However beautiful the strategy,
you should occasionally
look at the results.”
Does your company follow a defined strategy for your brand?
Which category do you fall under?
You acquire customers quickly because your prospects’ experience with you supports everything you say.
You can charge a premium because your market knows why you’re better and is willing to pay for it.
The market may not have a consistent view or impression of your product and company, but in general you think it’s positive.
You haven’t thought a lot about branding because it doesn’t necessarily seem relevant, but you admit that you can do a better job of communicating consistently with the market.
You’re not helping yourself but you’re not hurting yourself either.
Improve your branding
Improve your branding
Do you want to know how to build your brand?
Contact us and we will arrange for you to meet one of our branding experts who will show you, without cost or obligation, how to build your brand.
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