Adopting a B2B2C Mindset
During a joint marketing leadership conference in which I participated awhile back, a B2C participant commented that the term “B2B marketing” is an oxymoron. Naturally, this comment generated some discussion. The overly simplified difference is B2C companies focus more on content marketing, while B2B companies focus more on product or direct customer marketing. Maybe the B2C participant’s comments had some validity. This discussion does raise the question for B2B companies on their potential for B2B2C marketing—specifically, ingredient branding and innovation focus.
Ingredient Branding and B2B2C
Ingredient branding hit its stride starting in the 1980s and included brands such as Intel Inside®, Lycra®, Kevlar®, NutraSweet®, Dolby®, Teflon®, and Gore-Tex®, among others. However, the pace of ingredient branding has slowed in recent years1. What is common among these brands is the pace of product innovation, price premium they captured compared to the most likely alternative, and more specifically, the consideration of building ingredient branding into their business mindset.
How can your B2B business adopt a B2C mindset?
Build a "brand" mindset into your commercialization early.
It is easier for your customers to remember your brand than to remember your innovation.
Test your potential innovation downstream prior to fully resourcing.
Don't talk about what your innovation is.
Instead, focus on what it does and how that benefits both your customers and your downstream market.
Don't let your innovation get stale.
Be willing to cannibalize yourself. Better you than your competitors! Remember the relationship between the product and the brand.
Test your business model often, especially if you sell through distribution or have vertical competition.
At Breakthrough, we have the right tools to help you manage your innovation and potential branding challenges.
Concept testing defines and describes the innovation and sets the stage for Rapid Value Assessment (RVA).
Rapid Value Assessment (RVA) further defines the innovation and sets the stage for the Breakthrough Toolkit™.
The Breakthrough Toolkit™ positions and price for the innovation, as well as base brand name and the 4 Ps of marketing.
