By Emily Johnson
Some people believe that developing a strong brand is less important to B2B companies than it is to B2C companies, who must work to gain the trust of individual consumers. But, the truth is, branding is as important to B2B success as it is in any business.
Some of the misconceptions about B2B branding include:
- B2B buyers are rational decision makers and are unaffected by emotional factors such as branding.
- B2B products and services are too intricate to be summarized to a single tagline.
- Money is the only driving force behind B2B decision-making.
- A relationship with the sales representative of B2B organization is more crucial than any branding.
Some things are constant in business: loyalty, emotional connections, and trust are key components that build relationships (and eventually sales), no matter what industry you’re in. B2B buyers are human beings, and humans are driven by their emotions—it’s these emotions that can impact the decision-making process. An effective brand works on an emotional level and triggers the right kind of emotional response in the customer.
It’s not about B2B or B2C—it’s about using the right strategy to connect at a personal level with customers and gain their trust, no matter what you’re selling. Here are some of the reasons why branding matters for your B2B business:
1. Good branding forms a strong emotional connection
Customers today have more choices than ever before. They can often choose from a pool of dozens or more competing brands. If you want your business to be the top choice, you have to go above and beyond to demonstrate your brand’s value.
A good brand should create an emotional relationship with clients, and building brand intimacy is crucial to stand apart from the competition.
B2B companies need to ask themselves the following questions:
- Do my customers feel emotionally complete?
- Does our brand messaging cultivate an emotional bond between our brand and our customers?
- If not, what’s preventing us from creating an emotional connection with our customers?
Answering these key questions first will help you identify flaws in your current strategy so you can make necessary changes.
2. Branding attracts and retains loyal customers
Some companies assume branding is all about an attractive logo, impressive packaging, a catchy tagline, and a well-designed website. However, branding is so much more than business awareness. The ultimate objective of branding is to increase customers and sales.
A strong brand will not only bring in new clients, but also retain them for a long time. It will also get you inside the door of a customer quickly.
3. Branding speeds up the decision-making process
The time it takes to make a decision in organizations can range anywhere from one month to one year, and, according to Gartner, for firms with 100 to 500 employees, an average of seven people are involved in the buying decision. A strong branding message, however, can reduce that time significantly. Effective branding helps customers make faster decisions. If there are dozens of options available, customers will pick the one they already know; if every option is new to customers, they will reach for the one with the best branding.