INSIGHT PAUL REES ASSOCIATES HOW TO BUILD A BRAND
In the simplest terms, brand building drives long-term growth and lead generation drives short-term revenue. Te two activities also impact one another. Over time, investing in brand awareness makes lead generation easier, cheaper, and more efficient. Te ‘long’ drives down the cost of the ‘short’.
Te reason for this is surprisingly common sense. When we decide to buy something, we tend to prioritise brands we’ve heard of before. We also treat brands we’ve never heard of with a degree of suspicion. After all, if they were that good, surely we’d have heard of them?
Tis is just as true for B2B as it is for B2C. For instance, imagine you were going to buy a CRM for your business. Te chances are you’re going to gravitate initially towards the big names like Hubspot or Salesforce, in much the same way as you’d gravitate towards Adidas or Nike if you were going to buy trainers.
Brand awareness may be harder to measure and require long-term commitment, but it is a key factor of business growth, and it has been proven to help large and small businesses.
Brand awareness isn’t just for global B2Cs
It can also make a big difference for B2B SMEs for the following reasons:
A more competitive and differentiated offering - Once a positive brand image and reputation has been established, this represents a unique competitive advantage.
More inbound enquiries – Driving brand awareness generally leads to more prospects seeking you out. Companies with higher brand awareness tend to receive a greater volume of branded search and inbound enquiries.
Increased lead generation and sales efficiency – When people are more aware of a brand, they are more likely to respond to emails, cold calls, and marketing campaigns vs brands they do not know. Tese leads also tend to have higher close rates and shorter sales cycles, because they have a greater level of trust than a brand that someone has never heard of.
Higher business valuation – Strong brands carry significant value and can have a big impact on company exit values. After all, when someone buys a company, they’re also buying the brand. Tey can be valuable for their ability to generate future revenue streams, enhance brand recognition, or provide a competitive advantage.
In summary, developing a strong brand and driving brand awareness is beneficial for companies of all sizes. It’s a key ingredient for business success and should not just be reserved for the brand elite.
P22 WIRE / PULSE / INSIGHT / REPORTS
Within B2B (business-to- business) betting & gaming marketing (like many other B2B sectors), communications tend to be largely functional, with a focus on product
features and benefits, rather than directly referencing customer needs and pain points (which has been the modus operandi for many B2C (business-to-consumer) brands in other sectors).
On average, betting customers switch between three-to-four betting apps on their phones with little separating them outside of surface-level
differences such as marginally better odds or bonuses, often
referenced in ads. For younger bettors who grew up playing video games and are used to the depth, high-end graphics, and social experiences that go along with them, providing them with entertainment
value and design is the key to capturing their attention and loyalty.
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