It is a common knowledge that many technology companies have exceptional and innovative solutions to offer to their customers. However, by putting too much emphasis on the product, companies forget to show the personal side of the brand and what kind of people are standing behind it. That is why in this article we would like to review the importance of brand building for tech companies.

Why is brand identity important?

B2B solutions of FINTECH and ICT companies usually show the technology side of business while brand identity indicates the personal perspective and facilitates relationship building. Remember that it is your brand that contributes to real world interactions and community building rather than the product.

In the technology industry brand equity is especially important. It happens due to the fact that the leaders in the market can change pretty fast, which leads to a lower conversion rate. A strong brand helps to strengthen company’s position in the market and to contribute to customer retention.

What should companies start with?

To facilitate brand building, you firstly need to define what you want your target audience to think about you. What kind of brand associations would you like consumers to have? What are your brand values?

For example, Apple is always associated with innovation and quality.

Defining the values is one of the first and most important steps in brand building. They determine the personality of your brand and help to create emotional connections with the members of your community. Therefore, make sure you have spent enough effort on determining the right values before moving to the next steps.

What are the benefits of strong brand identity?

Sometimes dedicating resources to product promotion brings you quick results in terms of leads and sales; however, it is investment in your brand identity that creates the long-term benefits. Here is what a good brand identity can do for your company:

  • Creates opportunities for future development

Branding allows you to build a community of engaged people who are interested in your product and the expertise you provide through various types of content. That is why it is obvious that brand building leads to long-term success.

  • Enhance customer advocacy

What can be better than having people believing in the potential of your B2B solution and sharing positive opinions about you? According to Gartner, only 20% of customers trust what brands say on the internet, which means that customer advocacy is a great way to engage with other potential customers. People trust people and brand identity helps you to enhance customer advocacy.

  • Increases customer loyalty

Customers become loyal when they trust people behind the brand, which makes them motivated to stay with you and look forward to new products. This concept is especially interesting for subscription-based business models and helps to reduce the churn rate. Many ICT and FINTECH companies provide subscription-based solutions which proves the importance of branding. Brand building helps to maintain interest in your brand and prolong customer journey. Isn’t it what many companies are looking for?

  • Increase brand perceived values

Today in the technology market there are many similar products and services. That is why the best way to win customer attention is to show that you are more than just the product. Brand helps to increase customer value by letting people know what else you can offer besides your solution. For instance, the right branding can help you be considered as an expert in your industry.

What is the role of branding in influencer marketing?

In influencer marketing at Foxy Nerds we focus on the concept of brand authority. As it was already mentioned, a brand not only shows the personal side of business but also facilitates positive word of mouth.

This is why we emphasize the importance of evaluating brand authority and defining the right starting point for the influencer marketing campaign. If you are just starting developing your brand, we recommend to focus on early advocacy. What can be better than other people saying how good you are? :)