It is often asked if branding for B2B businesses is as important as it is important for B2C. While it is true that most of the times, B2B ‘branding’ is not always as common and recognizable within the mainstream world, this doesn’t mean that B2B branding shouldn’t be focused on and built into something which can have tangible effects on your business and the potential for sales through enhanced lead generation.
But what is meant by the term, ‘branding’? It is often used as a cliché in business and especially marketing. Often thrown around without reasonable context. It is easy and comfortable to refer to activities and processes as ‘good branding’ or, “It will improve the brand.”
But what is ‘brand’. Essentially, brand is everything which your company stands for, believes in and ultimately represents. The brand is the culture of your business, your USP’s and purpose packaged as a compound.
On a base layer, you may say visible branding in a literal sense is your logo, your colour scheme and imagery choice. Web design and blog layout, is branding. But this is all following on from the initial foundations you have set on and decided. The goal which the company is puling towards is the brand.
Who are you and how do you want to reflect this to your audience. Brand is not one thing, it is not this or that. It’s everything as your core. You need to create a strategy which outlines your whole intention and brand direction to create an identity which is strong, authorities and recognisable for what you stand for. This is what will make your business relevant in the wider picture.
Read the following reasons about importance of branding for B2B businesses:
Like B2C strategies, branding for B2B fetches exposure for your company. As a business, you need to make money and make people aware of your skillset.
This can only happen if other people are known about your company. Exposure will grant you initial contracts. Upon satisfaction from both parties, both businesses can benefit off each other in terms of recommending the other business in their circle.
- An Industrial Trend
We don’t live in the 60s anymore. We now have internet and certain industrial standards. If you are thinking of not branding your business, you are hurting your future revenue.
Branding is an industrial trend, one which comes at an affordable value. With everyone using it these days, it will look odd, trying to get another company interested in you, when you lack branding?
B2B business branding is highly scalable i.e. no matter what you do, you will always have room for improvement. Take the example of Phillips – The multinational electronics company recently updated its logo, which gave respect to their older logo of the 30s.
Since people involved in B2B dealings make rational decisions, they conduct extensive research on a company, they are trying to deal with. In this case, it is highly likely that Phillips would get promising contracts, since their branding strategy depicted integrity, values, respect and harmony.
Ethics, businesses and behavioral values are important when it comes to gaining another company’s contract and branding paves the way for setting up a formal deal with another business.
- Branding Represents Ideology
You have never met the representatives of another company. But, you can reach them via B2B business branding.
The way you brand your product is an indication of organizational working and ideology and besides, you are not the only business branding their products. With so many business brandings, it is only fair that the other party judges a company the way they promote themselves. Next comes the shortlisting and personal meeting phase where deals are done but to get to that phase, you need to focus upon branding.
- Direction of Branding Brings Customers
Unlike B2C branding, where primary strategy is to develop an emotional bond with a customer so that he/she can buy the product.
Almost all of B2B companies invest in logical decisions and rely very little upon emotional factor. This means that in order to sell yourself, you need to be straightforward. Focus upon conceptual marketing, in terms of pricing, uniqueness and product benefits, the other company will get. Answer the question of ‘why’ i.e. why should a company deal with you?
Your straightforward direction of branding will help convince the sales department of other company and this will give you contracts.