How can a great brand make you more money?
Return on investment,
on your branding project
that’s what you want right?
Well, the good news is a brand with a purpose can make you loads more money!
Because it can attract people.
People that will pay what you want, for what you offer (sounds simple doesn’t it!?)
But how do you calculate it?
It’s not quite as easy as it is with marketing campaigns. You can put out an ad and track all kinds of analytics including the amount generated, but what role does the brand alone play?
Why is a brand
important to a business?
Your brand is the thing that holds people’s perception of your business. It can attract or repel in an instant… it’s also ‘growable,’ as your reputation becomes known, so does your brand!
Branding is never a one-time exercise – your brand can expand with each and every interaction!
The bits that stay the same (for the most part) are the visuals, or in marketing speak ‘the brand assets,’ – they should stay strong, consistent and memorable!
These are the things that your customers will remember – and they will inevitably pin their perceptions onto the bits they can see!
A great brand will be the backbone of your marketing, it will inform your messaging, your visuals and everything else. Those money-making client attraction tasks, that are so much easier to track and analyse!
Why is a brand
important to consumers?
A brand that resonates with an audience, becomes and easy choice when it comes to buying. It helps them to predict the result they get from working with/buying from you. You can become a trustworthy, reliable source for exactly what they need.
Your brand should show the people who matter (your ideal audience) exactly who you are, and not just at surface level, Great brands dig a little deeper.
Think of it like a human, here are a few human traits a brand should have to connect with its people:
- a name
- a mission/purpose
- a personality
- a tone of voice
- a backstory or an exciting life goal
- morals and values
- an audience it relates to (just like friends)
- a style
- consistency
These human traits are what turns a business into something people can truly connect with. These traits create a ‘relatability’ that your customers can hold on to.
And if you delight your customers with your offering, and the experience, then your brand becomes something people rave about – telling friends and family. More people = more sales, a good brand reputation also allows you to charge higher prices, if you wish to do so.
How much more money will a good brand bring?
Where it might be hard to calculate the exact ROI from brand creation as an activity, it will certainly be something that builds in value over time.
Every good piece of marketing or great experience builds your brand reputation.
Think of your brand like a huge bag – one that contains everything you are, everything you do and everything you stand for as a business. Each thing fills it up a little more, every new sale, every marketing message, every review, every customer perception of your business, what you offer and the journey to getting the desired result.
Be careful though because negatives can get into the bag too and inevitably that can have a big effect. In a negative way.
The visual assets – such as logo and colours are the memorable bits – they are the brand face, and they hold everyone’s perceptions on their shoulders, good and bad!
The value of a great brand
Although it will vary from brand to brand, some can have an immense value!! Especially when the brand perception has been built up over time and successes. When that happens THEN you can whack a price tag on it!
Here’s a few brands with the biggest values in 2022:
Apple $355.1B
Amazon $350.3B
Google $263.4B
Microsoft $184.2B
Facebook $101.2B
Samsung $107.3B
Okay, so I can’t provide you with any ways to calculate the exact value of building an amazing brand but I do hope that this article has opened your eyes to the value a brand can be… and although its initial ROI is hard to measure, it can absolutely bring an immense value to your business.
Want to build a brand that brings incredible value?
Let’s chat – Leave me a message below and we can arrange a free 1-2-1 over zoom to discuss how I can help you reach your goals.
Thanks for reading,
Kate
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