Differentiation gives your customers a mental hook to remember you by. It helps them decide to buy from you instead of your competition. It is critical to proper strategic positioning.
Brand investment is second nature to our friends in the B2C world. Consumer companies know they live and die with the value of their brands. But most industrial MRO companies continue to ignore the value of a good brand.
When times get tough, when sales don’t meet expectations—what’s the first budget that gets cut? If you’re company is like most, the answer is probably marketing.
Insert Scooby Doo “Huh?!” sound clip here.
I’ll never understand this. What’s the thinking? “Sales are down, so let’s turn off our customer acquisition engine? We’re not making enough money, so let’s ignore the very activity that drives growth?”
Industrial products had some the ugliest packaging known to mankind. There was less than no thought put into naming and design--and we liked it! (Or bought it, anyway.) Now industrial products get the same scrutiny as consumer products. And those who understand how to package and present them like retail products are winning the day.
Industrial meets retail...or IndustRetail...is a fact of life now. So how have you met this trend? What are you doing to embrace the retail-ization of industrial products?