Recently I met with a colleague to discuss our brand development process. Our approach intrigued him as he could see the power brand development can offer businesses of any size or industry. But the conversation kept coming back to the question of a return on his investment (ROI).
That’s a lot of money, is it worth it? How do I know I’ll get a return on my investment from this process? He kept trying to calculate the return and asking precisely when that might be realized. He was thinking in absolutes. And marketing is not about absolutes. Ironically, he was a living example of the point I was trying to make.
You see, this was my second visit to his office. Since my first visit, he had completely redecorated the lobby. Not a simple makeover, mind you; they really put a lot into it. A newly tiled floor. Sharp fixtures. New art. A newly furnished and welcoming reception area. Fresh flowers added a nice touch. And the new corporate signage above the reception table solidified the impression they were trying to make on visitors. Impressions create a mental association. Any visitor would remember this office, and therefore his company, as professional and competent. That visual impression will be forever tied into a sensory recognition and therefore the company identity.
When I commented about the lobby, he enthusiastically went into detail. It was clear that he had been involved in the design concept. After he had detailed the dramatic improvements and shared the customer response (they loved it), I asked wryly, “So what was the ROI?” He knew then that some things are not and cannot be simple and absolute. The lobby improvements made a lasting impression and therefore will have continuous impact. How do you measure that?
Sometimes we do things to improve our corporate image simply because it’s necessary. After all, image is everything. Sometimes there isn’t a definitive ROI. That doesn’t mean there isn’t a ROI. It’s like trying to calculate exponentials. The possibilities keep expanding into this infinite universe.
If the end benefit is to improve your standing in the eyes of your target market, to gain an edge on the competition, to cast your company as the best solution to a prospect’s dilemma, it is money well spent, no matter what the ROI.
Brand development is an investment, but not unlike other expenditures that a company makes everyday. Ultimately, brand development drives business growth through differentiation. When the end result is an enhancement of the company image in the eyes of its target audience, the ROI will be there.
In today’s marketplace, branding is more important than ever. In a sea of competition, your brand is your message of distinction and in the eyes of your target market, makes you the clear cut, standout winner. Get their attention and ROI will follow. I promise.
ROI is Everything . . . Or is it? - To learn more about this author, visit Ed Delia's Website.
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