Ask 100 people to define “brand” and you will probably receive 100 different answers. Most people are aware of good branding because they can think of their favourites, but actually defining what makes a good brand is more difficult. And it’s this difficulty that can often be problematic for marketers, particularly in the B2B space.
Boiled down to its essence, a brand is a promise. Think of some top brands like Apple, Coca Cola, Colgate, and Harley Davidson and you know what you’re going to get, you know what they promise.
A brand is also a look and feel – a combination of names, words, logos, fonts, colours and personality. But it’s also a set of features and characteristics that are fundamental to your goods or services. Think of Ferrari, for example, and you will probably think of “exclusivity, racing pedigree, cutting edge engineering” but also, “Italian” and “red”.
Good branding doesn’t happen overnight. It takes time (and money) to build brands that resonate, are remembered, and most importantly, become trusted.
In times of economic uncertainty, marketing teams face increased pressure to do more with less. And many business leaders demand a clear correlation between marketing activity and business growth. This approach, while understandable to a degree, creates a focus on short-term metrics, such as lead acquisition, often at the expense of overall brand recognition and reputation. Unfortunately, when the starting gun goes off on the economic recovery, it’s those that neglect their brands who are left stuck in the starting blocks.
An unwavering focus on brand building and generating customer demand at the top of the sales funnel enables organisations to remain top of mind and build brand awareness across their respective industries. When prospects enter the buying cycle, it’s easy for them to decide who they will buy from—reliable brands that they already know and trust. When consumers lose touch with a brand, or worse, lose trust in it completely, they’re likely to turn to a competitor.
There doesn’t need to be a binary choice between brand building and lead generation. Ultimately, brand building supports your sales team’s conversations with prospects and helps convert them into customers. Fortunately, it’s never too late to rebalance brand building as part of your marketing mix.
But where to start? Taking an honest look at your current marketing and that of your competitors will help build a picture. Identify your current market share and what you can change in your marketing to ensure you have consistent, positive opportunities for brand recognition. Speak to your current customers and clients, if you ask them about the strength of your brand they may surprise you with their answers.
As leading B2B demand generation experts, onebite helps technology and telco brands soar. Find out more about the B2B marketing trends to expect in 2024 by downloading our latest report, Stand out from the crowd. Or if you’d like to have a chat to one of our experts about how to launch, refine or amplify your brand, we’d love to hear from you.
