When we think of branding, we consider this a generic for all companies. However there are at least four types of awareness:
- The solution market awareness
- The brand awareness
- The market leader branding
- The vendor specific awareness
If people aren’t aware of a certain solution type then they will not be searching for this type of solutions. Even if they find your solution to their problem, due to the unknown it is likely they will not proceed for further investigation or inquiring for further information as this type of solution is just too new or too disruptive for them. You will need very compelling arguments and benefits in order to get them as lead.
Hence having a widely recognized market leader or two market leaders is a big plus for even the medium or smaller players in this market as they do create the awareness with the larger public. The audience will be listening to market leaders as they are recognized.
As a smaller player: just hope you can lift on the awareness generated by the market leaders by offering the alternative to the large players.
If there are no widely recognized leaders in your niche market, you have an uphill battle, a problem difficult to solve as people don’t know this type of solutions and have no well-know reference brand they take for granted.
This is the typical case as your brand needs to stand out in a crowded market of well-known solution type.
Brand awareness is utmost important in order to differentiate from the rest of the crowd.
Whatever can set your brand apart, stand out and create awareness will have a positive effect on your lead generation and eventually on your sales.
Your challenge is to differentiate fro the market leaders and stand out from the rest of the competitors.
Market leader branding
being a market leader can be beneficial as people do think instantly of your brand when looking or selecting a solution, but still you need to have a positive brand image.
One of the problems of being a market leader is that smaller customers might think they are too small to be considered or to really taken care of as they are just small fish. Your marketing branding has to make sure you also care and respect the smaller customers.
Additionally market leaders have more overhead, longer decision lines, slower moving, more administration, less personal and perhaps even less innovative. All due to the size and the levels of management involved in a bigger business, which leads to less focus on clients or being less flexible. The brand image of a dynamic innovative company needs to be displayed.
Being a market leader is a challenge too, as all smaller companies will search for flaws and gaps in the offering in order to fill and to differentiate themselves.
The vendor specific awareness
If you are a reseller or even a distributor, the awareness of the supplier brand is utmost important and beneficial for your company. However your vendor / reseller name needs to get connected with the big brand. People need to think about your company when they think of the big brand for local supplies.
Your challenge is to get your reseller or distributor name connected with the big brand.
What kind of branding applies to your company ?