Welcome to the latest episode of At the Forefront: Fintech Conversations!
To learn more and listen to our previous episodes, click here.
In this episode, Forefront Managing Partner Eric Soderberg sits down with AVP and Head of Digital Amanda Perrucci to discuss Forefront’s latest thought leadership article: “The Silent Business Killer: Your Weak Brand.”
Eric and Amanda begin by discussing the inspiration behind the piece. Eric explains that while people in the B2B fintech space often let B2C brands influence their buying decisions in everyday life, many of these professionals don’t think it’s important to apply the same branding principles to the fintech sector. He wanted to unpack once and for all how not prioritizing your brand can be determinantal to business performance.
Eric and Amanda go on to discuss three key ways a weak brand can manifest: poor messaging, inconsistent messaging and brand aesthetic that is not aligned with the key messages. All three of these “symptoms” can be traced back to a shaky brand foundation. Eric describes how going to market with a weak brand is comparable to building a house with low-quality materials. Everything works on a surface level to start, but it’s only a matter of time before doorknobs loosen, the ceiling starts to leak, the doors don’t close properly and you begin to feel a draft. Similarly, firms that fail to lay a solid brand foundation and then constantly reinforce it will struggle to remain relevant when the buzz of their launch wears off and competitors enter the space.
Next, Eric provides viewers with two simple exercises to determine the strength of their brand. First, firms can ask their employees across departments – from sales to HR to the C-suite – to describe what their company does and what its mission is. If responses vary widely from person to person, there’s a good chance the brand is not as strong as it could be. Second, firms can scan all of their platforms and sales materials – website, pitch deck, social channels, recent press releases – to make sure they all convey the same top-level corporate messages. If they don’t, there is definitely some element of messaging inconsistency at play.
Lastly, when seeking outside help to strengthen your brand, Eric stresses the importance of working with a firm that has expert knowledge of your particular industry. That requires a team of professionals with a history of building successful brands within your space – in our case, capital markets and B2B fintech – in order to establish the right key messages and write copy that will resonate.
For more on this topic, check out our full-length article HERE.
Is your brand killing your business? Book 15 minutes with Forefront Managing Partner Eric Soderberg HERE to find out.
See below for a breakdown of what was discussed. Happy listening!
0:35 – Why did you decide to write an article around the “Silent Business Killer” theme?
1:30 – How have you seen weak brands hurt businesses in our space? What are the symptoms?
2:20 – What constitutes a weak brand?
5:35 – Some firms still achieve highly successful go-to-market phases without well-established brands in place. What do you say to those companies?
7:25 – What are some signs of a weak brand that might be hard to spot for someone who is not a marketing expert?
9:30 – If our viewers follow the steps you suggested and discover that their brand foundation is weak, what should they do next?