Return on Investment
8 ‘returns on investment’ from an Inkredible brand:
Many businesses owners who have not undertaken a rebranding or branding project often see it an expensive undertaking. Experience tells us that once a firm has completed the journey, they see the brand process and themselves in a new light. This type of work is genuinely transformative and can generate significant returns.
BENEFITS ON THE OUTSIDE
One of the most noticeable aspects of a rebrand is the transformation to the livery of marketing materials.
- • Key messages are clearer
- • Call to action and response mechanisms are defined
- • Tone of voice is defined
- • Visual look and feel sorted.
When this collateral is consistently presented it delivers a number of benefits:
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Price Premiums
Pricing a product or service higher is also used for Price Quality Signaling. In other words: a higher price signals that there is an improvement in quality. Customers prefer trusted brands and are often willing to pay a higher price because they know what they are getting.
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Improved Loyalty
When customers know what to expect across interactions, they become repeat customers–or better, brand advocates.
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Credibility
Most businesses I come across are good at what they do but pretty poor at telling people what they do – they don’t look or sound as good as what they’re selling. Perception is reality. The branding process helps businesses to move up-market and start working with larger or more appropriate companies.
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Brand Vs Personalities
A sales team that speaks with the same voice and delivers consistent messaging, values, and approaches reduces the reliance on individuals and strengthens brand equity. Thus customers can expect to receive the same high quality service regardless of what channel they go through.
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Sales Conversion
The great thing about aligning your external image with your core attributes, is that you don’t get the tyre kickers. So when people seek you out, they pre-qualify themselves. The result, higher conversion rates, faster sales cycle and lower cost of sales.
BENEFITS ON THE INSIDE
By far the most significant effect to a good brand process is how it transforms the business from the inside.
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Aligned Effort
The clothing of the brand through its identity and marketing collateral is simply the storefront that advertises the changes and riches within. At its heart is a defined clear vision and understanding that has aligned the entire staff around it. This produces aligned effort. The simplest way to test this is to ask: What do we do? At best it will probably be how or what you do – rather than why you do it.
For example: Do you ‘Build Houses’ or ‘make peoples dream a reality’ Even with the best intentions, when the mission, vision, and values aren’t clearly defined, different individuals and departments tend to pull in different directions. -
Attracting The Right People
Communicating your brand accurately attracts likeminded people who align with your ethics and principles. Induction is easier and quicker. When the company’s vision and culture are clearly articulated, new employees get up to speed faster and feel part of the team more quickly.
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Improved Morale and Productivity
When a direction is clear, people can see what’s before them and feel good about aligning with a common goal. There’s something to work towards. Morale and productivity increase.