Today’s Tip
Best Practice: Brand ROI: Return on Investment is a long-term investment. Branding is critical for company future sustainability and profitability.
Today’s Article: ROI: Return on Investment of Branding
A successful brand influences all areas of the business, both internal and external. Brand (ROI) is a long term investment. It is a critical investment in the company’s future sustainability and profitability.
Successful brands need a Brand Guidance System (BGS) and Brand Positioning System (BPS) to help the company to reach, inspire and attract repeat customers.
Brand Guidance System (BGS) directs company brand decisions. The (BGS) needs real-time data to adjust decisions in products, services, competitive advantage, pricing, packaging, location, etc.
The Brand Positioning System (BPS) similar to Global Positioning System (GPS). (BPS) provides the real-time data to help the company see where they are in the market and what adjustments are necessary to reach, inspire and attract repeat customers.
“You can’t manage what you don’t measure.” Peter Drucker
BPS Collection Systems
Overall Brand Review (Monthly, quarterly and annual)
Two Way Feedback – Annual
Brand awareness, value, uniqueness, connection, loyalty, satisfaction etc.
Customers, Employees, Vendors, Owners, Investors and General Public
Company/Brand Financial Management (Monthly, quarterly and annual)
Cash flow Statement, Profit and Loss Statement and Balance Sheet
Promotion Review (Monthly, quarterly and annual)
Cost per Inquiry by Marketing Source, Cost per Appointment by Marketing Source and
Cost per Sale by Marketing Source
Action Step: Check the systems below that you are going to measure to better manage your brand and company.
BPS Collection Systems
___ Overall Brand Review (Monthly, quarterly and annual)
Two Way Feedback – Annual
Brand awareness, value, uniqueness, connection, loyalty, satisfaction etc.
___ Customers
___ Employees
___ Vendors
___ Owners
___ Investors
___ General public
Company/Brand Financial Management (Monthly, quarterly and annual)
___ Gross Sales and Profitability
___ Cash Flow Statement
___ Profit and Loss Statement
___ Balance Sheet
Promotion Review (Monthly, quarterly and annual)
___ Cost per Inquiry by Marketing Source
___ Cost per Appointment by Marketing Source
___ Cost per Sale by Marketing Source
Additional Resources
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