Branding is an investment. Much like a dragon’s hoard, it’s no good to anyone if you just sleep on it. Branding only works if it’s out in the world – attracting attention, trust and loyalty.
But so many small business owners fail to do this.
Which gives you a unique opportunity to get ahead. Branding isn’t a design or marketing exercise to be done and forgotten (or worse, not done at all). It’s an investment made for long-term gain, and the rewards are a greater audience perception and connection.
Branding is often seen as a necessary (but annoying) expense. A cost to be minimised. But those who see beyond this have something far more powerful. It’s one of the most vital assets for driving growth, building trust and creating recognition.
This article explores the hoard you’re sitting on – and how to use branding as a strategic investment for maximum return.
Understanding Branding
Branding is much more than a logo – a key point many small business owners fall down on. It’s the sum of every interaction someone has with your business. From start to finish, it’s the experience your audience has. The feelings people get from your website, interactions, messaging and team all build this.
So it’s maddening how many people see it as a cost instead of an investment.
Key components of your branding include:
- Visual identity – everything that visually represents your business. Logo, colours, typography and imagery all fit in here.
- Messaging – your tagline, slogans and how you describe what you do to help your customers
- Tone of voice – HOW you deliver your messaging and visuals. The tone and character help make you unique through the application of character
- Customer experience – the way you treat customers and how they can interact with your brand.
A strong brand uses all of these elements (and more) to build the trust and loyalty a business needs to succeed. These aren’t ‘nice to haves’, they are vital components of a functioning company.
Seeing this as merely a cost means you’ll never get the benefits out of it.
The Value of Branding Investment
Branding is a catalyst for business growth. You can’t attract paying clients without communicating your product or services, which is what branding does. Branding builds awareness, familiarity and trust – key steps in the sales process.
A recognisable brand makes marketing clearer and more effective. People are more inclined to listen if they already feel a sense of familiarity. Great branding creates an emotional connection that creates recognition and positive reception.
Branding improves customer retention and lifetime value. A strong brand with positive touchpoints creates loyalty. Remember, getting a new customer can cost 5-7 times more than retaining an existing one.
Your brand also creates perceived value, allowing you to compete beyond pricing. If every brand aimed to be ‘the cheapest’, there would be no value in anything. By presenting your brand as valuable beyond price, you can compete in areas where you are strongest.
And research backs this up. Businesses with consistent branding across all channels see as much as a 33% revenue increase. Meanwhile, rebrands and refreshes help companies stay relevant, reposition and accelerate growth.
Short Term vs. Long Term Benefits
It’s important to note that branding benefits tend to be long-term. Branding works in layers, building trust and recognition over time. While paid ads and marketing campaigns deliver short bursts of attention, branding works tirelessly to develop and maintain your reputation.
Branding is an investment that compounds. Used well, it amplifies everything else you do.
Assessing Your Branding Needs
As with any investment, getting the right help is crucial for good branding. It is a constant process but has different requirements at different times. Assessing where you are and where you need to be is a crucial first step in using branding as an investment for growth.
First, identify gaps in your current branding strategy. Is your branding consistent across all platforms? Does it communicate what you do (and why that matters)? Does it resonate at an emotional level with your desired audience?
Asking yourself questions and finding your blind spots helps ensure that spending is used well. Questioning assumptions ensures your brand works from solid foundations and moves in the right direction.
Tools and methods to assess your brand
- Surveys – ask your audience what they think of the brand and what they remember most
- Web analytics – Understanding how customers use your brand ecosystem can help you fix areas that don’t work or capitalise on parts that do
- Social interaction – Monitor your reputation on social media. See what people are saying about your brand and assess general sentiment.
- Audits – Auditing your brand can help you find gaps. Taking stock of assets and presence helps show what’s missing or underperforming.
Remember that targeting the right audience is everything when using these methods. Even the most stunning visuals won’t save you if you talk to the wrong people. Understand your target audience’s needs and values, then speak to these.
