Brand Building is more relevant to B2C companies.
As a B2B marketer, you've been hearing this for a long time.The best B2B Marketers think differently.
The approach to B2B marketing has changed in recent years and the most significant change is the increasing importance of brand-building activities in the b2b space.
Transmission, the largest independent global B2B marketing agency, launched its report on
THE STATE OF B2B BRAND BUILDING, at the Cannes Lion Festival of Creativity 2022.
Here are a few KEY TAKEAWAYS from the report:
- Brand is climbing up the boardroom agenda, with 60% of B2B marketers considering it to be a priority for the CEOs and boards.
- High-performing demand generation campaigns may drive interest in your solutions, but they don’t change behaviour or affect relationships.
- Brands need to build some distinctiveness to encourage actions in their favour.
- There is still a clear lack of creativity in B2B brand building which helps in having this distinctiveness
- The Covid-19 pandemic has played a large role in brands’ changing priorities – especially when it comes to ethics. how a brand behaves, treats its employees, or actively stands up for ethical or social priorities matters so much more to the business buyers of today.
- 76% of B2B marketing leaders feel pressure to take an active stance on societal issues to meet customer expectations, and 66% champion societal causes for “both commercial and ethical reasons” but only 9% are actually building a cause-based brand for ethical reasons.
- B2B brands are not always honest and 56% of respondents to a survey reported that they are likely to be promoting misleading cause-based messages.
- Despite being part of the boardroom agenda, only 5-20% of annual marketing budgets are being allocated to brand-building programs.
- Research conducted by marketing experts Les Binet and Peter Field, states that “there tends to be an optimum effectiveness” of 60% for brand building and 40% for demand activation in communications budgets.
- Most B2B marketers state that brand-building budgets need to be 20-40% higher.
- Marketing still needs to provide the commercial value of the brand-building programs which is difficult to do in short term as compared to demand generation activities with almost instant results in some form.
Do you think the Brand building is under-rated in B2B space?
Here are a few KEY TAKEAWAYS from the report:
- Brand is climbing up the boardroom agenda, with 60% of B2B marketers considering it to be a priority for the CEOs and boards.
- High-performing demand generation campaigns may drive interest in your solutions, but they don’t change behaviour or affect relationships.
- Brands need to build some distinctiveness to encourage actions in their favour.
- There is still a clear lack of creativity in B2B brand building which helps in having this distinctiveness
- The Covid-19 pandemic has played a large role in brands’ changing priorities – especially when it comes to ethics. how a brand behaves, treats its employees, or actively stands up for ethical or social priorities matters so much more to the business buyers of today.
- 76% of B2B marketing leaders feel pressure to take an active stance on societal issues to meet customer expectations, and 66% champion societal causes for “both commercial and ethical reasons” but only 9% are actually building a cause-based brand for ethical reasons.
- B2B brands are not always honest and 56% of respondents to a survey reported that they are likely to be promoting misleading cause-based messages.
- Despite being part of the boardroom agenda, only 5-20% of annual marketing budgets are being allocated to brand-building programs.
- Research conducted by marketing experts Les Binet and Peter Field, states that “there tends to be an optimum effectiveness” of 60% for brand building and 40% for demand activation in communications budgets.
- Most B2B marketers state that brand-building budgets need to be 20-40% higher.
- Marketing still needs to provide the commercial value of the brand-building programs which is difficult to do in short term as compared to demand generation activities with almost instant results in some form.
Do you think the Brand building is under-rated in B2B space?