When deciding between branding vs product marketing for your B2B business, you need to first understand the difference between these two strategies. By doing so, you’ll know how each one works and how they can benefit your business.
In this article:
- Brand marketing establishes your business identity by highlighting your values, beliefs, and value as a company.
- Product marketing centers your communication efforts on the product or service you want to promote.
- Ideally, both strategies would be the best option to attain success. But if you need to choose only one over the other, then it’s best to determine what aspect of your enterprise you want to empasize: your branding or your product.
Brand marketing establishes your business identity by highlighting your values, beliefs, and value as a company. It’s not just limited to a particular service you’re offering or targeting a specific group of prospects. It’s definitely not just your business logo, colors, slogan, or visuals. Branding is the overall image you want your business to have.
What It Brings to Your B2B Business
If you’re looking to strengthen your overall image as a business entity, then boosting your branding should be a priority. Some benefits of brand marketing include:
- Enhancing client recognition – Establishing brand familiarity also enhances credibility which can influence a prospect’s decision to say yes. New or unknown brands still need to be thoroughly vetted. However, companies with a well-established name may get a free pass right away.
- Building client loyalty – By managing your business’ overall image, including excellent customer service and value for money, you’ll increase client retention. It will also encourage more buyers to extend their contracts or return after a stint of exploration.
- Establishing edge over competition – Your brand name becomes top of mind for potential clients looking for solutions to their issues. This puts you way ahead of your competitors.
With product marketing, on the other hand, you focus your communication efforts on the product or service you want to promote. Marketers craft content including press releases, social media posts, videos, etc, with a more informed and powerful message.
Marketers can operate under the assumption that the product they’re selling is the best option for targeted leads. One way to do that is to align the marketing and sales teams. Whether it’s an update for an existing product line or an entirely new launch, salespeople should be abreast of every material. This way, they can confidently communicate this information to prospects and clients.
Product marketing starts at conception. The team does the research, works with the development team, and stays abreast of all the updates for the product. Once ready, it is packaged and launched with a common idea and message throughout all communication materials.
Benefits of Product Marketing for B2B Business
With a product marketing team in place, launching a new product will be processed and promoted more effectively. In general, having a dedicated team for product marketing will help your company:
- Promote understanding of the product for your sales team, clients, and prospects – The team has more intimate knowledge of the product which is also shared to the sales team. This means they can provide the right solutions for whatever pain points the customer has.
- Highlight the features and benefits of a particular product – Marketers can create more diverse and extensive content for ads.
With more focus on each product, a closer collaboration between the marketing and sales teams can also happen. This will lead to faster ROI at a more reasonable cost.
Brand vs Product Marketing
Ideally, both strategies would be the best option to attain success. However, not all companies have the budget or manpower to run them simultaneously. Bottom line is, the marketing strategy you need to implement depends on your budget and the general direction for your business.
If you need to establish your name in the industry first, then focusing on branding would be a better option for now. On the other hand, one product’s success may also establish your brand as a reliable name in the field. Marketing a product then would be more beneficial for your business.
Fortunately, technology has allowed businesses (big or small) to implement slightly more complex marketing campaigns with easy-to-use marketing systems. With platforms like N.Rich, marketers have full control over the ads and other materials they publish online.
First party intent data is also more extensive by collecting and sorting through IP and cookie-gathered information. Other major marketing platforms would cost you extra for campaigns, but no additional cost is needed for your running ads with N.Rich. Now, you can run your campaign with ease for a lower CPC.