Thursday, August 6, 2009

Branding is back, baby!

For many B2B companies, the whole idea of brand building has taken a back seat in today’s economy. Everybody’s cautious with their investments, limiting their spending to price promotions and the like.

It’s understandable, but it’s also ill-advised. Why? Because in a shrinking market, you have to aggressively protect and grow your share. And you can’t do that by focusing on your products and services alone. Doing so only plays into the trap of commoditization.

We think it’s time to give brand building a little love again. Good thing we have this powerful tool nowadays that can help you build your brand directly and cost-effectively with customers. Maybe you’ve heard of it. It’s called social media.

Check out this decent primer in The New York Times on managing your reputation online (or, in other words, building brand equity).

Opportunities abound to connect with customers, solve their problems, anticipate new ones and cultivate trust every step of the way—exactly the vibe customers are seeking in these uncertain times. Social media is an excellent path to reinforce your brand and build the confidence your customers need to have for you to win their business. Yes, branding is back, baby! It’s online, it’s every day, and it’s here to stay.

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