Branding Strategy
Learn how branding strategies help B2B tech companies growWhy Branding is More Important Than Marketing
Your brand is who you are. Many tech companies make the mistake of engaging in marketing efforts before nailing down their brand.
The Right Branding Strategy
The right branding strategy depends on many factors. These include:
- Brand messaging: Who we are, why we do what we do. Getting this right is critical. It leads to what you say and how you say it, from ad headlines to web buttons that say things like the button below.
- Brand Identity: Tied to brand messaging, this includes your logo, colors, overall personality, and reflects your business.
- Brand position: If you think your product is for everybody, and try to brand it that way, it’s the fast track to failure. Some people buy fair trade, organic coffee from local coffee shops. Others buy their coffee at gas stations. Both are profitable, but they have different audiences. Find your niche.
- Brand equity: How much value does your name have in your space? You need to leverage any brand equity you have in your marketing.
I’ve heard people say their marketing budget is limited. Of course, it is. Even billion-dollar companies put a cap on marketing. However, considering your time and money, put your first and best effort into branding before you engage in marketing efforts.
Branding Haste = Marketing Waste
To grow your business, you need to develop, refine, and stick to your brand. I once worked with a tech company that was a leader in their tech space. They were experts and delivered their tech solutions with near-perfect execution. In order to gain some business in a slightly different space, they wanted to change their brand message and present themselves as a low-cost provider. It never works, Further, when you make such a move, it harms your brand down the road. You’ll have a more difficult time regaining your previous position.
Authenticity Matters
Parents, teachers
All good businesses insist that job candidates be honest on their resumes, verifying information however they can. The same is true for your brand. It is the resume of your business. Shouldn’t it be honest?
Developing an effective brand and brand strategy requires honesty with yourself, transparency, and understanding your audience. You’ll be able to develop a brand people will want to follow in spite of the areas you know might be lacking.
Brand First, Then Market
We develop and refine brands with all new clients. How do you develop a brand strategy?
Start with a SWOT Analysis
Survey Your Team
What do your team members think is great about your company and your product? What do they think is lacking? We don’t only ask the leadership, but everyone on your staff regardless of position. Different perspectives are important.
Survey Your Customers or Clients
It’s one thing for a CEO to share what he or she believes customers love. It’s another when a customer shares it directly, in his or her own words. What frustrates customers? Our clients are often surprised by what people share. Finding what people love or not says a lot about your brand.
Consider Your Place in the Market
Just like gas station coffee and premium coffee both have loyal customers, so does your product. Researching the market and how a product or solution like yours fits affects your branding. Understand your buyer, your