Don’t forget the brand…
As the number of digital channels has developed, along with the sophistication in the way these can be monitored for performance, the results borne from marketing efforts are available for all to see – and for agencies to be accountable for.
But what about those elements of the marketing mix that are more difficult to determine the impact of? You know, small matters such as ‘branding’!
Whilst it may be more difficult to measure, it doesn’t mean you should ignore it…research has consistently shown that a strong brand creates significant value for many B2B companies.
For example, a study by CEB compared the behaviours of high brand consideration customers with those of no brand consideration customers. Those customers that were familiar with a brand and gave it high scores for trust, image, and industry leadership were 5 times more likely to give consideration to a brand, 13 times more likely to make a purchase and 30 times more willing to pay a price premium.
If you think about it, this makes perfect sense…
Our relationship with a brand mirrors any relationship we have in our lives – the more we know and trust someone, the more willing we are to invest our time and emotions.
So perhaps in our obsession on the statistics delivered by a B2B marketing campaign, we should really be thinking about how much stronger a performance could be when delivered alongside a branding campaign.
And this doesn’t mean just paying the brand lip-service – it means embodying it at every step – from a website’s copy right through to the way employees communicate with potential clients.
So whilst it may be difficult to measure the return on investment from a brand, you should ignore it at your own peril!
At Definition Consulting we put brand at the heart of all your marketing and communications activity. Clients come to us because we take a truly end-to-end approach – looking to fulfil not only key performance metrics, but also working on carrying a consistent message across all marketing and communications activities a brand puts out. We believe that a brand should influence a company’s marketing and communications at every stage, leading the way rather than being left languishing in the background.
To find out more about what we do, take a look at our client stories or get in touch…