A brand is a name, term, design, symbol or any other feature that identifies one seller’s good or service as distinct from those of other sellers.
Branding is the process used to build your business’s identity. Everything you stand for, what you believe, your business’s reputation essentially the tangible and intangible impression others have of your business is created with branding.
This process not only includes all physical (tangible) elements of your business, such as your logo, colors, website, office space, and other physical assets, but also your business’s core values, purpose, and mission (which are intangible).
The people you serve your customers also contribute to your brand identity as well as your reputation and any associations with other businesses, people, and organizations.
Think about it. Isn’t it true that birds of a feather flock together? The associations one maintains not only influence the reputation of a human being, but businesses as well.
Perhaps Jeff Bezos, CEO of Amazon, summed it up best when he said, Your brand is what other people say about you when you’re not in the room.
Why Should You Increase Brand Awareness?
Brand managers and marketers working to increase brand awareness in B2B face more challenges than within the B2C market. The B2B buyer is more sophisticated and the stakes are often much higher. B2B decision-makers are paid high salaries to make said purchase decisions and the sales process can be long.
Building and increasing brand awareness within B2B also requires more knowledge about your customers’ problems, with marketing strategies that empathise and educate accordingly. And a more sophisticated marketing strategy must be supported by the right resources. This could include:
- creating a marketing strategy
- hiring a content writer
- investing in product training
- onboarding support
- the right technical resources to support your team.
Overall, increasing brand awareness in B2B comes with a price tag because it needs more consideration, involves more people and requiring more approval from key internal stakeholders.
If it is so difficult, why should B2B-ers bother working to increase brand awareness? Well, brand awareness builds trust. Increased trust in a brand means more customer reach and staying on top of mind means increased brand loyalty. And what does this mean for the long term? Well as brands and marketers, it certainly means you can sell more and even charge higher prices if you feel inclined so.
So, it’s hard work, but it’s worth it. To get you started, check out our infographic for some practical ways that you can start to increase brand awareness in B2B today.