Binet and Field via the LinkedIn B2B Institute, suggest a 60% brand building and 40% sales activation budget allocation for B2C and a 46% brand building and 54% sales activation budget allocation for B2B.
Donald Miller of StoryBrand: “Marketing is more important than branding … Branding is when you make somebody feel a certain way about your brand. It is important. Branding though is a luxury. I think you need to make about $500 million before you even start thinking a whole lot about branding…” watch his short video here
Chris Do of The Futur, had an in-depth discussion about Donald’s view with guest Fabian Geyrhalter of Finien.
My response on Donald’s views is:
2. There are two routes to building a brand, the rational route and the emotional route (Keller) so branding is more than creating feelings.
3. Branding is essential and not a luxury.
4. The absolute best time to do branding is when your business does $0 – before launching.
The first step should be brand strategic identity (brand strategy), then brand visual identity, then marketing, sales and all of this = brand management: the management of an organisation as a brand and/or an organisation’s offerings as brands to create brand equity through brand recognition and recall etc.
Whether you’re an established business or a startup, clarify what authentically differentiates your brand, focus your team as brand ambassadors and align all your marketing. My structured 3-step Brand for Success process shows you how.
When changing the brand’s positioning you are rebranding, otherwise, you are probably redesigning.
Let’s Brand for Success!
Pieter Steenkamp, PhD
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