BUILDING AND ENHANCING CUSTOMER RELATIONSHIPS

: The usage of storytelling and industrial brand personas in the B2B food processing equipment industry

Abstract

This research investigates the impact of branding through storytelling and the creation of industrial brand personas in the B2B food processing equipment industry. The primary objective is to understand how these marketing strategies influence customer relationships and brand perception in a highly competitive market. The B2B food processing equipment industry, with an estimated market size of $106.89 billion in 2022, projected to grow to $163.23 billion by 2030, faces intense competition. Thus, companies must differentiate themselves to sustain and expand their market presence, making the exploration of effective branding strategies crucial. The research follows an applied and exploratory approach, combining extensive literature review with qualitative research through interviews with industry professionals. This approach provides a comprehensive understanding of current practices within the industry as well as theoretical marketing insights. The literature review establishes the foundational theories of branding and relationship marketing in the B2B sector. In contrast, the empirical research gathers primary data from industry experts to validate and expand upon the theoretical findings. The literature review underscores the critical importance of branding and relationship marketing in the B2B sector. It highlights storytelling as a powerful tool to create emotional connections with customers and discusses industrial brand personas as a means to humanise brands, making them more relatable and trustworthy. The empirical study involved qualitative research through interviews with twelve professionals, revealing important industry insights. Currently, a mix of traditional and digital marketing strategies is utilised, whereas the industry still remains rather traditional. Furthermore, there is a growing recognition of storytelling’s importance, which enhances brand differentiation and customer engagement but poses challenges such as resource allocation and ensuring consistent narratives across channels. The study also highlights that building trust and long-term relationships is essential in this industry, with factors like price perception, value, and brand reputation significantly influencing relationship quality. In conclusion, this thesis demonstrates that branding through storytelling and the creation of industrial brand personas offer significant advantages in the B2B food processing equipment industry. These marketing strategies help companies differentiate themselves, build stronger customer relationships, and achieve competitive advantages. It is recommended that companies invest strategically in developing their storytelling capabilities and creating authentic brand personas to foster deeper connections with their customers.

Date of Award	2024
Original language	English
Supervisor	Darko Pantelic (Supervisor)