According to Infiniti’s industry analysts, businesses with a strong B2B branding strategy tend to outperform their competitors by at least 25 percent.
Why invest in B2B branding?
B2B businesses often underestimate the need for a strong branding strategy and the power of a well-executed branding strategy in business-to-business decision making. Apart from merely being the face of the company, branding for B2B companies also reflect the consistent value system that the brand supports. One of the key challenges in B2B branding, however, is to create a brand beyond the graphic symbols that the existing and potential customers recognize and value.
How to build and B2B branding strategy?
A branding strategy can essentially make or break a business. While taglines and logos make up only for a small portion of a B2B branding strategy, there are several aspects to consider while building a branding strategy. It should be carefully thought out, well planned, and flawlessly executed. Begin by clearly stating what the company stands for and seeks to achieve and conduct a series of acid tests. This involves the answers to critical questions such as – what are the core values of the company? How does the business wish to position itself in the minds of target customers? Is there consistency of message being followed while communicating with the customers?
Doing so will help B2B companies determine their company’s true position on the B2B branding ladder.
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Steps involved in building a B2B branding strategy
Over the past 16+ years, Infiniti has helped several company effectively build their B2B branding strategy. While our industry experts unanimously agree that the B2B branding strategy for each company is unique, most companies benefit from a structured approach that is rooted in fact and combines brand management with business strategy. Here are some crucial checkpoints en route to achieving this:
Evaluate the corporate strategy
The primary step in creating a B2B branding strategy is draw a clear understanding of what the brand stands for and how they aspire to set themselves apart from their key competitors in the market. While creating a branding strategy, businesses must also evaluate how the brand can help drive their business strategy.
Map primary target group and stakeholders
Mapping the key stakeholders and primary target groups will give companies a greater understanding of what drives their perceptions and decision-making. Identifying their perception of the brand can help companies determine whether they are positioned correctly, or alterations should be made to the brand positioning strategy.
Define brand USP and brand architecture
Unique selling proposition (USP) of the brand helps them differentiate their key offerings with market competitors. USP and brand architecture should be framed by integrating the needs of various stakeholders of the company. In B2B branding, companies must also determine how central brand positioning plays out in divisions and business units.
Outline touch points for new branding strategy
The final stage of building an effective B2B branding strategy includes defining the touchpoints that are best suited to activate the new brand positioning. Also identify the different touchpoints that can be used to reach different stakeholders.
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How to make your B2B branding strategy stand out?
As industrial markets are evolving more rapidly than ever before due to tougher market competition, new product technologies, and increasing pressure to innovate, there has never been a better time for businesses to invest in B2B branding. Below, experts at Infiniti Research shares their expertise on how to make your B2B branding unique.
Research-based brand positioning
Positioning of the industrial brand is one of the most crucial aspects to creating a B2B branding strategy that stands out and becomes valued by the customers. The key to achieving this is through market research. Comprehensively studying industrial markets and target customers will reveal opportunities for differentiation. Also, promoting an image of authenticity and reliability of the brand are two aspects that will help companies create a stronger foothold in the market and the minds of their target customers.
Review brand identity
The power of a good brand identity and what it can do for a business cannot be overlooked. Brand identity conveys to the customer how your brand is different from the others in the market. To build a compelling and effective, companies must build their marketing strategy to support and promote their brand message and values.
Brand content development and promotion
Compelling, engaging, and relevant content are integral to industrial branding or B2B branding. Companies can present unique insights to their target audience to communicate a hard-hitting and meaningful.
Promote superior customer experience
A B2B branding strategy must essentially be aligned to their customers’ needs and expectations. To start off, ensure that the brand message is consistent across every customer touchpoint. Doing so would eventually promote reliability of the brand in the mind of the customers. Also ensure that the brand’s positioning is familiar to every stakeholder of the organization.
Building an effective B2B branding strategy is not the sole means to business success. However, it is a crucial element of success for businesses. If companies get their B2B marketing strategy right, the higher are the chances of all their other marketing efforts to fall into place. A strong B2B brand identity is also meaningful way to differentiate from the crowd and create a unique position for the company in the market and in the minds of their target audience, and thereby improve the overall brand health.
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