Harvard's John Quelch offers a summary of his study regarding B2B brands, on his Harvard Business Online blog post here. His post, titled "How to Build a B2B Brand," cites five characteristics of leading global B2B brands. They are...
- The CEO is a willing brand cheerleader, loves the brand heritage and is a great storyteller. The CMO sees his or her purpose as helping the CEO achieve this role.
- The CEO understands that building brand reputation reduces commercial risk, insulates the company in a crisis and provides the common purpose that can bond all the company's stakeholders.
- Efforts are focused on a single, global corporate brand rather than individual product brands.
- The payback on marketing expenditures is measured rigorously to the satisfaction of the hard-nosed engineers and finance staff who run the typical B2B enterprise.
- Coordination of company websites worldwide to present a consistent face to stakeholders is the best way to get control of marketing communications that may have become too decentralized.
I'm thrilled to see this conversation, and I added to the discussion in my own comment. In essence, I said:
- The earlier adopters of global brand strategies, like Accenture, will enjoy the "ownership" of brand promises, making it harder for other global B2B brands, especially in the same or tangential sectors, to own brand promises that are even slightly similar. As B2B and professional service firms increasingly jump on the Brandwagon, developing a valuable differentiation strategy will become critical.
- Accenture is nearly singular in its devotion of a significant level of resources (time, money, longevity of effort, etc.) to promulgate its brand message. I haven't seen many firms devote quite as much focus to brand building as has Accenture. Not that other firms aren't trying. I recently described in my monthly newsletter, The Marketplace Master, how leading accounting firm Grant Thornton has grown awareness of its own brand promise through a steadily increasing advertising budget; an initiative that has resulted in a corresponding increase in revenues.
What other B2B or professional service firms do you think are branding leaders? How unique is their brand promise, especially from the brand promise of their competitors? Who's putting a lot of effort into global branding?
