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Monday, November 18, 2013

How to show your company branding is an investment and not an expense

Marketing with branding boosts business positioning
Cost benefit analysis helps justify brand building
By Ashley Hughes

If you are employed at a small business, you can build strong relationships with the owner of the company, management, and the few employees who work for the company.

With a larger opportunity to build strong relationships within the organization, you will have a wide range of responsibilities to contribute to the success of the company.

Sales representatives, customer services personnel, and marketing teams within smaller businesses will all work together for the common goal of increasing revenues and building a book of business. 

While all small business owners realize that they need to market, marketing expands beyond cold calling, direct mailers, billboards, radio advertisements and infomercials. In fact, everything that you do daily to communicate value is marketing, and you cannot market a business that does not have its own unique brand. If you believe in the products or services that your company offers and you want to communicate what makes your company unique to a target audience, read on and learn how to convince authority figures to invest in branding. 

Be prepared to show management why marketing is an investment and not an expense 


When a business owner is searching for investors to fund business endeavors, the financial investors who lend money want to do more than just hear a pitch. These investors want to see reports and details for analysts that show projected expenses, revenues, and profits. You need to take this same approach when you want to convince management that they need to invest in branding if you want to be taken seriously. 

No matter how close knit of a group you work for, money is money and company management will want to see how the money spent creating a brand and building brand recognition will increase profits. When you set a meeting with your boss, make sure you take the proposal seriously and gather all of the data necessary to show how important branding is for a company of any size. Without a brand, or a unique company image, the company cannot expect to attract a target audience with a genuine interest in what the company sells.

A brand is a company's reason for being 


Many times, company owners see a brand as a logo, a slogan, or a piece of publicity, but this is a very narrow way to look at branding. Studies show that far too many new enterprise owners under invest in branding because they do not realize that branding is the enterprise's entire reason for being. When you have a brand, you answer the tough questions that will help you define your purpose in the industry and the foundation of the strategies that will later be using in marketing. With a culture, a set of core values, a purpose, and a unique voice, the company can convince the market that it is well established and has a secure foundation.

Price the cost of branding efforts 


When you are pitching branding ideas to management, you need to be able to show management how much it will cost. Implementing a branding strategy will require money, but it will also require time, and you should be realistic in showing this to members of authority. You can pay a firm $20,000 to $50,000 for a big company name and logo, or you can brainstorm as a team and spend more time then money creating the company's identity

Building a brand is an activity that no business, no matter how small or large, should put off. While product development, choosing the right location, hiring the right professionals, and marketing are all important core activities, branding is a serious one that is far too often overlooked.


About the author: Ashley Hughes works with individiuals and companies worldwide to help with brand management and strategy. When she is not building reputation online, she is busy learning how to become the world's next best chef.

Image license: Henri Pontes, CC BZ-SA 3.0

3 comments:

  1. Nice Blog !!!
    post is very informative and easy to understand.
    Thanks for sharing such nice information of corporate branding companies .

    ReplyDelete
  2. Lots to pay attention to

    ReplyDelete
  3. There is no ultimate right or wrong in a culture, but there are attributes that will be right or wrong for you, or your investors.brand asset management

    ReplyDelete