The benefits of brand marketing are critical today. In so many business to business companies, just 25-30% of leads are attributed to marketing efforts – and some might even say that these numbers should be even lower. Regardless, of that 25-30%, at least half if not more, arrive via your website and searches for your brand, rather than from a specific marketing campaign that you’ve implemented.
Sadly, many B2B organizations don’t like to even mention the word “branding”. However, this opinion is misguided. If you are only thinking of the term “branding” as the conglomeration of logos, and brand guidelines, think again. The important part of branding is the opinion that others have of your company before ever really interacting with you. And advertising isn’t the only way to build a brand, there are myriad other ways as well. Think: public relations, content marketing, social media – maybe even internal marketing.
Branding is an important means of creating awareness and a reputation for your products or services. And when you focus on branding, here are some of the results you might see.
More than any articles they’ve read on the internet, more than the fancy PR campaigns put together by the best of the best, people trust word of mouth references more than any other method of marketing. So when either a peer or a previous client recommends your company, thanks to brand marketing, you’re in luck. That individual is much more likely to actually get in contact with your company because a) they’d already heard of your company, and b) your company was recommended by a friend or acquaintance.
More Effective Cold Calls
Cold calling is such a dreaded term, for those on both the giving and receiving ends. However, a cold call received from a company that someone has already heard of is much more likely to be given the time of day. So even if the person on the other end of the line isn’t ready to work with your company just yet, if they have already heard of you because of your brand marketing efforts, the call is likely to be much more effective than it otherwise would have been.
Increased Internet Traffic
When people know your brand, they are much more likely to either search for your brand via a search engine, or else directly go to your website. Looking at statistics for any company over time will prove this to you. For example, Airbnb was started about five years ago. For the first two or three years, hardly anyone was interested in the company. However, today, Airbnb receives the same amount of search queries as Alaska Airlines, a company that has been around for decades.
Higher Registration Rates
This applies to things like your opt-in email list, etc. If you log on to a site that you’ve never heard of before and they ask for your contact information, you’re much less likely to give it to them than you are to a company that you’ve heard of several times before. Besides, if the visitors already have heard of you, their reaction to the content you offer them will be much more positive and less skeptical as well.
There are several other benefits of brand marketing, but these are some of the most tangible. So, even if you’re a relatively small B2B business, think about how some aspects of brand marketing can actually be beneficial for you. Your budgets may be small, but remaining the best kept secret since sliced bread isn’t going to help. Start today by determining which type of brand marketing will be most effective for your company!