Have you asked yourself why is this something that we want to invest in?
I’m going to give you 3 tips as to why branding generates ROI into your business.
First things first, branding is what sets your business apart from others who are offering the same service. Now, why is this important? Because there are so many different businesses out there, especially ones that offer the same thing that you do, so how do we figure out and determine how you are going to set yourself apart? This is important to answer, because this is essentially what makes people want to choose you over someone else who is either providing the same product or the same service, as you do. This is one of the main things that branding does, essentially making your busienss stand out from other people who are doing the same thing as you are. A great example of this is Coke and Pepsi, at the end of the day, they’re the same product, a brown sparkling soda. Even though I'm a little biased, Coke is a lot better and I'm from Atlanta which is coke country, but at the end of the day, they are essentially the same product. However, what makes them different or why I would choose Coke over Pepsi is, because of the way that they market themselves and how they are sharing their perspective, and values as a brand and business versus Pepsi. This is my personal opinion, but this is the same process that every consumer is going to do. They are going to see the different businesses, products or services that are out there, and they're going to make their decision based on ultimately the experience that they have or how they're able to create a connection with a business. This is why I always like to hone in on the fact that your brand is really what sets you apart, such as your values to your mission to the whole experience that your customer has with your product or your services, even before they even become a paying customer. How is it that they are interacting with your product? What makes it different than the other person who is either offering the same product or service that you are? What is going to make it so different that they're going to choose you versus that other person? At the end of the day, there are the same products and services out there that none of us are that much of a genius yet, that we have invented something new, so this is where we rely on our brand and our branding to set ourselves apart from that.
Think about Nike and how they've created a brand and a logo that is so unique you know that when you see the check, you know that is Nike for the most part. Then there’s McDonalds, that when we see the golden arches we know that is them and their product. So, again, it's how do we separate ourselves from other people who are either providing the same service or product that we have at the end of the day.
Second tip is that branding creates trust through consistency. This is where your branding comes in and you are showing up consistently and cohesively. Why is this important? Because, when we are showing up consistently and cohesively in our business, that is going to create that subconscious feeling of trust with our audience, which is super important. This is super important especially now a days, when we are behind a screen you need to determine how to create that consistency and build that like,know, and trust through those elements. Therefore, with this in mind, that is where we are showing up consistently in our feeds, we're showing up consistently in our posts, and ultimately we want to make sure that our brand voice is consistent the whole time whether we are posting on Instagram, Facebook, we're sending out an email or it's the copy on our website. We want to make sure that these elements are always consistent because consistency equals trust. Ask yourself the following questions: Are we using the same filter? Are we using the same type of imagery? When the audience can trust in you, you are creating those connections with your ideal clients because we’ve figured out who our client avatar is. We’ve determined what they like, what they don't like, we know how to speak to them to create those connections. That way they:
Create that connection
They convert into a paying customer because of the connection that we've established, as well as standing out from the crowd.
The third tip is that branding builds and maintains loyalty. It's a lot easier to maintain a customer that's already been a paying customer. They've already been part of the journey with us as a company and as a brand or a business, so it's easier to maintain a customer who's already been a customer versus acquiring a new one because we've been able to create that relationship and community. When we are have a brand and we're showing up consistently and cohesively, we're able to continue to take our current customers on that customer journey, where they're going to possibly continue to buy our products and services, especially if we're coming out with something new, or if they have a product and it runs out, then they know that they love the product it was the same great quality as the service that they received and was different than anything else that they've ever experienced so that makes them want to come back and purchase more. When we’ve been able to create this experience for our customers, they become evangelists, customers that are diehards about our brand, this ultimately helps in the process of continuing to generate revenue into our business because this is a great way for them to promote your products or services for free because they love it so much. If they've loved the experience and the product and that everything about your brand is so different than another brand that offers the same product or services, then that is going to make them want to share with everybody. By then freely promoting your product or service, you receive free promotion which then gets in front of their audience or friends, family, and then that makes them potentially get into your realm of things, whether it's on social media, website or if you actually have a store. Think about it this way, you have Adidas and Nike, which pretty much sell the same thing at the end of the day, athletic shoes, but there are diehard Nike fans that whenever a new shoe comes out, they are in line waiting to be able to purchase the shoe because they love the product and full experience with the brand.
When you build a solid brand foundation, you know who you're talking to, and know who your ideal client is and what they like what they don't like and you're showing up knowing all of that information, consistently and cohesively, that's where the sales start to come in because, we're creating those connections. Since we know exactly what to put out there and exactly what to say to make them want to purchase, you create the perfect recipe to establish a brand foundation to generate community, grow and generate revenue.
These are three reasons as to why branding equals dollars into your business. If you have any other questions about this please feel free to comment below.