It’s time to think global.
I was reading an article the other day on branding for manufacturers and engineering companies in the UK. It outlined that manufacturing in the UK makes up 10% GVA, 45% of exports and directly employs 2.7 million people. The UK is one of the leading players and is currently the ninth largest manufacturing nation in the world. It’s big business, and because of this, it’s extremely competitive, with companies bumping and jostling for space in an already bursting marketplace.
Its not just manufacturing
Looking at some of the top manufacturing companies locally and nationally I found their branding and website design was poorly implemented, lacked coherence in social marketing and my assumption was either a lack of interest in the digital world, don’t feel branding is an important message to potential new customers or felt their website didn’t warrant any further investment.
This got me thinking about branding and marketing about other sectors of the market as well. Retail is spending a large proportion of their income on marketing and user friendly websites or apps to expand avenues to customers. Hospitality, take advantage of social media sites to boost customer reviews, or link into affiliated sites to gain maximum exposure.
Its not just manufacturing but other businesses seem to be content with a brand strategy and website that is either years out of date or was doing nothing to increase their exposure in the marketplace.
There are also hard-working companies, manufactured goods or services of remarkable quality and effectiveness that are being tragically forgotten and marginalised.
So, what is an effective all-encompassing branding and marketing strategy.
The thing is, only 54% of B2Bs have any have a branding strategy, thinking it does not apply and is an unnecessary cost.
Only 7% of this total have what we would be classed as ‘strong and differentiating brand value propositions’, which goes from simply being ‘recognised by name’ to the top level of being coveted and commanding higher prices above their competition.
Developing your brand will elevate your company above the competition, especially effective in a highly competitive and commoditised market sector.
Are you Apple?
Of course, competitive costing and the quality of the product is always a big contributing factor when it comes to sales, but there are even bigger questions that businesses should be asking themselves – deeper questions that go to the very heart of the company.
Begin by looking at what makes your product or service special. What are your strengths? Hone in on them and push them to the fore. Don’t be all things to all people. Find a niche market. This will set you apart from your competitors. How’s that Logo looking? Is it instantly recognisable, like that of Apple, Nike, or Coca-Cola?
Well, if not, make sure yours is.
It’s no good having the greatest product or service in the world if people don’t know that it exists. You have to reach out to new audiences. Invest in a good web page, write blogs and articles about your product that show it in its best light. So, now you’ve addressed these key areas, what will a business gain from developing their company brand?
When a quality brand is consistent, it becomes loved and revered. It becomes special. When you are providing a high-quality product in a niche market, it’s a given that people will invest in the best. Pricing has become de-sensitised. Now it’s up to you choose the premium price for your product.
An established brand needs no explanation
When you have a recognisable brand, the client knows your product without you having to unpack what it is, or what it does. As more people experience the brand, understand what it stands for and appreciate the quality, inquiries will naturally increase. A well-known brand can gain traction from the mainstream media and independent analysis in specialist magazines and websites. That brand of yours is now working for you. A strong brand means that your customers will come to you.
So ask yourself honestly
Have you found a niche in the market that only you and your product can deliver?
Are you trusted by your customers, because they know that you provide a service and products that will always be Gold Standard?
If not, it’s time to look at your set up and make changes. It’s time to talk to us about getting a branding strategy that works for you and your product or service. It’s time to stand out, be bold and ask, as a business owner, what makes you special? After all, fortune favours the brave.