Manufacturers… What’s Your Brand Strategy?
Manufacturers often rely on their sales teams to develop and solidify relationships. However, with such a competitive environment, it is short-sighted to not only focus on sales. Even a B2B industry should have a brand strategy in place.
First, every business should have a unique selling proposition to convince prospects to work with your company as well as to increase loyalty among current customers. It makes the sales teams’ jobs easier by providing key differentiators in an industry where prospects and customers may see many manufacturers as all the same. This provides additional value for the brand beyond cost.
Second, it is pertinent to understand your customer wants and needs and determine if your company meets them. Plus, there should be a strong understanding of why prospects work with your competitors vs. you. Other than price, what is that key trigger point that would convince them to switch manufacturers? Often this can be done using market research with methodologies such as focus groups and surveys. For example, you can learn about what is unique about your brand vs. the competition, as well as possible emotional triggers you would not normally associate with a manufacturing company.
Also, it is pertinent to determine what marketing channels not only reach your customers, but can best communicate your brand’s story.
Even if your competitive advantage is not the most advanced or the cheapest, a market strategy is a way to tell a compelling story that helps your customer understand your brand in a simple and digestible manner.
As you can tell, there are many moving parts to a marketing strategy. Provoke Insights can help assist with a marketing or branding strategy and research needs.
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