BRANDS IN THE B2B ENVIRONMENT: A STORY OF UNTAPPED POTENTIAL

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BRANDS IN THE B2B ENVIRONMENT: A STORY OF UNTAPPED POTENTIAL
BRANDS IN THE B2B ENVIRONMENT: A STORY OF UNTAPPED POTENTIAL

It’s a common misconception: technicians and buyers are generally allergic to advertising. More recent research results finally dispel this prejudice. B2B decision-makers are more open than ever to relevant advertising communication. Why? The offer is getting bigger, technically more complex, and confusing.

Here, in particular, brands provide orientation and thus help to reduce the complexity of the offer. McKinsey found in a survey of top buyers that 42 percent of buyers with a strong brand consider the risk of a bad buy to be very low. It’s hard to understand why most B2B providers do little for your brand.

Soft factors ensure a higher margin

If you ask sales and marketing managers, the customer needs are completely clear. Functionalities, innovations, and the price are right at the top. Current studies reveal the mistake:

In the B2B area, in particular, most customers focus on functional purchase decision motives (technology or costs) as well as psychosocial benefits such as expertise, reliability, trust, credibility, and partnership.

In addition, the size of the buying center increases with the size of the investment. And very few can judge in detail which provider is functionally ahead. Accordingly, the circle of decision-makers is almost always made up of a combination of reason and feeling.

Those who rely on function and price may have to compete against low-cost providers from China and India. These are increasingly developing into serious competitors because the quality of these products is often acceptable and the price is unbeatable.

Because of this, most fast-growing companies learn that useful products marketed first class are often more successful than first-class products marketed well. And the numbers speak for themselves: Visit here: https://livesportsreviews.com

Strong brands have an average of 20 percent higher EBIT (earnings before interest and taxes) margin. And that’s not all: strong brands not only achieve higher prices, but also a higher rating. that usable products are marketed first-class often more successfully than first-class products are marketed usable. And the numbers speak for themselves:

Strong brands have an average of 20 percent higher EBIT (earnings before interest and taxes) margin. And that’s not all: strong brands not only achieve higher prices, but also a higher rating. that usable products are often more successfully marketed first-class than first-class products are marketed usefully.

And the numbers speak for themselves: strong brands have an average of 20 percent higher EBIT (earnings before interest and taxes) margin. And that’s not all: strong brands not only achieve higher prices, but also a higher rating.

Silo thinking prevents strong brands

Sober, technical, and unemotional. Exhibition stands at international industrial fairs are shockingly unimaginative! And this even though industrial companies invest the vast majority of their marketing budget in participating in trade fairs.

Too often the brand is reduced in its meaning to the logo and the production of brochures. But why is that? Whether corporate communication, brand management, marketing, sales, or product development:

Each area claims a relevant share in the company’s success. And it is precisely this silo thinking that prevents the development of a successful brand. Far too often the power of the development department is too great.

In contrast, the sales department claims to know best what the customer needs. Marketing, on the other hand, draws its insights from surveys and market research data. Successful B2B brands show how it is: The clear demarcation between product, communication, and sales is over.

The magic formula is comprehensive networking of the areas. This means that operational marketing, sales, product development, and service define common goals and content. But above all, they all pull together!

Sales and marketing in harmony

Where there is a strong brand identity, sales can work best. The brand creates trust, security, sympathies, and preferences, generates more leads, opens doors, and even forgives some mistakes.

But where is a brand image created? In addition to the classic channels on the Internet, of course. Because one thing has changed radically in the last few decades: buying behavior! Far more than in the B2C area, goods, goods, and services are traded between companies on the Internet.

B2B e-commerce accounts for over 95 percent (870 billion euros) of the total e-commerce market volume. What does that mean for the brand? Above all, that customers now have potentially many more points of contact with you than they did 20 years ago.

Were there still about 6-8 relevant communication channels (letter, TV, fax, etc.) in the eighties? ) so experts count 40-60 today. These range from the website and review pages to procurement platforms and social media portals. Against this background, how do you create a homogeneous brand image?

Keep reading: how to crack upper back

Comprehensive support for leads

One of the most important means of the next few years is lead management in conjunction with CRM. The customer is professionally developed throughout his entire “life cycle”, the customer journey: from awareness of the product and interest to the intention to buy and the purchase decision.

In addition, after a purchase has been made, the next interest takes place. One-time customers must therefore be developed into regular customers. The latest technologies enable capillary tracking of prospective buyers.

Gone are the days of annoying advertising bombardment or meaningless supplier self-portraits. Cookies and web tracking finally allow the relevant dialogue. Classic advertising, non-classic advertising measures, dialogue marketing, SEM, SEO, social media, and so on are no longer individual disciplines.

They are intelligently linked and combined into a meaningful strategy. Customers and providers get to know each other and a relevant picture of the offer and the brand is created. Across all communication channels. What sounds like dreaming about the future to some of you is already a reality for users of marketing automation and lead management platforms.

For all those for whom terms such as closed-loop communication, lead scoring, and lead nurturing means nothing: The sales contract is the most sustainable brand experience! Perfect interaction between sales and marketing will remain the strongest differentiation criterion in 2014 as well.