Marketing has the power to give your technology wings
For me, being able to witness the ingenuity and engineering prowess of innovative tech companies up close will never get old. Even after working side-by-side with big blue-chips and small start-ups in the world of B2B marketing for the last 15 years, the stories behind the solutions still feel utterly compelling. But sadly, some stories are left untold and growth potential goes untapped.
While the investment in the process of research and development of new technologies, products and services is incredibly robust – market adoption and sales growth are often sluggish at best. A peculiar scenario when you consider just how impressive and differentiated the products often are.
What’s stopping industry-leading solutions from taking off?
One significant factor that we have seen is that the positioning, branding and marketing approach of these significant product development investments varies hugely. Often resulting in an under investment of time, energy and money. Why is this?
In short: marketing in these organisations is generally under represented. With an engineering focus firmly established at the heart of the business, technology is seen as the key – or even only –value driver. Any marketing team is usually small, accounting for just two or three people out of a payroll of thousands of employees. Making it difficult to explore the value creation potential branding and marketing could play in bringing these solutions to market.
The potential for growth is sky-high – just look at consumer brands
Let’s consider consumer brands for a second. Many brands are launching into crowded markets with little technical innovation or product differentiation to talk about. Yet they leverage branding and marketing to generate huge growth.
Take RedBull. Caffeinated, carbonated, sugary water is nothing new to the food and beverage market. Yet they have convinced millions of people worldwide that it ‘Gives them wings’. Using clever behavioural economics, big activation ideas and a clear, confident, brand proposition to drive sales of 7.9 billion cans in 2020 alone.
Branding and marketing have played a key role in every step of the product’s development. Leading to innovation that runs against the conventional, logical, approach often seen in the world of B2B. To quote behavioural economics guru, Rory Sutherland, from his book Alchemy, the art lies not in creating the perfect product, but in convincing people of a perceived reality:
“Imagine the pitch: so...it’s a new soft drink that tastes considerably worse than Coke and comes in a much smaller can. Oh...yeah...and we’re planning to charge more than twice as much for it.”
But it worked. By placing their run-of-the-mill sugary drink in a smaller, thinner, can that appeared concentrated, giving it a slightly medicinal taste and charging a premium for the privilege – they created a product with the perceived reality that it did in fact have performance enhancing properties. An idea reinforced by their bold vision to become the face of extreme human achievements – where even freefalling from space wasn’t off the table.
Bringing a consumer marketing mindset to B2B
If RedBull’s branding and marketing efforts can create value for a technically worthless product, what could it achieve for great products packed with innovation and tangible value?
At Emberson Marketing, we’ve seen first-hand how the right marketing approach can give even the most technically complex and niche products the wings to grow. Here are just some of the key ways branding and marketing can create value for your business and help you grow faster.
So how do you create this added value for your business or new technology? Well, just like your product development your brand and marketing development requires investment in a methodical approach and a bit of creative inspiration.
Ian Goodall, MD at Emberson Marketing
So, if you’re frustrated with the speed of growth or want to find out more about giving your technology wings, talk to us about our unique B2B brand growth process, using proven frameworks and models. Simply get in touch or drop by our website to find out more.