Brand Value – What Does Brand Value Mean To A Small Business?

The most common understanding of brand value is a percentage of financial value assigned to the brand’s name. It is an educated guess based on how much more a customer will pay to be associated with the brand.

Let’s move past the educated guess part and toward the trust factor associated with the brand.

Nike, BMW, Pampers, and Southwest Airlines all covet their brand value because it represents a repeatable and trusted experience associated with the brand. In essence, it’s the brand’s reputation.

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Are You Investing In The Right Marketing Channels?

Most B-to-B marketers are faced with the dilemma of more marketing channels than resources.

We are living in the age where there is a marketing channel or marketing platform for almost every aspect of B-to-B marketing. From outbound channels for customer acquisition to platform channels for managing the marketing process.  It seems there is a provider at every turn offering the latest marketing technology with promises that their technology will wholeheartedly produce the marketing results you are looking for.

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Where Is The Urgency?

Smaller manufacturing firms are still viewing marketing as an expense rather than an investment.

Why do manufacturing firms treat marketing as an afterthought?

Currently, I’m in prospecting mode for new business. Saying good bye to Dallas and hello to Denver has required me to rev-up my prospecting skills and make business contacts in a new region. One of the realities I’m seeing is the lack of urgency or thought that manufacturing firms display toward their own brand.

Let me explain. There are fewer big dog companies in Colorado than there are in Texas. This is due to several factors, including cost of living, strain on natural resources, availability of affordable housing, etc. For comparison, the population of Dallas and Fort Worth is greater than the entire state of Colorado. Most of the business activity in state is spread out along the front range. Some market segments such as healthcare and recreation display some pretty savvy branding chops. However, many of the smaller manufacturing firms are still viewing marketing as an expense rather than an investment.

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