The B2B marketing landscape is, by its very nature, competitive. The tendency has long been to focus on immediate performance indicators. In particular, the generation of sales leads. However, this approach can often mask an essential component of long-term success: B2B brand building.
Let’s take a look at why it’s vital for B2B companies to rebalance their strategies. And to do so in a way that promotes the sustainable and meaningful development of their brand or brand building.
The limits of a pure lead generation approach
Today’s B2B marketing culture sometimes places too much emphasis on immediate, quantifiable results. This meets the expectations of investors and management keen to see a direct return on investment. It has to be said, however, that this approach can lead to a myopic vision of marketing. A vision where short-term decisions take precedence over long-term strategies beneficial to the brand (branding).
Focusing solely on sales leads can lead to neglect of customer loyalty and long-term brand recognition.
Considering that 95% of your potential customers are not currently actively looking for your products or services, it’s crucial not to overlook this majority. Engage them in a long-term dialogue to anchor your brand in their professional reality. That way, by the time these customers enter the active 5% of the market, your company will already be a reference.
A study presented by McKinsey indicates that B2B companies with strong brands perform around 20% better than those with weak brands. This underscores the central role of brand in a supplier’s proposition.
In addition, this McKinsey study revealed that brands with strong reputations generate a 31% higher return on investment for shareholders than the MSCI World average.
B2B branding: towards a more balanced approach
It’s crucial for B2B marketers to develop a balanced strategy. A strategy that integrates both lead generation and brand building (branding). This implies :
In-depth brand recognition in B2B
In a B2B context, purchasing decisions are often more complex and involve more stakeholders. They deserve a clear and deep understanding of their crucial role in the final business choice.
Trust and credibility. In B2B, business relationships are often long-term and based on trust. A well-recognized and respected brand is perceived as more reliable and credible. This is particularly important in high-stakes industries such as technology and manufacturing.
Differentiation in a saturated market. B2B markets can be crowded with many competitors offering similar products or services. A brand that clearly stands out through its in-depth recognition can emerge as the preferred choice. Even if the offers are comparable.
Facilitating the sales process. A recognized and respected brand can simplify the sales process. Decision-makers at customer companies are often more willing to engage in sales discussions with companies whose brand is well perceived in the industry.
Other key aspects of in-depth brand recognition
Long-term value creation. It’s a well-known fact that a strong B2B brand does more than just attract customers. Brand loyalty and referrals in B2B can significantly reduce marketing and sales costs.
Talent attraction. A strong brand attracts not only customers, but also talent. In a B2B environment, where recruiting qualified professionals can be a challenge, a well-recognized and respected brand can be a major asset.
Market education. Instead of focusing solely on products or services, it’s essential to educate potential customers about industry issues. This strengthens the brand’s position as an opinion leader.
Building brand awareness. Use content and public relations strategies to maintain a constant, positive presence in consumers’ minds. This helps build a strong, respected brand image.
Brand affinity. Create an emotional connection with customers by showing how the brand meets their needs and shares their values. This can lead to brand preference and favorable purchasing decisions.
Benefits of in-depth brand recognition
Visibility and consistency. For a brand to be easily recognized, it needs to be consistently visible across different channels and customer touchpoints. This includes advertising, packaging, digital marketing, social media content, and more. Consistency in message and appearance strengthens the brand’s recognition.
Emotional connection. Brands that succeed in establishing a strong emotional connection with their audience benefit from increased brand recognition. Emotions play a crucial role in how consumers perceive a brand and make purchasing decisions.
Customer experience. A positive, consistent customer experience at every interaction helps strengthen the brand’s recognition. This includes everything from the quality of customer service to the user experience across digital and physical platforms.
Brand storytelling. An effective narrative that tells the brand’s story, its origins, its challenges, its successes, and its mission can strengthen its image and encourage deeper recognition.
A new paradigm for B2B marketing
I’m putting down some statistics here for further discussion on LinkedIn or in a future post.
Impact of brand awareness. 95% of B2B marketers produce content for social networks, underlining the importance of these platforms for brand awareness (WebFX). What’s more, 25% of B2B marketers consider social network content to be the best type of content for building brand awareness (WebFX).
Consumer engagement and transparency. 74% of consumers believe that transparent communication has become more important after the COVID-19 pandemic, demonstrating the importance of authenticity and transparency for brands (Oberlo | Where Self Made is Made). In addition, 77% of consumers buy from brands that share their values (Oberlo | Where Self Made is Made), underlining the importance of values alignment for consumer engagement.
B2B marketing investments and priorities. Some 64% of B2B companies plan to increase their investment in e-commerce websites (Home | Kurve Marketing Consultancy), indicating a trend towards strengthening online presence and capitalizing on digital marketing to strengthen the brand.
Ultimately, B2B marketers must recognize that brand building is not just about increasing visibility, but about creating a lasting image that resonates deeply with current and potential customers.
In conclusion
By intelligently balancing sales lead generation and brand building, companies can not only improve their short-term performance, but also ensure sustained and significant long-term growth.
By adopting this holistic approach, B2B marketing can transcend immediate sales cycles to build a solid foundation on which the business can thrive on an ongoing basis. Please feel free to contact us for a more detailed discussion, or subscribe to our newsletter. If you found this blog post useful, we encourage you to share it in your networks and tell others about it. More than ever, B2B branding deserves our attention and thought.
