Clarity | Strategic planning & ROI
In this blog series, we’ll attempt to bring clarity to some of the dynamics of building a strong brand.
Investing in building your brand sooner rather than later can net huge budget and logistical benefits in the long run.
Brand value can in some ways be like a 401k or 529 plan. You may not have all the ‘marketing dollars’ you would like to spend at the moment, but a little foresight and careful planning (sooner rather than later) will go a long way.
A house with good bones
It may help to think of your brand in real estate terms. If your business was your house, it would be wiser by any measure to focus on the need to haves (foundation, roof, plumbing) before investing in the nice to haves (plasma TVs, hot tub, motorcycle).
In the same way, if you focus on core branding issues first, you’ll build more long term value into your brand as an asset and be able to tackle the nice to haves from a place of security.
Maximize your ROI.
Think big picture. Start smart.
The prospect of reinventing or refreshing your brand may seem very daunting from a resource standpoint. Be careful not to overlook the power of small steps taken with a consistent eye towards creating communications that align with your brand.
Where to start
Create a comprehensive list of all the communications and marketing tactics you feel would have value in building your brand. Then rank them in terms of investment, starting from what you believe would be the lowest cost to the highest. Next, take a second look at the list, evaluating from the perspective of which items would likely deliver the most dramatic impact on your brand. Lastly, cross check the two lists and plot a chart like the one shown above to determine high value tactics that require the most responsible investment while providing the return it will take to help you to get to the next item on the list.
A little planning now will bring powerful clarity to the path ahead of you. Move forward with more purpose and more confidence and the people around you will follow suit.
We believe you can change the world with your brand. We can show you how.
This entry is part of a six week series exploring answers to critical brand building questions:
WHAT IS A BRAND?
HOW TO TARGET YOUR AUDIENCE
KNOW WHAT YOU ARE SELLING
ENGAGEMENT & TIMING
STRATEGIC PLANNING & ROI
MAINTAINING A HEALTHY BRAND