Until recently, B2B companies could win plenty of business by relying on in-person meetings, follow-up calls, and conferences. Purpose-driven brands were more reserved in the B2C space because B2B vendors relied more so on the sales team to create a sense of authenticity.
But the digitalization of the economy has changed that. The B2B buyer’s journey is highly fragmented, relying heavily on digital tools to research vendors and make purchasing decisions. Most B2B buyers have almost finished the buying journey before they reach out to a sales rep.
As such, B2B businesses need to think differently about they create authentic engagement with their buyers.
This is a key advantage purpose-driven brands have now in the new digitalized B2B space. They have engaged buyers on an authentic level. In fact, as Deloitte shows, purpose-driven brands enjoy higher market share gains, grow three times faster than their competitors, and achieve a higher workforce and customer satisfaction.
Looking to develop your brand’s purpose? Here’s what you need to know.
What Exactly Is a Purpose-Driven Brand?
One of the greatest challenges of developing a purpose for a brand is conveying that sense of authenticity. Put simply, a brand’s purpose is the â€œwhyâ€ of the company.
As Simon Sinek explains, most companies know what they do, whether it’s selling soap or SaaS. Further, some can clearly communicate how they do what they do. However, very few can articulate why they do it.
Too often, companies try to use purpose as a halo effect because they don’t want to look like they’re only in it for the money. But most buyers can sense this as immediately inauthentic.
Why does your brand exist? There are lots of ways to make money, so why did you, for example, choose to develop CRM software? Because you believe companies that better serve their customers can contribute to the greater good of society? Because more efficient business processes lead to greater sustainability?
Since B2B is corporate in nature, the assumption is that buyers are attracted primarily by how brands differentiate themselves through products or services, but this isn’t true. An Accenture Strategy survey reported that over 60 per cent of buyers wanted companies to take a stand on issues like sustainability, transparency, or fair employment practices.
Where does your company stand on these issues? How does your offering represent your beliefs?
These questions are getting to the why of your business. The challenge now becomes aligning your company around this why and clearly communicating it to your buyers.
Helping Purpose-Driven Brands Deliver Their Message
As a growth marketing agency, Pulsion has the data-driven methods to help purpose-driven brands engage their buyer persona. Using advanced analytics, we can determine the right message and deliver it to the right people at the right time using the right channels. Now your website, social media, PPC, and other multi-media marketing assets are working cohesively to drive the most ROI.
Ready to grow? Call 1-866-554-1465 or visit our website today to request a free proposal.