Building a premium brand doesn’t require a limitless marketing budget. In fact, some of the world’s most respected B2B brands have built their reputations through strategic, cost-effective marketing and PR, rather than block busting spend.
What do I mean by quality brand? I’m referring to brands that position themselves as delivering a high quality product or service, which is often reflected in a premium price. These brands tend to share several traits: trust, credibility, transparency, deep industry expertise and great customer service – albeit not always at the same time.
The challenge for many premium B2B brands is that while their price points may be high, often their marketing spend is not. So how do you build or maintain a reputation for high quality in a low cost way? Here’s a few things that you could spent a limited budget on.
1. Craft a compelling brand story
We talk a lot about story telling and here is where premium brands excel. They succeed because they communicate why they exist, not just what they sell. A compelling brand story builds trust, credibility, and emotional connection. And it can help communicate your purpose too.
While I know that we’re discussing B2B here, one of the best examples of this is consumer brand Patagonia. Its brand story and messaging isn’t just about outdoor gear; it’s about sustainability, activism, and responsible consumerism. Ask yourself what the brand stands for, look at your values, connect your purpose, vision and mission to create a story that resonates.
Think about creating and sharing behind-the-scenes content about how your product is made, the craftsmanship involved and customer testimonials. It’s a great way to build trust and engagement. People are curious about what and how products are made, and others experience of it.
Use you owned media channels, like your website, social channels and email newsletters, as a cost-effective way to tell your story. But make sure that your messaging is consistent across all platforms and take time to tell the brand story – let it stand out – amongst the promotional product announcements.
2. Earned media has a place
When budgets are tight, PR is your best friend. I know that I would say that! But a well-placed article in a respected industry publication or a mention in a trusted review platform can help elevate your brand’s status and build credibility.
Think about building relationships with industry influencers including journalists, analysts, heads of associations, or even an influential customer or prospect. Don’t shy away from background briefings that may not initially result in coverage but can give you space to position your premium brand effectively. These relationships are built on trust and can deliver value.
3. Create thought leadership content
Not every brand can be, nor should be a thought leader. Controversial I know given the number of times we see it in a brief from a prospective client. But for premium brands it helps build credibility and trust. Being seen as an authority in your industry, where you educate rather than just sell, is a great (and cost effective) way to build credibility. But it requires original thought and unique insights that are built from the ground up. You can use original data to help create thought leadership but it must come from an angle not already explored.
Use reports, publish blog posts, whitepapers, or webinars that showcase your knowledge and more importantly your perspective. LinkedIn is a great tool for thought leadership.
4. Collabs aren’t the reserve of B2C
Brand association or partnership is a great way to build a premium brand. Working collaboratively with another premium brand gives you better reach through their network, while supporting credibility and trust. Take Miele Professional (full disclosure: they’re a much loved client of Skout) for example. For its professional dishwasher range that is used in some of the top commercial kitchens around the world, Miele teamed up with Riedel – the premium glass company. Miele can show how it protects Riedel’s glassware and Riedel recommends Miele to keep its product safe.
Extend your collaboration beyond partner brands and think about how you can partner with valued customers better. User generated content that shows products in action or testimonials that demonstrate satisfaction are powerful and, often free content that can be effectively utilised across your own channels. Create branded hashtags that can be shared and start to create a community.
The best thing about marketing on a budget is that it drives creativity to think and market differently. None of these ideas will break the bank, and they use your owned and earned channels effectively. Remember that consistency and authenticity are key to building trust and credibility with your audience and focus your efforts there.
