Category creation for B2B brands
This article was based on the interview with Kristin Russell, CMO at symplr by Greg Kihlström, MarTech consultant for the B2B Agility with Greg Kihlström podcast. Listen to the original episode here:
Creating a new category is a strategic move that can have a significant impact on a company’s success in the marketplace.
The podcast interview with Kristin Russell highlights the story of symplr, a healthcare technology company, and their journey in creating a new category within the healthcare operations space. By identifying a gap in the market and realizing that their technology did not fit into existing categories, Simpler took the initiative to define and establish a new category that aligned with their offerings and addressed the needs of their target customers.
One of the key points made in the podcast is the importance of having analysts, job titles, and competition recognize and use the new category name. This validation from industry experts, internal stakeholders, and competitors helps solidify the new category and positions the company as a leader in that space. By creating a new category, companies can differentiate themselves from competitors, attract the right customers, and drive growth and profitability.
In the B2B marketing world, creating a new category can be a strategic advantage that sets a company apart from the competition. It allows companies to carve out a unique position in the market, establish thought leadership, and capture the attention of customers looking for innovative solutions. By defining a new category, companies can shape the conversation, influence industry trends, and ultimately drive demand for their products and services.
However, it is important to note that creating a new category may not always be the right answer for every company. It requires a deep understanding of the market, customer needs, and competitive landscape to determine if there is a genuine opportunity to establish a new category. Companies should carefully evaluate the risks and benefits of creating a new category, considering factors such as market readiness, resource allocation, and potential impact on brand reputation.
Creating a new category is a strategic decision that can have a significant impact on a company’s success in the marketplace. By identifying opportunities for innovation, differentiation, and market disruption, companies can position themselves as industry leaders and drive growth and profitability. Companies that embrace creativity, branding, and strategic thinking can leverage the power of category creation to build a strong B2B brand that resonates with customers and drives long-term success.
