In his great book The First Dancer: How to be the first among equals and attract unlimited opportunities. Majid Kazmi said, “You have to ask the question to get the answer, even though asking the question means you didn’t know.”
It may sound paradoxical, but strength comes from vulnerability.
Talking to tech CEOs of tech SaaS companies, I always find that there is a strive toward new sales growth. In many cases, they will invest in sales software, sales people and sales assets.
Sadly, in may cases this investment rarely yield the results they were after. Why?
When I ask them the question, what makes people buy? they’re a little confused. When I ask them why people should buy their product or service, then they start reeling off a list of features and benefits.
This is not uncommon.
So, what do successful companies do?
In the competitive world of B2B tech, a strong brand is more important than ever before. A well-defined and executed brand strategy can help you differentiate yourself from the competition, attract and retain customers, and drive growth. So, the short answer is, they invest in their Brand. Why?
Why is brand important?
Your brand is more than just your logo and tagline. It’s the sum total of all the experiences that people have with your company, from your website and social media to your customer service and sales process. A strong brand is one that is consistent, authentic, and memorable. It’s a brand that people trust and can rely on.
In the B2B world, where purchase decisions are often complex and involve multiple stakeholders, a strong brand can be a critical differentiator. When buyers have a choice between two similar products or services, they are more likely to choose the one from the brand that they know and trust.
In a crowded marketplace, it can be difficult to stand out from the competition. A strong brand can help you do just that. By clearly articulating your unique value proposition and communicating it consistently across all channels, you can create a brand that buyers can identify with and connect with.
A strong brand can also help you to:
- Generate more leads and sales
- Command higher prices
- Increase customer loyalty
- Attract and retain top talent
- Build a strong reputation
The challenges of the 95-5 rule
The 95-5 rule states that only 5% of buyers are ready to buy at any given time. The other 95% are either browsing or gathering information.
This can be a challenge for B2B tech companies, as it means that most of your potential customers are not ready to buy when they first visit your website or contact you. However, it also presents an opportunity to build relationships with potential customers and nurture them through the sales process.
By creating high-quality content, engaging with potential customers on social media, and offering valuable resources, you can position your company as a trusted advisor and build a pipeline of qualified leads.
Why your Value Proposition is important?
Your value proposition is a clear and concise statement that explains what makes your company and its products or services unique and valuable to customers. It should be specific, measurable, achievable, relevant, and time-bound.
A strong value proposition is essential for any B2B tech company. It is the foundation of your brand and everything you communicate to potential customers. It should be used to guide all of your marketing and sales efforts.
The importance of planning and having a strategy
Before you start investing in brand marketing, it is important to develop a clear and concise strategy. This strategy should outline your brand goals, target audience, and key messaging.
It is also important to identify the right channels to reach your target audience. This may include your website, social media, email marketing, paid advertising, and public relations.
The importance of working with a trusted marketing advisor / consultancy
Working with a trusted marketing advisor or consultancy can help you to develop and execute a successful brand marketing strategy. They can help you to:
- Define your brand goals and target audience
- Develop a unique value proposition
- Create compelling content
- Choose the right marketing channels
- Measure and track your results
The benefits of marketing consulting for B2B tech companies are significant. By working with a marketing consultant, B2B tech companies can develop a more effective marketing strategy, improve their content marketing, undergo a successful business transformation, align their marketing objectives with their sales objectives, and track the results of their marketing campaigns more effectively.
According to a report by Gartner, 70% of B2B tech companies that use marketing consultants achieve their marketing goals. A study by Forrester found that B2B tech companies that use marketing consultants can expect to see a 20% increase in leads and a 15% increase in sales. And a report by Technavio predicts that the global market for marketing consulting services will grow at a compound annual growth rate of 9.2% from 2022 to 2027.
These statistics clearly show that marketing consulting can be a valuable asset for B2B tech companies. If you are a B2B tech company that is looking to improve your marketing results, then you should consider working with a marketing consultant.
Invest in Brand, you have no choice
When taking al of the above into consideration. you really have no choice but to invest in your brand.
No matter how may sales calls, email outreaches and LinkedIn connection requests you do, your prospective clients has already been evaluating you. Most companies will have made their mind up of what they want, before they contact you, if they contact you.
If you would like to learn more, please get in touch and we can show you how brand can fit into your mix and how a joined up plan, will increase sales.