The ROI of branding

Much like investing in most strategic or marketing activities, it can be difficult to measure the results prior to purchase. And whilst the results of branding can be elusive at best, we have found consistent benefits that greatly improve the businesses that we work with across many different industries.

I won’t bore you with the details so put simply branding is split into two primary categories:

Strategy – the intangible, non-visual side.
Identity – the personality of the brand, the visual side.

To best understand the return on investment of branding
I’ll address each category individually.

Brand Strategy

→ Branding is meaning. And meaning matters to your audience.

In the wise words of Simon Sinek ‘people don’t buy WHAT you do, they buy WHY you do it.’ Branding is the meaning that people attach to your products and services and has huge implications on purchasing decisions between you and your closest competitors.

Meaning also matters for the people behind the business. Your staff, suppliers and key stakeholders all question the integrity of a business through its brand – how it acts, communicates and looks – so defining why you do what you do will create conviction and confidence in all major and minor business decisions.

→ Clarify the vision for your business and the principles you stand by.

How can you attract loyal customers and employees without telling them where you’re headed? A clear vision for the future that you’re striving to create is honest and humanising and gives your brand a leg up over others.

How you deliver on your vision is measured by values. What key principles do you stand by that give your business the credibility it needs to survive? Brand strategy is a collaborative process that helps you define these crucial tools in a simple and digestible format that will help you run your company.

→ Galvanise decision-making on all levels.

Values not only help with big business decisions. They can be a transformative tool operationally too. By systemising what you believe in (and don’t) you can train new staff, hire the right people and serve customers with measurable consistency.

→ Attract top talent to a culture that people resonate with.

People want to work for companies that get them – that understand the complexities of life and create environments that nurture and support them to be successful and ambitious.

Brand strategy turns your business into a magnet for like-minded and talented employees that resonate with your beliefs and repels those who aren’t aligned with your values quickly and concisely.

→ Create brand champions who emulate your values and amplify your business.

In the age of the influencer, getting your products and services in front of the masses requires social media brand advocates. A compelling brand offering will easily turn an influencer into a brand champion capable of connecting your business to thousands, if not millions of followers who are highly likely to buy into your brand.

Brand Identity

→ Become more memorable by creating a lasting impression.

If you show up better than your competitors, you’ll get more business. Fact. It may sound cliché but that’s because it’s true. If you ONLY invest in branding to stand out in your marketplace you’ll still see huge results.

The braver your brand identity is, the more chance it has of sticking in people’s minds. Go big or go home – the impact of cutting through the noise cannot be underestimated.

→ Charge a premium for your products or services.

Better-presented brands are perceived as higher value. Millward Brown’s findings on consumer behaviour uncover that strong brands can generate three times the quantity of sales over weak brands. So in essence, the better your brand visually represents itself the more people will pay for it.

It’s the difference between a hotel where the staff wear suits and ties and T-shirts and jeans. They’re both places to spend the night, but one charges a small fortune and one doesn’t.

→ Make your marketing efforts more efficient and more effective.

In short, well-designed branding makes marketing easier and lowers your cost per acquisition. Everything from logo placement, messaging and unmistakable photography can make a world of difference when promoting your business. A consistent and high-quality brand identity is the glue that holds it all together.

→ If it’s done right, your brand can start conversations of its own.

If you’re really lucky (or know a friendly team of brand experts) your brand can get people talking about you. Not because of your amazing products and services that enhance their lives but because of your lovely new brand that seriously impressed them one sunny day.

Written by Tom Woollam
Creative Director & Founder