There are a lot of factors that impact your marketing Return on Investment. From your sales revenue to customer engagement, you always have to be looking for opportunities to boost your marketing ROI. One of the most underutilized factors in this regard is brand awareness. Many experts still question whether or not branding has an impact on returns. But we have multiple examples in the current industry that prove branding is a critical contributor to your ROI.
What is Branding ROI?
When someone wants to search for something on the internet, they say they will ‘Google’ it. Google has replaced the term ‘search engine’ at this point. Branding is the act of giving your business a tangible identity to associate with the products or services it offers. It is a continuous process that involves managing and molding the way your audience perceives your business.
A lot of people incorrectly limit the idea of branding to the visuals and aesthetics of a business’ identity. In the modern age of data and content, good branding is what leaves a memorable impression on your prospects. It is what sets you apart from your competition and offers a pattern of familiarity to loyal customers. Once you build a strong brand, you will ultimately be able to attract customers that buy high and often.
An Investment Worth Making
Branding ROI can reduce some immediate improvements but the real benefit is seen in the long run. It is an investment that is going to give your brand a sustainable boost over a curve as opposed to just a flash-in-the-pan marketing trick. As your brand becomes stronger and more recognizable, your sales will grow along with it which ensures the longevity of your business.
Not only that, but strong branding also allows you to harbor pricing power. Once you reach a certain level, you can introduce premium-priced products without the fear of losing customers to your competitors which is one of the most valuable factors to boost your ROI.
Measuring Your Results
It is tricky to objectively measure the impact of branding on your ROI. It manifests in the form of more traffic, more leads and conversions, more sales, greater search volume, and better word of mouth. While branding does increase your sales revenue, it also does a lot more beyond that in terms of your reputation and perception in the market.
The customer is arguably the best source of data when it comes to measuring the impact of your branding ROI. The way they interact with your content, what they find useful and relevant to their challenges, and how your business can potentially cater to their needs. That is exactly why at Pulse Branding, we build our projects around the values that your target audience holds. Building your brand with instinct data that reflects the needs of your target market bodes even better for your marketing ROI as you are increasing the probability of your success with purpose-driven, customer-centric designs.