What are the 5 Branding Strategies That Every B2B Business Should Know About
• Narrow the target audience
• Problem-solving
• Develop a unique selling proposition - USP
• Solidify brand promise with the value proposition and set expectations
• Create visual branding guidelines
When it comes to relationships with other businesses, we always focus on the benefits and the low risk. Unlike B2C relationships, B2B relationships are less risk-taking and are mainly based on factual information and recommendations. In contrast, customers can experiment with the new fancy products until they find their favourite item. The business needs to decide based on profit, trust and reputation. As a business owner, you want to fully trust your investments, whether they bring direct incomes or create contacts with the desired audience. It is less likely to risk many resources if you are not entirely sure about the other party. For many reasons, we speak about a brand as the face of a business. Above all, the brand is a reputation. If you're running a B2B business, then you know that branding is essential to your success. After all, your brand is what sets you apart from your competitors and attracts customers to your business. But with so many different branding strategies out there, it can be tough to know which ones are right for your business. To help you out, we've compiled a list of five branding strategies that every B2B business should know about. Keep reading to learn more!
The five branding key points
1. Narrow down your target audience The first step in developing a solid brand is to narrow down your target audience. Think about who your ideal customer is and what their needs are. The better you know your customers, the more you will understand their needs and problems.
2. Problem-solving - For most businesses, it's only a matter of focusing on the product/service benefits and setting it apart from its competitors. For example, It will not make a big difference if you sell red apples and your neighbour sells yellow. Both apples are healthy food and contain the same nutrition and vitamins. Ultimately, you have almost the same product, creating the same experience for the buyer. But if you target a specific problem and then present the benefits of your product, that is when you will generate interest in what you sell. Let's say your statement is something like: We sell apples for people with weak immune systems. Our apples, full of vitamins, are a natural way to help you boost your immune system so you no longer stress in the coming winter.
Of course, this is just a simple example of how to focus first on the problem. But it represents a generic value proposition. Yes, there is a vast amount of variety in products. Starting from the food industry, going through cosmetics and finishing in the entertainment industry. Any of those serves different problems or creates specific satisfaction in their buyers. But what you need to discover is why someone will buy your product. What problem are you solving? Any business should present a solution for something. That something can be a real problem, momentum need, or even a fad. Most successful brands offer products or services by focusing on the needs of a specific target group and presenting the solution. And this is what leads us to the third point of developing USP.
3. Develop a unique selling proposition - USP
What makes your business different from its competitors? The USP is one of its few principles of brand differentiation. It is your unique selling proposition (USP) and is an essential part of any effective branding strategy. Your USP should set you apart from the competition and resonate with your target audience:
- Provide the solution in a specific way
- Gives extra benefits
- It is innovative
- Serves only specific group
- It is quicker
- It last longer
- It is timeless
For example, suppose you're an accounting software company. In that case, your USP might be that you offer:
- The most user-friendly interface on the market
- It makes accessible the whole process of collecting and calculating
- One-time payment.
4.• Solidify brand promise with the value proposition and set expectations. A solid value proposition is an essential part of your brand promise. It sets expectations and helps customers understand what they're getting when they buy from you. The value proposition is the core of your brand promise. Your brand promise should include - What do you offer? How do you deliver on that promise? Why should people care? Let's go back to the previous example with the apples. You might already figure it out - focus on the problem, present a solution and pitch on the values.
5. Create visual branding guidelines
Visual branding is just as important as verbal branding, if not more so. After all, people are drawn to visually appealing brands. That's why it's essential to develop visual branding guidelines that capture the essence of your brand. These guidelines should include everything from logo design to colour schemes and typography. Once you have these guidelines in place, you'll be able to ensure that all of your marketing materials are consistent with your brand identity.
Conclusion
Branding is essential for any B2B business looking to succeed in today's competitive marketplace. Narrowing down your target audience by focusing on a problem and presenting a solution is fundamental. Developing a unique selling proposition will separate your business from its competitors. The value proposition creates trust in the brand's promise and sets expectations. By creating visual branding guidelines, you'll be well on establishing a solid brand identity for your business.
Stay true to your brand and follow its heart
Metaka Mfm