Strategies for Enhancing Your Brand
Once you know where your brand needs investment, it’s time to forge something stronger. Spending money on your brand can feel like an uncomfortable cost, but it’s one of the best investments you can make. Customers can sense when something feels cheap and won’t be as prepared to spend money if they believe the delivery lacks quality. Therefore, a brand that doesn’t reflect the value of your products and services actively harms your business.
Build an ironclad identity
Your brand identity is the unique fingerprint that people resonate with. Yours has to be solid to succeed. If you haven’t already, define your purpose, vision and values. These will help you create something unique with a strong foundation.
Craft a visual identity that reflects these and shows your story across multiple channels. It’s no good hoping clients will come to your website, you need to go to them directly. Think about the most important touchpoints that your audience will encounter and work on these. If you go to many trade shows, premium business cards, printed materials, and merchandise may be the first things to consider. If you do all your business online, these will be less important than your social media presence, downloadables, and articles.
Whatever road you choose, a strong set of brand guidelines is vital. As your branding efforts grow, staying consistent becomes harder. Clear brand guidelines ensure consistency across both internal and external teams.
Connect emotionally with your story
Storytelling makes a brand memorable. Sharing the ‘why’ behind your business creates a following beyond products and services. Showing the journey, values and customer transformations creates a deeper emotional connection than mentioning features. Remember to make your audience the story’s hero – it’s about their journey, not yours.
Creating a digital brand ecosystem
Getting your audience’s attention is one thing – keeping it is another. Your digital ecosystem needs to keep your audience engaged until they are ready to buy. Investing in your website, social channels, and email marketing helps keep you front of mind.
Use your digital ecosystem to deliver consistent messaging and visuals. Creating valuable, shareable content helps expand awareness. And don’t forget to interact – this opens further conversations and builds trust.
You can also build collaborations and partnerships in this space. Partnering with aligned brands lends credibility and creates a sense of a shared community.
Measuring the ROI of Branding Investments
Measuring branding ROI can be complex. Branding naturally appeals to emotion, which can be hard to track accurately. But with the right approach, there are ways to measure your success.
First, define your core metrics. These include:
- Brand Awareness – Reach, impressions, direct traffic
- Engagement – Comments, shares, mentions, time on site
- Conversions – Leads, sales, repeat purchases
- Customer Retention – How often people come back, and why
Taking stock of where you are and having a goal is critical to tracking success. When you come to assess this data, use a mix of:
- Attribution modelling (where leads come from)
- Customer feedback and NPS (Net Promoter Score – the likelihood someone will recommend a product or service)
- Brand lift studies (measuring the impact of advertising) to measure perception changes
A strong brand strategy isn’t something you set and forget about. It requires evaluation and iteration. Get feedback, learn from the data and adjust your messaging and visuals accordingly.
Case Studies of Effective Branding Investment
Mailchimp
Mailchimp successfully turned a boring email tool into a creative, welcoming brand. Using a mascot, bold visuals, and relatable messaging helped them stand out in a crowded marketplace.
Old Spice
Old Spice went from dated to iconic. A strategic rebrand, leveraging humour and modern visuals, transformed perception and revived the brand for a new generation.
Patagonia
Patagonia took branding with purpose to a new level. Examples include their ‘Don’t Buy This Jacket’ campaign and donating 100% of Black Friday sales to environmental causes. Patagonia lives its values, weaving them into every aspect of its branding.
In all of these examples, viewing branding as an investment has let these brands succeed. Each company has seen big returns on investments through boldness, reinventing and living its values.
Conclusion – see branding as an investment, not a cost
Your brand isn’t something people pick off the shelf, use and discard. It’s a legacy and should be treated that way. Investing in branding is one of the best moves you can make for long-term success. It builds recognition, trust and loyalty – all vital components for business growth.
Branding isn’t just about how you look. It’s about how you make people feel. Building a strong narrative and emotional connections changes how people perceive your business. This is the best way to build an engaged audience that is ready to buy.
If you haven’t evaluated your brand in some time, take a moment to look closely at your brand identity. Investing in your branding is the best way to ensure your business is always growing.
Ready to make the best investment your business can get? Book a call and we’ll discuss exactly how to do it.
