Model Fairness Measurement For B2B Manufacturers
Brand strategy Insider helps marketing-oriented executives and experts like you to define and increase brand value. BSI readers know that we regularly answer questions from marketing-oriented managers and experts everywhere. Today we hear from Aaron, a chief marketing officer in Chicago, Illinois, who asks this question about measuring brand value for B2B brands.
"Branding Strategy Insider, I read your article about measuring brand value. How does this apply to B2B brands? "
Thanks for your question, Aaron. The same five drivers in our model above work for B2B brands. As the approach to marketing B2B and B2C brands shifts to B2P – Business to People, this model has become more relevant and we have used it to successfully measure the value of many B2B brands in a variety of categories. Let’s take a closer look.
Emotional connection and B2B
When you think about emotional connections as a driver, there is a temptation to believe that B2B brands have no emotions because they are very logical choices. This is not the case – B2B is bought both emotionally and logically – but the emotions for buying B2B are very different from those of consumer brands. B2B brands have to focus largely on risk reduction. This means that, unlike the excitement that consumer brands want to create, B2B brands need to focus on creating emotions that are designed to calm down – professionally, technically, financially, legally, and of course personally (for those who are committed to use the brand itself). The importance of measuring emotional connections to a B2B brand cannot be overstated.
Accessibility and B2B
Accessibility comes into play when a customer has to choose between a preferred brand that is less accessible and another brand that is more accessible. When the difference in brand accessibility is significant, people often choose the more accessible brand. In this case, one of The Blake Project's B2B customers routinely wins new business from competitors by having all items in stock and shipping overnight in a category where out-of-stock items are common, even if it is costly to shutdowns for the customers of the category.
Relevant differentiation and B2B
In terms of relevant differentiation, the relevant benefits in B2B categories tend to be more functional – durability, responsiveness, 24/7 technical support, etc. compared to B2C benefits, the strongest of which are usually emotional, experience-oriented, or self-expressive and non-functional .
Value and B2B
In terms of value, this is just as important in the B2B area and it is surprising how few other models for measuring brand value measure it. The value has a numerator and a denominator. The counter consists of the bundle of advantages that the brand offers. The denominator recognizes that the receipt of these services incurs financial, time and other costs. Value can be understood as the relationship between these two. We measure the perceived value of the brand. We also measure the perceived quality of the brand.
Awareness and B2B
One aspect that can make brand value measurement more complex for B2B customers is “awareness without support”, as we typically use customer, lead and prospect lists to do the research. This obviously has a negative impact on brand awareness. In B2C surveys, we almost always use independent consumer panels to remove the brand awareness tendency. One way to solve this problem for B2B customers is to buy lists. This works in some B2B categories (in which the target customer is well defined and easily targeted) and in others not so well.
Nevertheless, the same five drivers – awareness, relevant differentiation, value, accessibility and emotional connection – are just as important for B2B brands as for B2C brands.
We hope this is helpful Aaron.
Do you have a question about the brand and growth strategy? Just ask the Blake project
The Blake project brand value measurement system is comprehensive and measures each of the five drivers for insisting on customer brands – awareness, relevant differentiation, value, accessibility and emotional connection – as well as other factors such as brand vitality, brand loyalty, brand personality and brand associations. Contact us for more information on measuring brand value
Brand Strategy Insider is a service from The Blake Project: A strategic brand consultancy that specializes in brand research, brand strategy, brand growth and brand building
Free publications and resources for marketers