B2B Branding: Developing a Brand Strategy
As consumers, we have our own experiences with different brands…McDonald’s…Green Bay Packers…Toyota. The mention of a name, the smell of a french fry, the last game that caused a team not to go to the super bowl… all of these things bring thoughts to our minds – positive, negative, maybe a little of both, hunger, guilt…maybe no feelings at all, depending on how that brand’s target market matches up with your interests.
Be the Best In a Niche
Be the best at something. You will likely never be the best at everything, and if you want to offer many services or products, feel free, but focus a little more effort on something you know you can be the best at, with the mindset to be the best in the world while you’re at it. That product or service’s reputation will bring your company forward as a whole, based on the Halo Effect discovered by psychologist Edward Thorndike.
“Whilst the fox knows many things, the hedgehog knows one big thing” – Good to Great by Jim Collins. In an ancient Greek parable discussed in this book, the fox tries a different strategy each day to capture the hedgehog, but the hedgehog always does what he does best – defends himself perfectly.
Dividing your marketing budget across too many services and too many audiences will provide your company little to no progress in any direction at all, and this is unfortunately the path many failing businesses choose. No brand wants to be known as a “jack of all trades but a master of none” right? So first focus on where you know you have strength, build up that area’s visibility and reputation, then leverage that power later on to expand into more industries and relevant target audiences.
B2B Branding Strategies (also relevant to B2C)
Don’t just use social media. DOMINATE.
We’re aware of how important social media is for businesses today, but anyone and everyone builds a profile and posts once in awhile. The key, while it’s still in its early stages, is to become known as a leader in this space. Start a social media strategy and build on it as you go. See what your competitors and related businesses are posting, and what their audiences respond to; follow their followers, see what their lives are like. Social media and content go hand in hand….
Build a content strategy
Content is king, so it’s also fantastic to build out a content strategy, and share your epic content on social media. Everything ties together quite nicely if you do it right! Providing education or extra value to current and potential clients gives your business great bonus and trust points. Don’t forget to make sure you’re tracing out your company’s core values and brand message through all of this content consistently.
Hand-pick and land a few clients you’d be proud to have
A reputation can be built single-handedly by one or two really great clients or dramatic case studies. Of course, everyone wants these clients, but not many people plan on it ever happening (thus, it never does… don’t be like them! Have a few dream clients you really plan to get, sooner rather than later).
Develop a few industry experts that people know about
Similarly to a university with a Nobel Prize winning professor, having a known expert working for your company can do wonders for your reputation, like the Halo Effect mentioned earlier. Develop one or two employees who are motivated by this idea (and would like to be experts) and your brand will reap the rewards.
Do great projects with strategically chosen partners
This is not sponsorship. This is more than that, like conducting research with a university, or starting a new education program. These things should stay relevant to your goals, while providing value to others and showing your knowledge dominance in your industry.
If you’re looking for some professional services marketing, K-Kom has a vast portfolio of B2B marketing strategies and experience, so when you’re ready to take your business to the next level, we’ll be ready to become part of your team.