Beyond Demand Gen for B2B
Brand Building as the Catalyst for Mature B2B Growth
Demand generation has long been the trusty workhorse of B2B marketing, fueling essential initial growth and building your businesses foundation. But as your company matures and the landscape evolves, you might find yourself facing new challenges.
Is your growth is plateauing?
Are your competitors catching up?
Are you simply ready to reach the next level?
If the answer is yes to any of these questions, it may be time to incorporate brand building into your existing marketing plan. This shift in focus is a perfect compliment to your current marketing strategies and can propel your maturing B2B company forward.
Marketing vs. Branding: Understanding the Difference
Brand building and demand generation aren't mutually exclusive; they're complementary forces that, when combined, create a powerful growth engine for mature B2B companies. Before we dive deeper, let’s define our POV on some of the hallmark distinctions we see between these two disciplines:
Branding: Focuses on creating a long-term identity and reputation for your company. It encompasses everything from your visual identity, to your product roadmap, to your company culture and values.
Marketing: Focuses on promoting specific product features or services, generating leads, and driving short-term sales. It's tactical and often campaign-driven.
Image copyright: Offset Collective.
Does Branding Matter in B2B?
The reality is, 95% of your ideal customers aren't actively seeking your product or service right now. Brand building isn't about immediate conversions; it's about nurturing relationships and fostering trust over time so that when those prospects are finally ready to buy or issue an RFP, your brand will be top-of-mind. But the reality is ROI on branding can be hard to measure, and therefore, hard to advocate for within some organizations. But consider this, brand building allows you to increase your return on marketing investment—it’s like a little amplifier that helps your efforts go further and connect deeper with you target customer. Done well, brand building can potentially increase your long-term ROMI by 640%.
So yes, brand-buiding can be a huge competitive advantage. Here are a few key areas where branding can help your bottom line.
Differentiating Beyond Features: In a competitive market, features and benefits can be easily replicated. A strong brand cannot. A well-defined brand communicates your values and your unique value proposition, acting as a magnet to your target audience. And when a customer feels connected to your brand, they are more likely to increase their spending with you and more likely to choose you over a competitor. Consider sparkling water company, Liquid Death. Launched in 2019, their edgy branding and irreverent humor transformed a commodity like water into a cult favorite, propelling the company to a staggering $1.4 billion valuation. With water.
Commanding Premium Pricing: A strong brand isn't just about recognition; it's about building and bonding emotional connections that translate into tangible business results. In B2B, despite feeling like you're selling to a monolithic, perhaps bureaucratic, organization, remember that you’re still selling to people who want to be seen and understood. A brand that resonates allows you to transcend price wars, commanding premium pricing from customers who value your unique offering and your approach to solving their pain points. Research shows that an emotional connection breeds loyalty and directly impacts your bottom line, with customers more likely to increase their spending and choose you over competitors.
Preemptive Selling: In the complex world of enterprise sales, where multiple decision-makers and lengthy sales cycles are the norm, brand-building acts as strong ally, fostering trust and credibility amongst key stakeholders before you’ve walked in the door. It provides a consistent and compelling narrative that resonates with customers’ needs, potentially simplifying the decision-making process. Furthermore, a reputable brand can act as a preemptive counter to objections, reassuring decision-makers about the long-term value and stability of your offering. As noted by Lee Coombe in this “A Change of Brand” Nokia’s podcast, selling in the B2B environment presents even higher stakes. Deals are bigger, longer, and require more integration resulting in more complex sales cycles and necessary scrutiny.
Attracting & Retaining Ideal Talent
A strong brand isn't just about attracting customers; it also plays a crucial role in attracting and retaining top talent. After all, 75% of active job seekers are likely to apply to a job if the employer actively manages its employer brand. Strong brands also have impact on your business. According to research from the London School of Business & Texas A&M, executives are willing to take an average 12% pay cut to work at a top company. That may sound wacky but consider the benefits of a reputable brand on your resume: good brand names bring prestige and send a signal about your quality.
How to Develop Your B2B Brand Strategy
A robust B2B brand strategy goes beyond logos and taglines. It involves a deep understanding of your audience, your unique value proposition, and how you can establish yourself as a thought leader in your industry. Here's how to get started:
Define your brand purpose and values: Conduct an audit and start to ask questions. What does your company stand for? What are the core beliefs that guide your actions and decisions? Clearly articulating and gaining internal alignment with your organization on your purpose and values will provide a solid foundation for your brand strategy.
Identify your target audience and their pain points: Who are you trying to reach? What challenges do they face? Understanding your audience's needs and pain points is crucial for creating content that resonates and positions you as a valuable resource.
Develop a content strategy that showcases your expertise: Thought leadership is about sharing valuable insights and perspectives that address your audience's challenges and build trust over time. In a recent survey, 7 out of 10 buyers report being more receptive to outreach from a company that consistently produces high-quality thought leadership with 75% reporting a piece of thought leadership has lead them to research a product or service they were not previously considering. Positioning yourself as the solution they didn’t know they needed, yet, is the perfect offense.
Develop your unique style: Infuse your brand with a personality that sets you apart and is authentic. Whether it's playful, sophisticated, or rebellious, your brand personality should be memorable and consistent.
We want to talk to you!
We think brand & marketing go together like peanut butter & jelly. Get in touch & let’s talk shop. 👇
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