B2B Brand Importance
If you’re like most B2B marketers, you’ve been asked or will be asked, Does our brand really matter? How can we prove it? And how do we build a case to support our investment? To help you understand the current POV, turn to the McKinsey study on Why B2B Branding Matters.
Unlike in the past, where the sales experience played a large role in the purchasing decision for B2Bs, today the brand is seen as more important. Now the brand reputation commands huge influence on the purchasing decision and must be managed correctly in order to maximize value and create differentiation. In this era of brand conciseness, customers want and expect B2B brands to earn their TRUST and demandRESPONSIBILITY across the entire value chain.
B2B customers today see through the shallow attempt of large brands merchandising “Social Responsibility” like an advertising campaign. Customers expect transparency and easy access to relevant proof points that support unique brand positions.
Additionally, B2B companies that manage their brand reputation and experience well reap the goodwill with higher intangible value ratings. The McKinsey study shows several examples of B2B companies outperforming P&G (whose good will represents 40% of its asset value).
So, the next time your asked, “does B2B branding matter?”, turn to the facts and rely upon recent data that shows B2B branding not only matters, but matters to your bottom line value.