This blog post is written by Kathy Floam-Greenspan and appears on the Forbes Agency Council. You can read the full post here.
A company’s brand is its most valuable and important asset. Regardless of sector, product offering or customer base, this intangible resource separates successful businesses from the competition. In the B2B sector, which requires prolonged sales cycles for enterprises to become recurring customers, long-standing brand value is especially critical.
It may not be reflected on its balance sheet, but a company’s brand brings immense value to a merger or acquisition (M&A). As a recent Deloitte report succinctly explains, “The value of a strong brand cannot be underestimated in today’s fast-moving commercial environments, where customer loyalty is notoriously difficult to acquire and sustain.”
Consequently, B2B brand consolidation is a critical—if often overlooked—component of an effective merger or acquisition.
With M&As accelerating in today’s disruptive, high-stakes B2B landscape, companies must maximize value and opportunity from the process, requiring a strategic brand consolidation plan that produces needed results.
Here are three ways companies can implement a strategic brand consolidation plan from day one: