As a global leader in delivering customer experiences solutions to transform customer journey, Wavetec provides a diverse portfolio of solutions from queue management systems, to digital signage, customer feedback systems, service area design and financial displays.
It has been debated by many that branding has no importance in business-to-business marketing because b2b companies focus on making their product portfolio more reliable, fastened and cost-effective than the competition. They prefer spending more money and time on R & D so that they remain active and prosper in highly competitive environments to lead in the changing marketplaces companies have to adapt.
But the crucial question is how in the long term these companies will truly distinguish their offerings and be pertinent to their customers? This is where brands come in because now the big trend in business is to move away from product-led to brand-led.
Branding highly matters in b2b markets as it is an entry barrier for competition and acts as a strategic tool by helping your business to connect with the customer on many levels and in ways that matter. Branding in b2b marketing acts as a value creation engine; it reduces business uncertainties and risks, generates cash flows for the company, and leverages more profits for the company.
Nowadays technology has led to brand significance in the B2B world and the core task of brand management is to increase brand equity, profitability, and sales (gain market share).
The major dimensions of benefits upon which technology companies should build positioning platforms are functional: what our brands do; economic: what our brands mean to the customers in terms of time and money; and emotional: what our brands make them feel.
A brand that exceeds the functional and economic levels by providing emotional advantages will charge an incremental price premium and build a strong competitive advantage and customer brand loyalty.
To strengthen our company in the minds of our business buyers all, we need to have is a long-term brand vision/purpose because a brand is a mental patent registered in the minds of customers.