85% of Chief Marketing Officers from 133 B2B organizations responding to Renegade’s 2020 poll felt that B2B marketing has grown more complex over the previous 12 to 24 months.
Naturally, the epidemic increased this complexity since 80 percent of these marketers were forced to find substitutes for actual events. But in a significant departure from our 2019 survey, 86 percent of these CMOs thought their marketing had improved over the previous 12 months.
What changed, and how can other B2B marketers apply this knowledge as they prepare for 2022?
CMOs credited their success in these initiatives to stronger overall marketing strategies (67%) , better message (66%) , greater target understanding (59%) and better marketing personnel (55%).
What is a B2B brand?
Business-to-business, or B2B, refers to companies that promote to other businesses rather than to consumers directly. Some companies, like Panasonic, were mostly B2C in the past but are now nearly exclusively B2B.
Additionally, there are several companies like Avid that appeal to both individuals and corporations. However, for the sake of this research, we’ll continue to concentrate on businesses that only market to other businesses.
As a result, the perceptions of a B2B brand can play a variety of roles throughout the purchasing process. However, ask any B2B salesperson which is simpler: working for an obscure brand or one with a solid reputation.
Having a good reputation can help you get on the shortlist, but it might or might not enable you to close the transaction.
Building a B2B brand strategy
This is the point at which we begin to consider the concept of a brand more broadly. Every touchpoint, whether it be the homepage of your website, a software demonstration, an ROI calculator, a booth at a tradeshow, or a sales presentation, has the potential to either strengthen or confuse your brand.
Because of this, it is crucial to have a distinct brand strategy that guides all organizational activities, not just marketing.
Remove the clutter
These days, simplicity is very much in favor. We are frequently presented with cutting-edge technologies that claim to “simplify” our lives, but it seems that as marketers, we are moving oppositely.
Committing to decluttering is the first step in creating a successful B2B brand strategy. Forget everything you can do and concentrate on what you need to do to make a difference.
Without a doubt, this requires bravery. However, as the proverb says, fortune favors the bold. Let’s condense and prioritize your to-do list. Let’s commit to simplicity because it is always effective rather than because it is au courant.
Positioning a brand
You must have the guts to stand up for an overarching brand strategy that distinguishes your business in the global B2B marketplace. You must have the guts to admit that being different, or at the very least distinctive, matters more than being superior.
Consider this: As the head of marketing, making your company stand out from the competition is your top priority. Period. If you’re unable to accept this challenge, you’re probably not in the right position. Anyone who wants to engage in effective marketing will likely need to take a chance and give something new a shot.
Jump into your goal
On the positive side, take into account that, according to a recent Accenture study, 63 percent of consumers throughout the world prefer to purchase goods and services from businesses that share a mission with them and reject those that don’t.
According to the survey, businesses that stand for something greater than their products, share their mission and show dedication are more likely to draw customers and have an impact on purchase decisions, which increases competitiveness.
Encourage customer advocates
It seems obvious enough. Every B2B company aims to retain current clients for as long as possible while attracting new ones. The business priorities are often listed in that exact order.
If your new branding entails significant improvements to your consumer experience, if not the product itself, rather than just a fresh coat of paint on an old barn, then you’ll want their support as early as feasible.
For instance, if you plan to expand to the Chinese B2B platform, your best clients should be included in the development process to help guide, if not validate, your new course of action.
Are you completely certain that your product or service is living up to expectations before you quickly dismiss this business 101 observation? Reading online reviews is one approach to learning more. Another is to routinely discuss your performance with your clients.
