As a manufacturer of building products, your company focuses on making your products smarter, smaller, more cost effective and reliable than your competition. Like many manufacturers, it is continually finding ways to improve and add services so it can provide your customers with satisfying experiences. In order to stay alive and even flourish in the highly competitive building-product segment, this is understandable.
But what is your company doing to truly differentiate your building products and be relevant to your customers and prospects?
There isn’t any significant difference between the various brands… They are all about the same. The manufacturer who dedicates his advertising to building the most sharply defined personality for his brand will get the largest share of the market at the highest profit. – David Ogilvy, the “Father” of advertising
This is where brand comes in. And brands do matter in B2B marketing. Many owners and marketers in the building product manufacturing segment want to dismiss the notion of branding. I wholeheartedly believe it’s because they don’t understand what branding is at its essence. It may be due to the fact that “branding” has become one of the most misused, misunderstood buzzwords in marketing.
Ask 100 marketing professionals to define “branding” and you’ll get 101 different answers. Some believe its reputation. Others define it as what people think when they see your logo. These definitions aren’t wrong, they’re just too narrow and represent an external-only view.
Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services and it differentiates your offering from your competitors.
Branding is a strategic tool that can help you cut through the chaos of the building products market, get noticed and connect with your customer and prospective customers in ways that matter.
When you have a strong brand, you help your customers make good choices in today’s confusing, complex and risky marketplace.
By developing strong and consistent communication, your company’s brand has the ability to generate hidden assets that give them distinct advantages. This is what is referred to as brand equity and it is a form of wealth that is closely related to what your accounting department would call “goodwill.”