Influence Powerhouse: Unleashing Strategies for Unprecedented B2B Brand Investments

To convince senior leadership of the value of brand marketing in B2B firms, it is essential to transform into an "internal influencer."

Despite the increasing recognition of the advantages that brand marketing can bring to businesses in the B2B sector, senior marketers continue to face challenges in persuading leadership of its significance.

"I have spent years developing my influencing skills, believing that I would use them to persuade the market to favor Xero. However, it seems that I am actually using these skills more internally to convince the business to provide us with the necessary operational space," said John Coldicutt, the marketing director at Xero. He shared this insight during a panel discussion on B2B brand building at Our Website's Festival of Marketing today (5 October). In fact, he went to the extent of hiring marketing expert Les Binet to deliver a presentation to the leadership team, thinking that they might be more receptive to his ideas.

Coldicutt stated, "Maintaining consensus and acknowledging this as a worthwhile investment requires significant effort."

This idea resonated with the panel, particularly Katherine Bailey, the marketing director of professional services firm EY. Bailey expressed frustration in constantly having to combat short-term strategies in favor of long-term brand building for sustainable growth.

Christopher Stemborowski, the senior director of global strategy at ServiceNow, finds it frustrating that the board readily understands and accepts a product lead's proposal to build a server farm and generate profit over eight years, but fails to comprehend the same long-term vision when it comes to building a brand. This lack of understanding, according to him, is the underlying reason why many brands rely heavily on short-term measures.

Friends in finance

Every member of the panel understood the importance of cultivating connections within the company in order to obtain funding for B2B brand marketing. Bailey emphasized the significance of maintaining frequent communication with her CFO and prioritizing the nurturing of that relationship to ensure a strong focus on brand investment.

According to Coldicutt, one thing that always excites CFOs is the ability to increase prices. If you can show that brand building leads to higher price elasticity, it will definitely catch their attention. This is because the more your brand resonates with your audience, the less they focus on price.

Stemborowski, on the other hand, believes that in order to prioritize the brand in a business, we must accept the reality that many companies can grow and be profitable without marketing. He thinks that having a great product and a strong sales team is enough to make a company go public. However, he argues that we should focus on achieving incremental growth, realizing that it cannot be solely achieved through a great product and a stellar sales team. This is where the role of branding comes in.

According to Coldicutt, the shift towards the power of brand in B2B may be a permanent change. He sees the failure to deliver brand building messages that truly resonate with top-level decision makers as a missed opportunity. Coldicutt emphasizes that it's crucial to remember that people, with emotions, are the ones being sold to in B2B relationships. He compares the relationship between two firms in B2B to a marriage, noting the significant investment and time involved. He believes that brand importance in B2B surpasses that in FMCG, as consumers in FMCG may easily switch to a more convenient brand if available.