5 reasons why you should be investing in your brand
You look tired!
Doing two jobs?
Running the business managing your companies branding and marketing?
No wonder you’re not sleeping well.
Yeh! We get it working on your companies brand is always the last thing on your list, after all you have a business to run.
A company’s brand is its most valuable asset. Your brand is how your customers, employees and anyone you come into contact with.
So why is something so important, that can bring in new customers, convert them to a sale and nurture them to become a life long repeating customer left as the responsibility of either the busiest people in the company – You the owner, or the person with the least experience, maybe your part time receptionist?
If your business is seeing low customer conversions, incorrect perception or flagging sales, it’s time to look at your brand.
Branding isn’t just another marketing cost, it’s an investment into the future growth of your business.
Investing in your brand may come in many shapes and sizes, from learning more about your customers persona, and their customer journey, to redesigning your logo and website, or training your staff.
When you consider the benefits of a well-positioned brand its hard push these tasks to the side and say you don’t have time for them. Rebranding is one of the best investments a business can make, especially if you originally built your brand on a budget and without much thought for your customers.
Here are 5 reasons why you should be investing in your brand
1.Understand your customers so you can attract better ones.
Investing in Brand research allows you to fully understand and identify you ideal customers.
If you don’t understand your ideal clients, who they are, what they need and what influences them to purchase, how can you communicate to them in a language they will respond to?
2.Feel proud of your brand and lead your business
I see so many people who say, I’m so embarrassed of my logo, or I know my website is really old but I just don’t have the time to update it.
Understanding the cost of letting your brand become old and ineffective is invaluable.
As the owner of your business, you must drive the brand forwards, be the leader and be clear in your direction.
Once you are confident, your workforce and customers will follow.
3.Grows your business value
Investing in your brand not only allows you to change the way your brand is perceived, this can allow you to increase your price point, which as a result brings in more money and grows the value of your company. If the time ever comes to sell, having a strong brand can make all the difference. Much like renovating your home, branding is an investment in the future of your businesses growth and value.
4.More bang for your marketing buck.
Leaving your marketing and brand to the bottom of your to do list, can cost you dearly.
If you don’t invest in your brand but you invest in your marketing, you can be spending money without knowing where to get the best return.
Understanding your brands limits allows you to build campaigns with a relevant message and targeted at your most valuable customer.
How many times have you spent money on marketing to get little to no return for your investment?
If you invest in your brand first the chances of this happening fade away.
5.Position yourself as a leader
When you review your brand it gives you the power to position yourself as a leader, offering services or products your competitors don’t.
Brands that establish a differentiation in the marketplace are able to justify their worth, and command higher prices.