Marketing won’t take your organization very far if it isn’t built on a strong, consistent brand. In B2B marketing, branding is often left by the wayside—and yet, it’s essential for reaching new clients, growing existing partnerships and bringing in new revenue. Consider these three reasons why:
Across the board, strong brands give a customer something to relate and respond to, allowing an organization to foster long-term relationships. There are long-term financial benefits to building brand loyalty over time, for healthcare brands, B2B brands and B2C brands. Retaining current customers is always more cost-effective than finding new ones, and a strong brand can help existing customers feel more closely connected to your product or service than a more generic approach would offer. Those who feel connected to your brand are more likely to make future purchases, and invest in larger purchases from your organization.
Consider what your brand stands for and integrate those principles into a loyalty program. For example, you may have built your brand on your reputation for standout customer service. Cultivate referrals by offering new customer service perks to those who refer a relevant business. Or, if your brand is built on your creative thinking and outside-the-box ways of delivering results, send exclusive white papers and toolkits that explain your methods to top customers who have expressed an interest in your thought leadership.
B2B brands matter more than B2C
Branding sets your organization apart from the myriad other options available to your prospects. As discussed in our white paper, B2B brands matter more than B2C, it’s time to reevaluate the common thought that consumers make decisions based on emotion but business buyers make more rational decisions. It’s simply not accurate. Intangible assets such as “goodwill” and popular recognition play a critical role in the B2B buying process.
Your brand is your differentiator. Two organizations may produce functionally the same item, or offer essentially the same service, but their branding gives them different characters, and is ultimately the reason that customers pick one over the other. Read our white paper to learn more.
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