In Italian cooking, anchovies - those salty little fish that usually come in tins or jars - are often added to a variety of sauces and dishes. Many people - including me - don't particularly like anchovies, so I'm tempted to omit them when using a recipe that includes them.
Professional chefs know this is a mistake. Anchovies add an important flavor element even though, in many cases, you don't specifically taste them in the final dish. If you leave the anchovies out, you will notice that "something" is missing, but you usually can't identify what the "something" is.
Strong brands play a similar role in the recipe for revenue growth at B2B companies. A brand that is well known and well respected will enhance the effectiveness of demand generation programs and make it easier for sales reps to win deals. And because brand perceptions tend to "stick" with potential buyers for a long time, a strong brand can make a significant contribution to long-term revenue growth.
The benefits of a strong B2B brand - and of investing in marketing programs that are specifically designed to build the brand - have been demonstrated in numerous research studies conducted over many years.
The CEB Research
For example, a 2013 study by CEB (now part of Gartner) compared the behaviors of high brand consideration customers with those of no brand consideration customers. High brand consideration customers were those who gave brands high scores for trust, image, and industry leadership. CEB found that high brand consideration customers were:
- 5 times more likely to give consideration to a brand
- 13 times more likely to purchase from a brand
- 30 times more likely to be willing to pay a price premium