Brand. Anyone who has any experience in marketing understands that having a strong brand can provide a tremendous competitive advantage. So for companies marketing in the B2B space, what defines brand? And is the approach to developing a strong brand in the B2B commerce arena any different than developing a strong brand with traditional marketing techniques? Philip believes the rules of branding in the arena of B2B e-commerce are completely different from those of the traditional marketing world. Here are three important principles that drive brand value in B2B.
Brand. Anyone who has any experience in marketing understands that having a strong brand can provide a tremendous competitive advantage in sales, margins, and customer acquisition costs. So, for companies marketing in the B2B space, what defines brand? And is the approach to developing a strong brand in the B2B arena any different than developing a strong brand with traditional marketing techniques?
I assert that the rules for establishing a brand in the arena of B2B e-commerce are completely different from the rules for establishing a brand in the traditional marketing world. As business shifts from offline to online communication, marketers are forced to reinvent strategies and use new tools to build brand equity.
Here's a look at three important principles that drive brand value in B2B:
Brand Matters in B2B
There is a great new term that is being tossed around in marketing circles today called "mindshare." Although it's a fabricated word, I think it reflects the number-one objective of B2B marketing - maintaining the buyer's attention and associating your product or service with factors that influence loyalty. This is not a new concept; however, in B2B, performance and return on brand equity must be clearly demonstrated. The power of network communication via the Internet can short-circuit mass messaging, and customers will pay a premium for the business relationships associated with the transactions generated.
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