ROI, or return on investment, is a metric used to measure the profitability and effectiveness of an investment. Here at Trio, all of our processes and structures are rooted in getting our clients a big return on their investment.
Why? Because GREAT branding is expensive. Because we genuinely care about our clients making their money back and then some. (Read: a shit ton) Because we believe in the power of branding to transform your business, and therefore your life.
So in this post we’re going to dive into the Return on Investment of stellar branding. Both the tangible and intangible things you can expect to see when you invest in a thoughtful, proven brand strategy that is centered around scaling your income and your impact.
Ready to dive in? Let’s do this!
When you have an efficient brand strategy, you are extremely mindful and intentional about who it is that you have the best capacity to serve. This allows you to tailor your offers (along with your messaging & visuals) specifically to your ideal audience so they feel seen, understood, and valued.
The generalist approach doesn’t work. The least effective brand positioning you can have is “we have something for everyone.” This isn’t memorable or unique, and your shopper will look elsewhere for someone who cares more deeply and is more experienced in specifically what they are looking for.
Great branding accounts for this and makes sure you have an irreplaceable spot in your industry, so your offers will be sought out amongst the competition. Ultimately, these efforts lead to an increase (usually a BIG one) in revenue.
People want to refer businesses that are exceptional. Branding your business provides a high-tier experience for your clients that will undoubtedly get them talking.
When you have a particularly cool experience, what do you do? You tell your friends about it!
People love to talk about their awesome vacation, chat about a cool store they visited, or gossip about a neat friend they met. The same rule applies for your business.
Word-of-mouth referrals are still the #1 way Trio books clients, and we credit the incredible people we work with, as well as our brand positioning, for getting the word out.
We recommend 95% of our clients raise their prices before we launch their new look. This is because they now have an irreplaceable spot in their industry and the visuals and messaging strategy to back it up. Branding creates such a stellar first impression, because people assume if you have a hacked together, lackluster website, that you also have a half-assed and sub-par service.
Show your audience you care about your business and the end results they’ll receive from working with you. Quality matters.
I urge all business owners to embrace this mindset: An oversaturated market, isn’t a stop sign, it’s a sign that there is a market for what you’re trying to do.
Let’s take the photography industry for example. It only takes a second to log-in to Instagram and see a swarm of photographers showcasing their work and trying to book sessions. This doesn’t mean you shouldn’t try to be a photographer. Quite the opposite! The fact that a lot of photographers are booking sessions and have thriving businesses is a sign that people want photography services.
The more oversaturated a market is, however, the more necessary it is to brand your business because it will help distinguish you in a sea of sameness.
Let’s continue with the same photography industry example I used above. Let’s say you’re a wedding and elopement photographer who is trying to book your calendar with dream clients for the upcoming summer. If someone is in a committed relationship (that’s getting hot and heavy, let’s say), when their partner pops the question they’ll be stoked because they’ll know exactly who to hire to capture their big day.
This same principle applies to every industry. Sometimes our ideal buyers aren’t in the market for our product or service right now, but that doesn’t mean they won’t be soon. Staying top of mind through memorable branding, ensures that you’re people will hire and buy from you when the time is right.
Ultimately, great branding will allow you to scale your business in record speed because you will have found your unique spot in your industry and the demand will increase for your products and services. This results in raised prices, more revenue, and more impact as you work to scale your business and improve your life.