Your Brand is a Money Maker
Sometimes we get pushback from prospective customers about our prices. “How can this tiny graphic cost so much?!” they might say. But we truly believe branding adds value.
Branding is Worth A Lot!
We disagree, logo design and brand development are investments in your business. Still don’t believe us? Here are the brand values for some of the world’s most familiar brands:
Coca-Cola’s brand value is $87 billion
McDonald’s is $154 billion
Apple brand value is $263 billion
Amazon is $684 billion
My guess is that they don’t look at their logos and think it’s a tiny graphic. Building brand equity early in your business will be an investment both short-term and long-term. Tailoring a brand for your clients will ensure a steady stream of long-term customers you and thus have the valuable asset of a business to sell.
When your brand becomes so familiar, doing something ‘off-brand’ can be a costly mistake. Like when Gap tried to update their logo. It was a $7 million rebrand that was not well received by its customer base. Here’s a great article that explains it in more depth!
Branding has an ROI
Big businesses see value in branding. From the ROI it gives them, to the money they spend on it, to the money they spend on fixing it. Large corporations know their branding needs to be on point.
SMEs need to start thinking bigger about their branding. While many might not reach the ranks of Apple and Amazon (ranked in the top 10 largest global corporations), business owners are cutting their legs out from under them by not making branding a priority.
Brand recognition is what makes people want to get involved with your business. If you can show potential investors or future owners that you actively have people clamouring to your business, it is worth more. It’s also much less work for someone to get on board with what you’re doing, whether that’s a customer or staff member.
Show People How You Do Business
Having a brand that is professionally done also speaks to your level of professionalism. It shows you talk the talk and walk the walk. When you cut corners in your branding, it shows people that you may cut corners in your business. Have you ever heard the saying “how you do one thing is how you do everything”?
This is a major reason that brands like Apple curate every single brand interaction. From what the store looks like, to how the employees dress, to even what they’re called–”geniuses”. Having that level of detail and dedication in your brand shows that you have that level of detail and commitment to your business. This is how branding adds value.
Need a Brand Strategy?
Do you want your brand to add more value? Hop on a consultation call with us today to discuss your strategy!