All businesses want to optimise revenue. Your business strategy will identify ways of driving revenue; your marketing team will generate awareness and leads; your sales team looks at the most effective ways of converting leads to sales, and then your customer service helps to keep customers buying.
Another key factor to consider is your brand.
When your brand is developed professionally and used consistently, it will play a key role in driving profitable revenue.
If you take the big-name players; the larger organisations such as Coca Cola, Apple and Nike; their branding is clear, consistent and treated as arguably their most valuable asset, not as an option that is created by ‘the colouring in department’.
To paraphrase a top executive from Coca Cola, if all their manufacturing and bottling plants were to stop functioning, they would be able to replace them. If, however, all their customers had their memories wiped and they had no knowledge of the brand, their business would cease.
But you are not Coca Cola – how does this affect you? Well, the organisations that dedicate time, effort and budget to their branding build the staying power through developing a stronger and more established connection with their customers.
Developing a strong brand that really matters will ensure that you resonate with your customers and that your branding drives sales and works for your organisation day-in, day-out, being supported by marketing campaigns.
Being identifiable, memorable and more easily understood as an organisation will increase revenue. For that reason, there is no question that it deserves dedicated time, team effort and a budget to ensure your brand is working successfully for your organisation.
Benefits of developing your brand
To understand the true value that
brand development
has you need to appreciate what it can do for you and what the benefits are. When your brand is cohesive, delivered well and consistent it creates consumer confidence and will always be working away in the background pushing sales without the need to rely on costly marketing campaigns. The brand will be there, front and centre and being noticed; the badge that demonstrates your values.
A consistent brand will ensure unity and cohesion across all collateral and media, whether that is
online
or via print publications, such as flyers, business cards,
brochures. A strong brand that works well will sing professionalism and hit the high notes that your competitors will aspire to reach.
A brand that truly reflects the organisation’s personality will ultimately give employees more buy in into the
mission, values and ethos. When an organisation shows up and knows who they are, unapologetically and authentically, you’ll not only attract the right customer following but the right employees who will be more engaged and passionate about their place of work and want to see it succeed.
How branding impacts on revenue
Branding can impact on revenue in a variety of ways. We know from our own personal experiences that on purchasing a product or a service the experience and relationship that we have during that transaction ultimately paves the way for how much we are prepared to pay, and whether or not we choose to buy again. People develop an emotional attachment to the brands they love; whether it’s the personal values of their hair stylist, or the global operating system they champion (think Apple and Android). Delivering a strong
brand image
will create consumer confidence and help maintain the loyalty of customers who will spread the word in ways you just can’t buy, and attract like-minded new customers into the flock.
Careful branding will increase customer awareness and ensure you stay at the forefront of your target audiences minds via frequent exposure and establishing a genuine connection. Knowing your values and having a following that buys into those values will give you a niche that other competitors cannot tap into. Your brand will stand alone and be instantly identifiable and be banked in the memories of your target audience.
The importance of branding should never be overlooked. Building a strong brand runs in to all areas of an organisation from the customer experience, the
marketing campaigns
to the trust and belief of your employees. All of these factors have an impact on revenue and that impact should never be underestimated.
How LCM can help you?
Our approach to develop a compelling brand identity has transformed organisations not only in how they convey themselves to the outside world but to how they operate.
To understand how we might be able to help you increase revenue in your organisation by developing your brand please don’t hesitate to get in touch with us by calling
01489 891870
or emailing us at
info@lcm.co.uk.
