The latest Omobono Business Breakfast gathered representatives from global telecoms, professional services and property management companies for a lively and thought-provoking conversation to exchange their experiences and ideas around Byron Sharp’s book “How Brands Grow: What Marketers Don’t Know” and how it applies in the B2B world.
Please click here to read our review our review of Byron Sharp’s book.
The session began with Omobono Creative Director and Co-Founder, Chris Butterworth setting the scene and then posing a number of questions to get the discussion and debate going.
“In our chase towards the digital future and taking advantage of digital technology has advertising forgotten what it is good at?”
“In the B2B industry have we lost the ability to tell stories and make brands famous?”
“Are we too focused on targeted marketing activity rather than brand building?”
Here are some of the key discussion points and insights that emerged from the morning. We hope this will provide you with some food for thought and pose some initial questions you could be asking yourselves…
Rational vs emotional…
As marketers we like to think that people put more thought into the purchasing of a product than they actually do. Byron Sharp suggests that exercises in segmentation, brand differentiation and personality are mostly wasted effort because most purchase decisions are made with the emotional brain. Are you striking the right balance between telling brand stories that connect with people on an emotional level versus whilst still delivering the more descriptive and rational information and messaging?
Instead of focusing on differentiation think about creating consistent, frequently used, easy-to-remember brand assets (e.g. logo, tagline, colour, packaging etc…). Over time this will place your brand front-of-mind when a customer is ready to buy.
Market to the masses…
How Brands Grow demonstrates that successful growth brands (ones with the highest market share) are the ones with universal appeal and the biggest customer base. This suggests that it makes more sense to advertise to everyone in the market for a product / service you sell rather than limiting your communications to a small, segmented audience. Are you only focusing on your existing client base? What could you do to connect with a broader audience? As someone pointed out, IBM used to be a consumer brand.
Don’t ignore face to face…
With much of our time, money and resource focused on the smart use of technology, we mustn’t forget the valuable role of physical brand experiences. Activities such as events are a crucial part of lead generation, tracking who’s who and genuine relationship building. Are you making the most of these opportunities?
“B2B is a very long cycle… interesting to look at events and say that this is the opportunity for us to make our biggest impact in terms of relationship building”
As Chris pointed out, the great John Wanamaker quote, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half” may after all not be true. If Byron Sharp’s data is correct, it’s in fact the unmeasurable impact created by broad scale promotions that enable the final sell.
If you have any questions or would like to discuss any related issues you might be facing please get in touch… we are here to help.
Interesting related links…
People don’t buy what you do… they buy why you do it!
Great example of connecting with people emotionally