Top 9 Advantages of Branding & Marketing
Marketing your brand is key to success today. Marketing your brand is key to success or so many ways to market today. The best way long-term is to market and grow your brand name and your brand logo. Get it out in front of people.
Let’s discuss the top 9 advantages of branding & marketing.
9 Advantages of Branding & Marketing.
You Build Loyalty and Trust
People are reaching out to you because they recognize and trust and understand who you are. What happens there is you have a higher conversion rate, whether that is converting a lead into a customer or a customer into a repeat customer.
And you also have a higher average price point because you’re not battling people. Price shopping When you’re marketing your business in other ways, let’s say buying leads or spending money doing keyword advertising on Google, you’re not really marketing your brand.
So, what’s happening is, people don’t really know you and trust you when they’re talking to you, so you have to spend longer in the sale cycle when the conversion rate is more difficult, but also their price shopping.
Generally, they’re not only looking at you, but they’re looking at some other similar businesses, and they’re really trying to hit, get you knockdown on price when they reach out to you because of brand marketing, generally not price shopping, they’re usually just talking to you, and already have a sense of trust, that’s why they reached out to you.
You get far more referrals and word of mouth business.
Another advantage to branding is you get more referrals and word of mouth business when you’re marketing your business in other ways and not so much marketing your brand.
People aren’t as likely to spread the word about your business because I don’t really know you that well. When you build your brand, people spread the name.
They tell other people about you, giving you more referral Business and more Word of mouth business.
The bigger you grow your brand in your local area, where your target demographic, you’ll find that you’ll get more people reaching out to you because they heard about you from somebody else, right?
And so that’s going to help grow your business and give you a more substantial return on investment advantage.
You are positioned well for voice search!
You’re positioning yourself really well for voice search. Voice searches continually increasing. People are increasingly learning how to do a voice search on every device that there is. They are continually asking the device things they don’t type anything in. This is the wave of the future.
More or more people are going to be doing a voice search. Now here’s the deal, if you’re not marketing your brand, they’re not going to be asking the device for your information to call you right for directions to your business.
They’re going to be instead of saying things like, give me a local plumber, right? That’s not as good as them saying Call Allen’s plumbing right call ABC Plumbing, which you want them to do, is knowing your brand.
So, when they need a chiropractor, a plumber, or whatever it is that you provide a business, instead of asking the device for that particular product or service, they asked that device for you, and that’s brand marketing.
But to get there, you’re gonna need to invest in your brand so that the target market that your marketing to knows who you are.
So, when they need the products and services to choose a cell, they ask for your brand name on their device.
More social engagement and followers hence more organic reach!
Marketing is you’re going to see a lift and your social followers. People are gonna know you are. So, they’re gonna look for you on social. They’re gonna follow you. They’re gonna look at your content.
They’re gonna engage with your content. Social media is huge today. This is where people are spending all their time.
So, you’re gonna want to build your brand name so that you also build your following on social media, which extends the reach of your brand to your target market, making more people aware of who you are.
You build the value of your business.
Another advantage of brand marketing is it builds the value of your business. Just think about it.If you’re not really marketing your brand, if you’re just buying leads, or you’re just spending money on Google for keywords, but you’re not really marketing your brand, than the valuation of your business five years from now isn’t going to really be all that strong.
But if you’re really marketing your brand so that your band brand becomes recognized, right, and your target market that’s going to create a lot of value, right, And that’s gonna increase the valuation of your business.
So, if you ever want to sell your business or anything like that, you’re gonna want to have a strong brand and have a strong brand. It would be best if you had a brand marketing advantage.
Brand Marketing Is Google Looks at This as A Signal for Rankings.
The algorithms are smart enough now to know what businesses have a stronger brand, what businesses people trust more, what companies have a more social engagement, and it’s using these algorithms to determine which companies to rank at the top of Google.
So, when you see Google map rankings or Google rankings, when you just search anything on Google, a lot of those things are determined by the brand’s strength.
Google wants to show the most relevant results in a Google search page. Those most rebel relevant results are generally the businesses that Google thinks are most trusted and most reliable.
And to get that trust and reliability that you’re looking for, you need to invest in marketing your brand and building up your brand vantage.
Reduces Your Cost Per Acquisition over Time and Increases Your ROI
You have a higher conversion rate because More people trust you, so more of the people you’re talking to are becoming customers or clients and because of brand marketing, driving, more referrals, and word of mouth business.
You’re getting warm or essentially free customers, therefore that’s knocking down your overall cost per conversion or cost per acquisition for your customers, which is therefore increasing your return on investment.
If you’re doing a marketing strategy like buying leads or spending money on Google keyword ads and those sorts of things, what’s happening is it’s a hamster on wheel, right? You have to pay the same amount of money every month to get the same amount of business.
It’s a never-ending death cycle, but by doing brand marketing, it’s different. It’s a momentum-based system.
So, after five years of brand marketing, you might be only spending this much still like you did your one. They’re getting this much sales, whereas in year one it was this much sales, so the sales continue to grow.
Helps You Capture More Market Share in Your Area by Building your brand.
Your goal should be when people in your target market or your local area need the products or services that you provide, they think of you first. And if they do, that means you control that piece of the market.
You captured that market share by not marketing your brand when they need the products or services that you provide, and they don’t think of you.
First, they think of somebody else, or they think of happening to search that keyword on Google.
You haven’t captured that market share, and so you have an opportunity there, right, and there’s a cost to lost opportunity. So, what you want to do is invest in building your brand to capture more market share over time, and as a result, you’ll see a lot more sale
How to do Brand Marketing
Talking about brand marketing isn’t so much an advantage as it is some tips on how you can actually grow your brand and invest in marketing your brand, so there’s a lot of different ways, but you’re gonna want to be multi-channel.
You’re gonna want to make sure you get your logo out in front of people in your local community. Whether that’s through community fundraisers, you know, being a part of the community activities that are going around on around town.
Or if your target market, you no larger than a local community being on digital presence. You know, whether it’s social media marketing, doing YouTube advertising. Maybe get in of acts like with the Waze app with your logo getting on digital billboards.
Rules are becoming very popular around town; You see these digital billboards along the roads and highways. Get your logo up there.
Just get in front of your target market as much as you can with your logo and your brand name.
You don’t need over complicated. You don’t need a catchy call to action or special offer, anything like that.
Just gets your name out there. Be involved in your community both on social media and just out. Be on digital billboards and threw fundraisers and those sorts of things so that over time the local community just sees you so much that when they think about the products or services that you provide, they think of you first because you’ve only been everywhere, right, and that takes time.
But it takes investment as well and so think about what you can afford for your business.
We would recommend reinvesting 10% of your revenue back into marketing your brand monthly for brand advertising. So, whatever your income was, reinvest 10% back in the brand marketing.
That way is you grow your business, and your revenue increases. You also increase your marketing budget.
And that way, the marketing budget, as it grows, can continually propel you forward on revenue growth and growing your business for success.