When choices proliferate, branding ascends. The Internet has created a truly global marketplace. More national competitors and more international competition from Europe, India, China and Brazil are acting as a forcing function for the adoption of branding by B2B Manufacturers.
When it comes to branding, the only way to see the world is through the hearts and minds of buyers, where the brand really lives. Here is how B2B buyers think and the role branding plays for B2B Manufacturers:
Do I like them? (Emotions)
Manufacturing buyers, like consumers, buy emotionally. Branding helps tie a company to an idea or an emotion through storytelling.
Do I trust them? (Trust)
With so many manufacturers producing good products, and buyers starved for time, how does a buyer decide who to pick? Branding simply builds trust.
Is it safe to buy from them? (Risk Management)
Manufacturing buyers instinctively reduce risk for themselves and their corporations. Branding – by making promises of reliability, dependability and responsibility – inherently reduces the risk of buying a product from a company.
Will buying from them advance my career? (Power and Praise)
Manufacturing buyers, like most people, wish to advance their personal careers. Branding bestows bragging rights and personal power.
Am I being a good steward of my budget (Premium)
Manufacturing buyers need justification for paying premium for quality, service and total cost of ownership. Branding paves the way to justify the premium.