Your Brand is Your Lifeline: a B2B SaaS Love Story
The punchline: Brand not only matters in a challenged economic environment…it becomes your lifeline.?
Running a global marketing team, I constantly weigh different priorities, competing investment options, passion projects, new channels…and keeping our CFO happy. My top-line goal is clear: drive the greatest enterprise value with the power of Marketing. How to best do that is the art and science of my job and that of most other Marketing executives.
In a thriving economy, brands bask in consumer confidence and spending. When times are tough, and budgets are more closely scrutinized, the items associated with brand-building often get red-penned first. That is wrong, short-sighted, and not the right move if the object of the exercise is enterprise value.?
Here are three reasons why investing in brand remains critical even as the budget purse strings tighten:
1. Brand builds trust, and trust yields loyalty
As a product marketer-turned-Head of Marketing, it pains me to say that… << gets choked up >> ... products and services have become increasingly commoditized. There are surely exceptions. Different companies are pushing the bounds of innovation more than others, but at the end of the day, your brand is the ultimate differentiator.?
The strength of your brand can be measured by the trust it builds and the loyalty it retains. That trust is achieved through a myriad of tactics: intimate client events, continued product innovation, or helping your customers make the most out of the technology they have already purchased from you, just to name a few.
Consistent brand investment shouts stability and reliability, building trust and loyalty. Trust isn't optional—it's essential. If brand investment is aimed towards trust-building, it has the power to drive an emotional relationship that winds up being far more monumental than any new feature or savvy pricing strategy.
2. “The second-best time is now”
There’s a famous proverb about trees - “The best time to plant a tree was 20 years ago. The second-best time is now.” I think of this quote when ruminating about brand. B2B marketing is inherently a set of near-term activities that affect revenue in both the intermediate and longer term. B2B SaaS customers are already a discerning group of buyers. In a downturn, competition for IT and software spending heats up, and these customers become even choosier about their spending.
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Brand investment helps you stand out. Gartner found that 89% of B2B buyers value content from trusted brands during decision-making. By keeping your brand visible - or, to extend the analogy, “planting a tree” today - you'll be the go-to when companies are ready to invest.?
It’s a worthy investment. Forrester Research shows that strong, differentiated B2B brands achieve up to 20% higher profitability. Be the brand that gets noticed.
3. Capitalize on lower costs while fueling long-term Growth
Economic slowdowns mean cheaper ad space. This is your golden opportunity to invest in brand-building activities now that generate a higher ROI later. . Seize the moment.
Cutting brand investment might save pennies now but costs pounds later. Brands that sustain or boost marketing efforts during tough times are better positioned for growth when the economy rebounds. Harvard Business Review data shows companies that keep ad spending up during recessions see an average sales growth of 256% over those that cut spending. Think long-term.
Brand investment isn’t a luxury—it’s a lifeline, especially in tough economic times. By staying visible, building trust, and fueling your future growth, B2B SaaS businesses will not only survive - but thrive.
So, what am I saying, friends? Invest in your brand now to emerge stronger and more resilient when the economic tides turn.
Executive Vice President at Marino.
7 个月Great stuff!!
For Emerging & Established Executives to Kickstart Visibility, I Wrangle Ideas & Curate Content to Accelerate Professional Goals | Go from Invisible ? Influential
8 个月These concepts apply to your personal professional digital presence as well- changes in the job market and economy can be unsettling, having a robust online visibility can be a career lifeline (as well as a business/product accelerator ??, people like to do bsuiness with people ) Thank you for sharing Eric Thum
Spot on! Brand investment in tough times is a golden opportunity to stand out and build trust - while others pull back. That's exactly the kind of insider wisdom we share every week at MarketersRemote.com (+ latest remote marketing jobs)