3 minutes

Understanding How Your Brand Is Performing Is the Key to Business Growth

March 30, 2022

In early March, ChiefOutsiders published the results of its 2022 CMO Survey. One of the interesting data points is that, as a result of the pandemic, marketers are being called to lead the charge in accelerating business growth. In 2022, the C-suite is asking marketers to set the growth agenda, fill the sales pipeline, and build the organization to achieve growth goals. While this has always been a part of marketing’s role, that role has grown significantly. This is as true of B2G marketing as it is of B2B.

 

The Importance of Understanding Where Your B2G Brand Stands

As experts in the buyer’s journey, marketers know that only a small percent of buyers are actively seeking your product or service at a given time. When they are, sharing the benefits of what you sell is effective. But how do you reach those who will buy eventually, but aren’t ready and therefore not interested in the benefits you offer? By creating a memorable, respected, and trusted brand.

A strong brand works hard for your company. 

  • It makes demand-generation activities more effective.
  • It lowers the cost of sales because prospects know and trust you.
  • It lets your company command premium prices.

As the GovExec Insights & Research Group prepares to share the results of the 2022 Leading Brands Study this spring, this data and the need for building a strong brand is particularly interesting. In order for CMOs to meet C-Suite expectations, they must understand how the government market perceives their brand. 

The Leading Brands study provides a high-level glimpse of the top contractors in the government market, leveraging the knowledge within the specific companies and direct contacts with buyers and federal employees… all of which can help any company selling to the government position their brand.

The data about the federal marketplace and specific agencies provides a view into strategic plans and the direction of buying, as well as offering insights into habits and behaviors of the market in general. It is market intelligence that can help guide every marketing decision for the next year.

Ten Benefits to Doing Custom Brand Research
General information about your audience may not be enough though. Your product or service may be in a niche-category or very specific, your target audience unique, or you have some thoughts and insights that you believe can set you apart from your competitors. Or perhaps you are entering new markets, addressing a changing competitive landscape, or preparing for significant advertising spends. 

In any of these scenarios, drilling deeper into how the government perceives your brand can make the difference between growth or stagnation.

Custom brand research answers the question of whether customers and prospects know what you do or what you sell, how customers perceive your brand and how they compare you to the competition. Imagine what you could do with that insight.
 
Market Connections has conducted customer brand research for more than 25 years, and every study reveals something the client didn’t expect to find—whether it’s learning the government audience doesn’t know they provide a core service or learning that they far outpace the competition in a specific niche. 

Armed with this knowledge, marketers are better able to set strategic goals based on what the market is telling them. That knowledge can be worth millions of dollars in sales.

The 10 primary benefits of custom brand research are learning:

  • Exactly who the buyers are  and what their priorities are
  • How your company is perceived
  • What your company’s strengths and weaknesses in the market are
  • How your competitors are perceived
  • Where you are winning and where you are losing market share
  • What gaps you have in the business and in your growth strategy
  • The most effective go-to-market strategy based on your brand’s perceived value
  • Which opportunities you are missing
  • How you can beat out your competitors to win prospects and clients
  • How you can accelerate your sales pipeline

Market Connections brand research measures a set of attributes that inform these ten benefits.

  • Trustworthiness
  • Expertise
  • Experience
  • Innovation
  • Customer service
  • Employee care
  • Value 
  • Customized products

When you understand the gaps in market understanding and acceptance of your brand, you can better meet those C-suite and customer expectations. As we head into Q2 of 2022, now is the time to seize the day… and the opportunity.

Learn more
The first step on the journey to owning your market is to visit the 2022 Leading Brands page where we’ll share the overview results of the 2022 Leading Brands Study and information on purchasing your custom Leading Brands report. 

Register to be first to have access to the on-demand video reveal, available later this spring.

To learn more about custom brand research, contact us at info@marketconnectionsinc.com.

 

Written by Susan Rose, Senior Director Insights and Content at GBC

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