5 advantages of sustainable brand building in B2B
Sustainable brand building is still often neglected in the B2B environment. Because it costs some effort and, above all, time. Increase sales, generate more revenue, gain talent and freedom – we show you five benefits for which the investment in your brand is nevertheless worthwhile.
Sometimes you have to go against the established views of a market to be successful. This is impressively demonstrated by the film “The Big Short”. This is about five investors who predict the collapse of the real estate market, which was the trigger for the financial crisis of 2008/09. The protagonists do not proceed mindlessly at all, but check their assumptions, look for evidence and – their most important characteristic – wait until the events they foresee occur. Because, of course, the real estate market didn’t collapse overnight. It took several years for the investments in the short positions and the risk to pay off.
The big payoff
How does this strategy benefit you as a B2B marketer? The steps followed by the characters in the film, identifying a profitable, albeit controversial, market and waiting for the outcome, can certainly be applied to the world of B2B marketing.
Because what is often ignored by many B2B marketers, although it has long been common practice in B2C marketing? Branding! The development of a company’s own brand in the B2B environment is controversial. Yet companies that invest in their branding over the long term benefit from better financial results in terms of market share growth, profitability and revenue. In both B2C and B2B environments, brand building is thus a perfectly sensible investment for a company to make.
However, brand building requires patience. Brands are built over years, not months. An investment in repetitive, present and unmistakably creative measures is necessary. Because compared to short-term LeadGen campaigns, sustainable brand building creates long-term added value for companies.
The 5 advantages of sustainable B2B brand building at a glance
1. Short-term sales
Long-term brand building also increases short-term sales. That’s because you’re much more likely to buy a brand you know and like – trust breeds business.
2. Long-term sales
The obvious main benefit of building your brand is that it has a positive impact on future purchases from future buyers who are not yet in the market. Through leads, on the other hand, you only reach those who are currently ready to buy. In this context, long-term sales are much more important than short-term sales.
This is because companies are valued based on future sales. Much of a stock’s value is based on sales that are ten years or more in the future. And many more buyers exist “out-of-market” than “in-market.” Today there may be only 20 customers interested in your product, in ten years there could be 200. You can reach these customers through branding.
3. Pricing
B2B marketers often focus only on their impact on sales, completely ignoring their impact on price. Yet reducing price sensitivity is perhaps the most valuable thing marketing can do. Research shows that well-known B2B brands can charge higher prices for their products and services.
4. Talent acquisition
Potential employees are significantly more likely to respond to recruiting campaigns if they have seen a brand message first. Just as buyers want to buy from famous brands, people want to work for famous brands.
5. Freedom
Industries and products are mortal, brands are immortal. Every industry and product is eventually obsolete. When that happens, your strong brand gives you the freedom you need to rescue yourself into a new, growing industry or changing product environment. Think of Nokia: from rubber boots to cell phones to cloud networking solutions, products and industries change, the successful brand remains.
How to successfully build your own brand
Companies must keep many factors in mind for sustainable brand building. These include consistent communication to create a coherent customer experience, a focus on purpose in their own products and services, building trust, using their own employees as ambassadors, identification with their own environment, and a willingness to enter into dialog with customers.
In this article the Evernine Group has summarized how companies drive brand building by investing in their communications. In addition, you will find further information on this topic in this Quick Guide.
Source title image Titelbild: Evernine with synaforce x Adobe Stock / MclittleStock.