I often hear people ask, “How does branding make me money? What ROI can I get from branding my business?”
It’s a valid question often responded to with vague answers that leave a business owner more frustrated. So let’s clear the air, shall we? To know how branding can make your company money, we need to understand consumer buying behavior. We all agree that the classic formula for winning business is Know, Like, Trust.
What does that mean?
- To be known means to be memorable
- To be liked means to be personable
- To be trusted means to be helpful
How does this relate to making money from your brand?
Well, it’s simple. A strong brand helps you create effective marketing, which equals ROI or money. Let me explain. Let’s go back to the Know, Like, Trust formula.
To be known means you need to be memorable.
A business becomes memorable by having a unique business name and slogan that is easy to read, write, and say. They have a unique logo design that cannot be missed in a crowd of competitors. A business becomes memorable with a strong story and unique selling proposition. They also engage in long-term consistent use of specific colors, images, and words in their marketing.
You cannot be memorable without proper branding.
To be liked means to be personable.
A company achieves being personable by first and foremost, understanding its target demographic inside and out. What are their pains, language, goals, ambitions, etc. Secondly, applying a persona to their company. How does it sound, behave, and look? Lastly, a company becomes personable by having a mission, vision, values, and purpose. But taking it one step forward by sharing it with the world and acting on the words they write with authentic intent.
You cannot be personable without proper branding.
To be trusted means to be helpful.
A business is helpful by giving value. That value comes from their customer experience, what they share, their reviews, and their results.
You cannot be helpful without proper branding.
To create long-term success in the Know, Like, Trust formula you need proper branding. When you have a proper brand you will create effective marketing which will make you money. Branding has many moving parts. Branding encompasses the whole experience of your company. It is everything you do and don’t do.
Information provided by Holeshot Brandworks
