Creating More Brand Awareness
How supply chain companies can stand out in a crowded market
In the past, supply chain companies have relied heavily on networking and word-of-mouth to conduct business. Building relationships and partnerships through personal connections, industry events, and referrals was the norm. However, with the rapid growth of the industry, the landscape has become highly competitive.
In this new era, it is crucial to recognize the importance of creating strong brand awareness for your company. Establishing a recognizable and reputable brand is no longer a luxury but a strategic necessity. By actively promoting your company’s unique value proposition, highlighting your expertise, and showcasing your track record of success, you can differentiate yourself from the competition, attract new customers, and secure lucrative partnerships. Investing time, resources, and effort into brand-building initiatives will ensure that your company stands out amidst the increasing number of options available in the market. The future of your company lies in your hands and it starts with building a strong and influential brand.
What is brand awareness and why should you care about it?
Brand awareness refers to the level of recognition and familiarity that potential buyers have with a particular brand or company.
Having a strong brand awareness means potential customers are more likely to consider your business when they are making purchasing decisions. It can also make it easier for your business to attract new partners and suppliers, as they are more likely to recognize and trust your brand.
Strong brand awareness can also differentiate your business from competitors and give you a competitive edge, increasing your market share and improving overall profitability.
The building blocks of brand awareness
Brand awareness should be a key part of any annual marketing strategy. As you review the plan to improve brand awareness, here are some key elements that should be brought to the table:
- Clear Value Proposition: every piece of your brand messaging should revolve around your company’s unique value proposition. Your value proposition should set you apart from competitors and clearly state the specific benefits and advantages your solutions offer to clients. If your team hasn’t created a key messaging framework to guide your company’s value proposition and overall messaging, that’s a great place to start.
- Consistent Brand Identity: a strong and consistent brand identity reflects your company’s mission, values, and personality, and should stay consistent throughout your marketing elements so your company is more credible and recognizable. If your team doesn’t have a brand identity guide outlining logo usage, color palettes, typography, imagery, voice and tone – start there.
- Thought Leadership: does your team have a plan to position you as an industry expert? A brand awareness plan should include content marketing, speaking engagements, and participation in relevant forums to position yourself as a credible authority on the subjects your audience cares about.
- Engaging Content Strategy: content strategy should focus on creating informative, relevant, and engaging content utilizing various mediums such as blogs, case studies, videos, and social media to educate and engage your audience. Ideally, this content should speak to your audience’s pain-points and offer valuable insights into solving their problems.
- Strategic PR and Media Relations: your plan should outline how and where your team intends to secure press coverage and media mentions to enhance visibility and credibility within the supply chain community.
- Networking and Partnerships: a good marketing plan identifies industry events, conferences, and associations your target market participates in and ensures your company has a presence to amplify your reach and open doors to new opportunities.
- Digital Marketing and Online Presence: to support your brand campaign, the plan should also leverage digital channels to reach and engage your target audience effectively.
A successful brand-building marketing effort requires a consistent and long-term commitment. By focusing on these high-level components, you can create a powerful and influential brand that resonates with supply chain professionals and drives your business forward.
What you can measure, you can manage (and improve)
Measuring brand awareness can be a challenging task, but your marketing team should always define what they will measure and how. Here are a few ways to think about measuring brand awareness and perception:
- Surveys: ask your target market how familiar they are with your company, if they recognize your logo, and what they think of your business
- Social Media Analytics: track how often your brand is mentioned and how engaged your followers are with your content
- Online Reviews and Ratings: analyzing online reviews and ratings can provide valuable feedback on brand perception, customer satisfaction, and areas of strength or weakness
- Website Analytics: look at metrics like unique visitors, time spent on site, and bounce rate to determine how many people are aware of your brand and engaging with your content
- Search Engine Optimization (SEO): track how many people are searching for your brand or related keywords, as well as how high your website ranks in search results
- Sales Metrics: look at how many leads and conversions you get from your website or other marketing channels to see if your brand awareness efforts are paying off
By measuring brand awareness, you gain valuable insights into the effectiveness of your brand building efforts. This data allows you to make data-driven decisions and refine your marketing strategies to improve your brand’s visibility and impact.
To thrive in this new era, it is imperative for supply chain companies to prioritize brand awareness.
And if your marketing team needs a boost or an outside perspective, don’t be afraid to ask for help. The marketing experts at Virago are standing by to help put the building blocks in place for your effective brand strategy.
We partner with our clients to create compelling content, deploy demand and lead generation campaigns, and refine their overall conversion strategy (and much more). If you’re interested in partnering with a marketing agency to take your supply chain marketing efforts to the next level, get in touch.