Best Practice: ROI – Return on Investment of Branding. Give yourself time and implement a way to measure results.
Today’s Article: ROI – Return on Investment of Branding
ROI stands for return on investment. How do you measure ROI for branding? Focus each component of branding — consumer attraction, perception, purchase and re-purchase process.
Growing a brand is like growing a plant. When you plant a plant, the first year most of the growth takes place in the roots – the foundation that anchors the plant and provides water and nutrients to the plant. In growing a brand, give your self time to establish your brand. Brands are build by consumers being attracted to the brand, experiencing the brand, developing an emotional connection to it and sharing it with friends and other people. It takes time – give yourself time, but have a way to measure brand growth.