In a previous post, I summarized the main conclusions from the research conducted by Johan Anselmsson and Niklas Bondesson at Lund University on brand parameters that genuinely drive sales.
Across the 30+ joint projects we’ve carried out, the question often arises: what are the similarities and differences between industries, and are there general conclusions to draw for companies in B2B vs. B2C?
To answer this, Johan and Niklas compiled a meta-study as part of their research, focusing on sales-driving factors in business-to-business (B2B) and business-to-consumer (B2C). In this post, we present the conclusions for B2B.
The meta-study is based on surveys answered by thousands of B2B buyers in nearly 50 countries, covering more than 60 corporate brands. These brands span the full spectrum, from product companies to service providers, with the vast majority somewhere in between offering a mix of products and services.
Importantly, the analysis method does not focus on what customers say is important when choosing a supplier – as traditional market research often does. Instead, it relies on statistical analysis of the responses, which gives a true picture of the brand associations that actually make customers want to buy and/or pay more. The meta-study analyzed 19 associations, all proven relevant in B2B research.
The five most revenue-driving brand associations in B2B:
- Value creation
- Customer focus
- Prestige and status
- Reliability
- Delivery capability
These are the associations that most strongly drive both purchase intent (volume premium) and willingness to pay more (price premium). Interestingly, brand associations like “product quality” (ranked 12th), “innovation” (10th), and “service” (6th) are less influential in the choice of B2B supplier compared to, for example, “prestige and status”. Different associations though influence volume premium and price premium in different ways.
Associations that most influence Volume premium:
- Service
- Reliability
- Customer focus
Associations that most influence Price premium:
- Uniqueness
- Community feeling
- Prestige and status
The associations driving volume premiums appear to be more rational in nature, with some elements of risk-reduction motives. In contrast, those driving price premiums seem to reflect positive motivational factors with clear social dimensions.
These differences are important to consider depending on whether your main challenge is to win/defend market shares or to justify a premium price. Some associations that drive one may even hinder the other. For example, in some industries, “uniqueness” drives price premium but hinders volume premium.
Niklas Bondesson and Johan Anselmsson’s meta-study shows clear, general patterns for what makes B2B customers want to buy and pay more. However, it is crucial to understand that these are just general trends. To truly build, strengthen, or defend a strong brand, you must identify the specific associations that drive sales in your industry and your markets.
Relying solely on general rules of thumb can be risky—what drives sales in one category may be completely irrelevant in another.
The findings are packaged into the Sfinx Brand Potential Analysis, which enables you to precisely connect how customers perceive your brand (image) with what actually drives sales and pricing power (strength) – ultimately contributing to your company’s profitability (value).
Do you want to know more about how to win new customers, just reach out to ulf@sfinxconsulting.se
