One of the
biggest misconceptions with brand management is that it only applies to
business-to-consumer (B2C) markets. While product branding is a staple of
consumer goods, it also applies to industrial finished goods within a
business-to-business (B2B) marketplace. In fact, every company has a brand.
Every company has brand champions. Some are just better at identifying them and
using them than others. Therefore, we’ll review five strategies to using your
best customers to grow your company’s market share.
Understanding B2B Brand Champions
Simply put, your brand champions are those customers you consider to be your most loyal. These are the customers who will not purchase from other vendors – regardless of price or service. These are the customers where you have become their vendor of choice. In essence, you enjoy an incumbent position, one that provides you with the right of last refusal on quotations.
So, why are these customers so important? Well, aside from the obvious point of being extremely loyal, they also hold the keys to growing market share. In essence, if you knew who these loyal customers were, why they purchased from you, and why they considered your company the best, then you could use that knowledge to find other customers like them – thereby growing sales, increasing market share, increasing customer retention and becoming a dominant market player. Therefore, here are five simple strategies to get your most loyal customers to showcase your company’s excellence.
1. Video & Podcasts: Ever notice how well market leaders use their best customers. In many instances you’ll see their customers on videos and podcasts, bestowing the virtues and benefits of buying from their favorite supplier. You must do the exact same thing. Have your brand champions on your company videos explaining how your products alleviate their concerns, saved them time and money, and how your company helped improve their bottom line.
2. Testimonials: When thinking of testimonials, think not of those late night infomercials. Instead, think of the value of references from your market’s biggest and brightest enterprises. Think of the value of having them testify to how great your company’s product and services are. Testimonials must provide quantitative benefits, ones that speak directly to the strengths of your product and service offering.
3. Case Studies: What can a business case study do for your enterprise? In order to answer this question, think of the value of business whitepapers. Think of the value of companies that are able to demonstrate the savings accrued by using their longer-life products. Think about how the best companies are able to show the strengths of their cost-per-use product offering. Case studies should focus on how your product or service saved your customer money and the steps your company took to improve things for your customer.
4. Trade Shows & Conferences: The best way to use your B2B brand champions is by having them attend your industry’s trade shows, conferences and exhibits. Ask them to spend time in your booth. Ask them to stand alongside you when you give a training conference. Ask them to provide testimonials and discuss the case studies you did together. In essence, have them help you capture more customers like them by defining your market credibility and service capabilities.
5. Improve Service Competencies: Last, but certainly not least, you must use your brand champions to define and improve your company’s service competencies and strengths. In many instances these customers have insight into the strengths you may, or may not, be aware of. They alone can help define your service competencies in a way that allows you to accentuate them with other customers and prospects. In fact, they can tell you what you do well, versus what you need to improve upon.
To learn more about improving your company's market credibility, please read: Building a B2B Brand: Management and Strategies to a Better Market Position
It’s common to lose focus on your company’s service strengths and forget about the reasons your best customers buy from you. However, that’s why tapping into your most loyal customers is the surest way to understand their appreciation and get that message out to market.
Again, your company has a brand - it's merely a question of understanding what your most loyal customers think of your company, why they buy your products and why they appreciate your services.
If you are having difficulty with certain customers, then please go here.
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