A Rose by Any Other Name? 4 Signs It’s Time To Rename Your Manufacturing Company
by Emily Swet
Is your B2B company suffering a failure to thrive? Don’t underestimate the power of your name. And when it comes to rebranding, don’t underestimate how detrimental a bad name can be, either. B2B companies are quick to list reasons why their businesses are stalling – limited marketing budgets, saturated markets, changing demands – but rarely do they associate a bad name with a stalled out company. It’s just a name, right? The thing is, even though you are selling to another business, you’re still marketing to another human being. And words have meaning. (You know, the whole pen mightier than the sword thing? Yeah, that.) So how do you know if it’s time to rename your manufacturing company? Here’s a cheat sheet.
4 Signs That It’s Time to Rename Your Manufacturing Company
- Your name is too plain. Basic names only work when you 1) are the first company in the field, and 2) have years to establish yourself, like General Electric. But imagine if a company like Amazon had been named GeneralOnlineRetailer.com. They would have been hard-pressed to stand out in the online boom of the 1990’s. (Amazon has an interesting naming story, by the by.) Take note of your competition and your standing before you choose a name like “Universal Plumbing Standards Corp.”
- Your name is meaningless to anyone but you. Initech, anyone? We understand that there are some names that have inside meaning or a rich personal history for your B2B company. But what does that mean to an outsider? It’s this logic that lead Quantum Computer Services to change their name to America Online, which directly translates their product and elicits an emotional response. Unless your name resonates your brand positively on an emotional or literal level, it’s just white noise.
- Your name is hilarious… and not in a good way. We’ll just glance at Analtech, who despite a near 50 year legacy, is rebranding to iChromatography – which not only explains what they do, but keeps those pesky web filters from blocking them in search.
- Your name is scandalous. It’s no surprise when a company like ValuJet has to rename and rebrand to AirTran after their crash in 1996. But if your business, innocently (and coincidentally) enough, happens to be called Lewinsky Auto Supply, it might suffer simply from association.
The right name for your brand will both value your heritage and leverage your position. Think it might be time for you to rename your manufacturing company? Drop us a line.
Continue ReadingBrand Management: Keep Your Creative Work Professional
by Ben Quinn
Pablo Picasso and his Cubism style of art is known throughout the world by the art illiterate and aficionados alike. His captivating work distorts reality and explores composition in ways that were not only ground breaking, but are considered by many as genius. What most people don’t know is that Pablo Picasso was a superb realist painter. It was only through years of experience, study, and practice that Picasso was able to achieve greatness by simplifying and breaking down his compositions into masterpieces. What does this have to do with buying logos, or brand management for that matter?
Picasso’s deconstructed bull.
“Learn the rules like a pro, so you can break them like an artist.” – Pablo Picasso
We live in a world where boards of beautiful art stream into your smartphone accompanied by 140 characters or less. It’s easy to forget that truly inspiring, thought-provoking work is usually the result of a lifetime of dedication. With so many out-of-the-box website designs and crowd-sourced logos available, it’s easy to see why companies take this approach. Unfortunately, this also sets the low bar by which most brands are measured — and managed.
There are many high-quality compositions out there, but if there is no story, no personality behind your logo, then it’s just an image. It’s not representative of the hard working people behind it.
When asked, most companies claim their product is superior to their competitors’. But think about it: it’s through the learning process, mastery and challenge of real work that superior products reveal themselves. The same is true for the brand you put forth. Anyone can buy a logo, but truly refined brands know to employ creative minds that take the time to get to know their clients. Copywriters and designers that put in sweat equity get to know the core of their client’s abilities. These are the ones that take a brand from good to great. Hard work and dedication starts in research, then flows over to the next steps of brand management, and trickles into each and every project. The ultimate result? A thoughtful, cohesive brand.
So when choosing your approach to brand management, build a relationship with a marketing team that will put in the work. Only then will you be able to break the established rules effectively and stand apart from your competition.
Continue ReadingB2B Monday Myth: Business Value Plays The Biggest Role In Influencing B2B Buyers
by MGB2B
The Myth: B2C companies need to worry about conveying personal value, while B2B customers only care about business value.
The Reality: Emotions play a bigger role in B2B buying decisions than you may think.
There is a major misconception about the influences on B2B buying. Google teamed up with CEB’s Marketing Leadership Council and marketing research firm Motista to survey 3,000 purchasers of B2B brands across various industries, and the results were surprising. They discovered that “B2B customers are significantly more emotionally connected to their vendors and service providers than consumers.”
Why is this? There is usually much more risk in B2B buying decisions than in B2C ones. Think about it: the buyer is spending a lot of money to make a major purchase, and needs to justify the decision to many people. More than 5 people are involved in the average B2B purchasing decision today. Not only is there a financial risk, but interpersonal and emotional forces are also prevalent in the workplace. Compare this to when a consumer goes to make a purchase; products that don’t meet expectations can be simply returned, and a disappointed spouse is more easily convinced than an unhappy supervisor.
The stakes are high for the B2B buyer, as their credibility is on the line. So, how do you successfully market your product or service? While logic and reason are an important key, you must also communicate personal value. Whether you are emphasizing opportunity for career advancement, respect in your workplace, or confidence in the product, follow these tips for success:
Homepage
It turns out that buyers don’t act in a linear fashion like we often assume. The decision-making process is actually very complex. We can be rather certain, however, that almost every buyer will at one point view the homepage on your website. This is the place to pull them in. Your homepage should have content that discusses both the business value and personal value of your product. Try using a call to action with some type of emotional appeal.
Make Personal Value Your Competitive Advantage
In above-mentioned study, Google also surveyed purchasers on their perceptions of different brands. It turns out, when it comes to business value, buyers don’t really see a difference between one brand to the next. What really differentiates a company is personal value. Emphasize the emotional outcomes of working with your company, and you’ll stand out amongst a sea of product characteristics.
Remember, You’re Talking to People
While it is easy to think of a corporation as a single entity, there are real human beings behind it. And that’s who makes the decisions. To keep this in mind, try creating B2B personas when investigating what type of content is relevant to your different segments. Remember, you are trying to gain attention from another person, just like you.
Utilize LinkedIn
While it may not be at the forefront of your mind when considering the buying process, 50% of B2B buyers use LinkedIn when making purchasing decisions. LinkedIn is the absolute preferred platform for creating a professional and authoritative brand. With LinkedIn, you can connect with your prospects and maintain current relationships. You’ve also got access to tools like Sales Navigator, to help target different audiences and generate leads. And by joining LinkedIn groups, you can monitor different preferences or issues with B2B buyers, and share relevant content to provide solutions.
B2C companies aren’t the only ones who need to convey personal value to their markets. While logic and reason are important, buyers emotions count just as much when trying to make sales. It’s time to get personal.
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