“What will be my Return on Investment in Branding?”
“Why should I invest in Branding when I can get the same results by hiring more salespeople?”
It’s the seller who really seals the deal and keeps the stone rolling. I totally agree with his point, but at the same time I can’t underestimate the power of branding. The brand is the differentiating factor between your product and the product of an xyz company.
Once you’ve established yourself as a brand, your sellers won’t have to struggle to create visibility space for themselves. The brand is responsible for generating sales leads and shortening the sales cycle to generate revenue at a cost and risk in line with other investments a business might make. Calculating ROBI is really complicated, first you need to understand that it is a one-time investment and you will reap the benefits for a long time. To understand the benefits of branding, you need to look at the big picture.
Once you establish yourself as a brand, your marketing spend will decrease, or in other words, your return on marketing investment will increase. Branding is, and always will be, a creative endeavor. If executed correctly, it can boost your sales, you can market your product at a higher price. It just sets you apart from the crowd and that is what is required in today’s violent market where new products and services are launched almost daily. The choice is yours; or you can always stay on the battlefield, remain unsure about when a new company product will replace it and drive you out of business, or create a permanent spot for yourself.