Earlier this week, Interbrand published its annual Best Global Brands report for 2022. The summary:
This year, against a backdrop of increased economic uncertainty, the cumulative value of the world’s 100 Best Global Brands surpasses $3 trillion for the first time—up 16% year on year; proof that strong brands have greater resilience in tough times.
The question is: what can we learn from this in B2B SaaS? Here’s what Interbrand’s findings:
- Today, the world’s most successful companies don’t start with product but with brand.
- They address a range of different customer needs (jobs to be done)— through a portfolio of differentiated products and services.
- They’re focused on building strong and emotionally meaningful customer relationships.
- They balance exceptional experience and unparalleled integrity.
Here’s the thing:
The essence here is creating deeper emotional connections and higher relevance with the right customers. Doing this right does a couple of things:
- It signals to customers where and when they share common values with your brand
- How and where your brand complements and fits into their own meaning systems
Once that’s clear, trust and energy build, and commitment becomes unconditional.
It’s not enough to “be a good SaaS Business” anymore.
The market rewards remarkable saas businesses – which means:
- Sell the idea, not the product
- Understand you can’t please everyone
- Offer something valuable & desirable
- Aim to be different, not just better
- Surprise and hit the right nerve
Question for you to reflect upon:
What’s the proof within your SaaS business that you will have greater resilience in tough times?
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