Brand recognition and awareness are an essential part of building credibility with customers. They also are vital elements that increase sales. That is why demand generation and corporate branding are two peas in a pod; one cannot do without the other when it comes to the growth and success of the business.
Some might think of marketing companies like Muze Creative as unnecessary, but this could not be further from the truth. Below are three essential reasons stakeholders and company founders should invest in brand marketing.
1: Brand Marketing Builds Credibility
People are inclined to buy products or services from companies that they know and trust. Take the examples of reputable businesses such as Amazon, Starbucks, and Apple, or even B2B companies such as GE and Intel. That is how brand credibility becomes a vital component in today’s competitive market; it will give your business that competitive edge.
It is necessary for marketing heads in a business that is in its growth and expansion phase or is a start-up to positions the company’s brand as a market leader. Moreover, they should leverage the founders’ profiles to create a positive perception for the brand.
CEOs are the face of the company; as such, they play an essential role in building the business’ image and credibility. They are viewed as the “thought” leaders who guide the employees. The staff, on the other hand, are the guardian of the company brand. They are accountable for maintaining the business’ reputation within the industry as they interact with clients and customers.
Never forget that a brand’s credibility and reputation are very fragile elements. The gender bias issues that pegged United Airlines after yanking a passenger from the seat to Uber’s sexual harassment case and the recent dead puppy incident are all perfect examples of issues that dent a company’s image and brand reputation and credibility.
Recovering from the damage that such scandals cause is expensive. However, with market credibility, you can rise above the dark clouds, if there is transparency, a show of empathy to the affected customers, and a fast and lasting solution to the problem.
2: Brand Marketing Attracts Investors
All company leaders, including the founders, should continuously invest in finding financiers that advocate for and support growth and exit strategies. Every prudent investor will view the business holistically before pouring in any money. They will not only evaluate the company’s reputation, but also assess the founders’ and CEOs’ credibility, the business’ financial performance, and its products or services before they make their investment decisions.
Investors will look at a company and what it has to offer. For most seasoned investors, a brand had to be bigger than being a representation of a product/service. Companies should exude a depth that transcends the focus on a specific solution for the masses.
Most companies are quick to distance themselves from their past mistakes. Startups and growth-phase businesses will have high praises for their products/services and not for the issues or challenges they are trying to solve. A company build on its products or services and not a problem it seeks to answer will not manage to handle a pivot that well. Most, if not all, startups will pivot at some point.
That is another reason for startups to invest in creating a corporate brand; something that customers and prospects can believe in and trust. It calls for establishing a robust support system for the business with trustworthy leadership.
View the company’s brand as a home. The more you invest in its maintenance and doing some renovations when and where needed, the more you preserve or even increase its value. Equally, the more you invest in corporate branding, the higher the company’s equity.
3: Brand Marketing Engages Customers
With today’s commerce having to embrace the digital age for its to thrive, more and more B2B buying decisions must be based on this fact. Many of the B2B buyers are empowered and informed consumers. How businesses interact with customer and vendors alike has changed. And CIOs are no longer the elite influencers of buying decisions.
Forrester, a business analyst firm did a survey that shows 90% of companies start their procurements with doing research. 74% of these businesses will conduct their research online, whether making an offline or online purchase.
According to the survey, most B2B customers will base their decision on their research findings. Many of them engage with the suppliers directly once they are more than halfway through the customer journey. Such a stage is too late for any business to influence decision making. Interestingly, digital engagement will take place right from the get-go.
Being able to read the customers’ “digital body language” make it easier for companies to serve them better. In doing so, businesses can come up with and deliver personalised, relevant solutions. It significantly bolsters customer relations, experiences, and enables the sales team to have more influence over their decisions making.
It all points to the need for marketers to design strategies that not only engage but also educate their target consumers as opposed to being a “sales tactic”. The marketing or promotional content should, therefore, be exciting and optimised for digital searches.