Customer Centricity is Proving Profitable for B2B Brands

Share this content:
Connecting with customers boosts the bottom line
Connecting with customers boosts the bottom line
Customer-centricity seems to be dominating much of today's B2C conversation. There's no doubt consumers increasingly prefer brands that understand them—brands they can engage with.  And B2C brands that provide that for them often see growth in revenue. 

Now a recent study from strategic branding firm Siegel+Gale shows that B2B brands with this same customer-centric approach are also seeing a boost in the bottom line.

The study surveyed nearly 2,000 consumers and business decision makers across Asia, Europe, the Middle East, and North America and then rated 64 B2B brands for their connections with and focus on customers. The top 10 most connected B2B brands saw 31% more revenue growth from 2010 to 2013 than brands without a heavy focus on customers.  That top ten list includes product giant 3M, Dell, FedEx, GE, Google, Intel, Lenovo, and Microsoft. B2B brands were scored on how familiar consumers were with them and how connected and engaged consumers feel. 

In addition, stock values for the top ten brands grew 27% more than the stock value of B2B brands listed as not having a customer-centric approach.

What's more, customer-centric B2B brands had an 8% higher ratio of intangible assets (e.g. intellectual property including patents, trademarks, copyrights and business methodologies) to total assets in 2012. 

The study listed eight questions to determine how relevant a B2B brand is to its customers. Here are a few of those questions:

• Do you engage consumers to generate demand with your customers?

• Are the experiences you provide—from communications to products and services—consistent and simple?

• Do you use design to clarify and differentiate your offerings?

• Do your family and friends understand what your company does and how it makes a difference?



close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here