Branding is important topic today. Type the word branding into Google and you will get over 250 million results. What does branding really have to do with a B2B company? A lot actually.
According to research conducted by Google, B2B buyers are more emotionally connected to brands than consumers. B2B buyers with a higher brand connection are thirteen times more likely to pay a premium for your products or services.
B2B companies are increasingly investing in their brand strategy. Data from brand consulting company Spencer Brenneman, in conjunction with Great Blue Research, found that nearly 87% of organizations have increased spending on brand investments during the last five years.
“Branding begins with the consistency of presentation that
becomes the identity of a company. Beyond this it represents a
consistent value system that a company presents to the world and
that is seen to be that company’s way of doing things.” – B2B International
Gardner Research identifies the brand as the most influential factor impacting vendor selection and offers the following characteristics of a compelling brand story:
- Truth should be the cornerstone of all marketing content. Make sure to show, not tell.
- Human. Focus on how your services and products affect the lives of people.
- Originality. Offer a fresh perspective.
- Serve the Customer. Your marketing content should provide a solution to the potential client.
How do you go about enhancing your brand strategy? According to the study by Spencer Brenneman – research. An impressive 97.3% of executives allocate resources to brand research. And the organizations that continually conducted research on their brand received more positive gains than that only invested more in their brand strategy.
Not sure where to begin your research? We can help.