The importance of branding in B2B marketing

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Is B2B entirely rational?

There is a common misconception that B2B marketing is the exact opposite of B2C. Some believe that B2B is more rational, and the target audience prioritises their emotions to a lesser degree. While that is true to a certain extent, it would be a detrimental oversimplification to agree with that statement wholeheartedly. People do try to be more rational in B2B, but that doesn’t mean they entirely disconnect from their emotions. According to a 2006 Harvard Business review article, people don’t make decisions without emotions guiding them. Harvard university later researched this more deeply in a 2014 paper. It proved that we need emotions to set goals which later will be affected by decisions that are also emotion-driven. 

B2C vs. B2B Branding

A B2B company’s financial operations are different than that of a B2C. Budgets are often much higher, and because of this, a B2B sale usually needs more people’s approval before it is finally completed. Partly due to these higher budgets, B2B sales directly impact the employees’ jobs. If the product or service does not deliver, it might lead to people losing their jobs. 

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Putting all these factors together, B2B brands need to build trust and solid relationships with potential clients as early in the customer journey as possible. One of B2B branding’s main goals is to minimize the sense of risk. The easiest way to do this is the most direct one: show them what their money will get them. 

Proving the sold product or service is of high quality can be done by: 

  • Client testimonials 
  • Case studies 
  • List of past and current customers 
  • Product guarantees 
  • Quality certificates 

B2B Branding

Branding, by its essence, is the emotional associations that customers have with a particular company. It can help identify a product and distinguish it from other products or services. In addition, it helps create a memorable impression on consumers as it hardwires their brains to relate a particular emotion to the brand. 

There are multiple reasons why good branding can be crucial for a B2B company. It can affect how customers perceive the brand, attract new business, and increase brand awareness. 

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1. Get recognition 

One of the reasons branding is of such significance is that if a company has good branding, its consumers will be more easily recognized. Human emotions go very deep into who we are, what we like, and what we trust. That is why making sure that your brand connects to the right emotions for your customers is vital.

2. Increase business value 

Having a good brand is essential when generating future leads, and a strong brand increases a business’ value by giving the company more leverage in its industry. 

3. Align the touchpoints along the customer journey  

When a company has its branding done right, it reflects its values and culture. All the different parts, from marketing to sales to operations and onboarding, work together seamlessly and helps build a good synergy. 

4. Increase the service/product’s value 

We all know how expensive Apple products can be. While they are all high-quality tech, their hardware and software are not the only things that make them expensive. The Silicon Valley giant is the world’s most valuable brand. Customers get a promise that whatever they buy is going to work and work well. 

5. Increase conversion rates 

When B2B marketers do all of this well, it will lead to higher conversion rates. A well-branded business will attract more people, and those people are more likely to reach out to the sales team. 

Operating as a B2B company can be complicated, and decisions can be more challenging to make. One way to get some weight off the employees’ shoulders is to invest in good branding. As a result, leads will be more likely to come into the company with a smaller investment in marketing and more likely to close a deal, making the sales team’s life easier. 

 

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