What comes to your mind when you think about a great Personal Branding?
Google, Microsoft and IBM are some of the most important brands in the world. These companies have built strong brand equity and are well-known in consumers’ minds. But who are these customers? Is it individuals or companies? Your brand strategy is determined by your target consumer.
There are important differences between Personal Branding for business-to business (B2B), and business-to consumers (B2C). How purchasing decisions are made is the key difference between consumers and individuals. Businesses make purchases together with many decision makers. It is essential to have a broad understanding of B2B brands and their market. This article will discuss the importance of branding B2B companies, and offer some suggestions on how to create a strong B2B brand.
>> Personal Branding differentiation for B2B
Many B2B companies are not able to differentiate themselves from other Personal Branding. The “Big Five” audit firms, formerly known as the “Big Five”, initially failed to distinguish themselves from each other. A survey conducted by PriceWaterhouseCoopers at the time of their merger showed that “the business community and the general public did not perceive any compelling differences between and among the Big Five.
All firms had similar defining characteristics, but they did not send the same message to their external audiences about their organizations. 2 “The situation is the same ten years later. While KPMG and Ernst & Young, Deloitte and PWC offer similar services, each firm excels in different areas. These large B2B audit firms are not well-known in the marketplace because they haven’t put enough emphasis on branding.
Dell computers is an example of a differentiated B2B company. Dell computers is an example of a differentiated B2B brand. They have not only used an innovative business model but they also communicate to customers and businesses the differences that make them different. Dell, for example, was the first company to offer customers the ability to order custom-built computers and to purchase them online.
Dell provides extensive Enterprise Resource Planning and e-commerce solutions for their B2B clients. Dell introduced a new services-and support program for businesses called “ProSupport”, which allows companies to customize Dell services to their needs. There are many companies that offer computer solutions for B2B environments, but Dell is a popular choice because they keep their promise to provide customized products and services, prompt delivery, and affordable prices.
>> From a House of Personal Branding, to a Branded House
A B2B company can improve their Personal Branding by changing from a house of brands to a branded house. Procter and Gamble is an example of a “house of brands”, which has many brands in a larger portfolio. The individual brands in the portfolio may not be necessary to be connected to Procter and Gamble.
A Personal Branding house, on the other hand is one that uses the same name for all products or services. For example, the Virgin Group. There are many Virgin brands, including Virgin Records, Virgin Media and Virgin Money.
A sub-Personal Branding or product launched by a brand house is easier to accept by consumers because it is associated with the original brand. Sub-brands can also enhance the brand’s image. To maximize the value of the original brand and expand its activities, a branded house strategy should be well thought out.
After the strategy has been established, companies need to carefully select new product or service categories so that the original brand is associated with them and gives them credibility. The Personal Branding house strategy comes with its own risks: failures in one category could put the entire portfolio at risk.
FedEx is a good example of a B2B company that has transformed their brand from being a house of Personal Branding into a branded home.
>> Internal Personal Branding: The benefits
Internal branding is the ability to make the brand known and believed by employees. It will be easier for staff to communicate the brand’s message effectively to clients and other stakeholders if the brand strategy has been established. This will result in a better customer experience and a higher bottom line.
A strong internal brand can help you attract and retain the best employees. People who feel connected to your brand will be more inclined to work for you. Once they’re part of your organization, they will continue to make a difference in your brand’s success. Internal branding cannot be underestimated. All internal processes, symbols, and practices must reflect the brand’s values.
Google can be considered both a B2B company and a business-to-business (B2C) organization. However, it is a strong example of an organisation with strong internal personality branding. Fortune Magazine ranked Google the #1 place to work in 2008 and 2007.
This is due to Google’s corporate philosophy, which includes principles like “Great just doesn’t suffice”. Google does search, Google believes in instant gratification, Google can be serious without a suit and Google needs information across all borders to name just a few.