All too often at Sustena we see B2B brands mismanage the brand-building process. And while these displays of mismanagement usually occur at disparate ends of the spectrum, they have similar negative effects on brand health & development. At one end of this spectrum, brands under-leverage and undervalue the power of branding as it relates to storytelling and communicating their point of differentiation. The other end of this spectrum? Companies find themselves overly complacent with a brand that misrepresents their mission and product offerings, making it difficult for consumers to connect to the brand.
To simplify this range of mismanagement, you needn’t look any further than the value of naming for B2B brands. Brands that under-leverage brand building see the naming process as a nuisance, a distraction from the mission at hand: “It doesn’t matter what we call it, it matters what we deliver.” Conversely, overly complacent brands view the brand’s name as a point of differentiation in and of itself, assigning the name undue value. While this is not patently false (a name can be a company’s most valuable asset), the internal affinity and understanding for the name/brand must be easily perceived by the external consumer. If the consumer cannot connect to the name, the brand’s visibility is limited, consumers are confused, and growth is hindered.
To take this a step further, brand-building is a crucial part of B2B development & growth. To exist at either end of the above-mentioned spectrum, under-leveraging or overvaluing the naming process, is to stifle a brand from fully navigating the subjective and objective considerations which help develop a name that accurately supports the brand’s product strategy and effectively communicates a sense of understanding to consumers.
That is a lot to consider surrounding one “simple” brand choice. But rather than allowing name development to be something that is overwhelming and ignored, brands must remember that proper diligence and a pointed focus in the naming process allows for a name to emerge that is not only understood by consumers but also communicates brand value and encourages customer loyalty.
At Sustena we’ve helped dozens of B2B portfolio companies navigate this naming process. From naming new ventures to renaming legacy companies, we’ve seen it all - our own Sustena brand included! Have questions about how to maneuver this naming process for one of your portfolio companies? Reach out to us. We’ve navigated these waters many times before.