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Is building a brand worth it?

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As a new brand, it can be difficult to measure the true ROI of building a brand first. This along with limited resources and budget may dissuade you from focusing on a brand identity and marketing strategy that puts your brand first. Before jumping directly in to direct response campaigns, it’s important to consider how strong branding can impact your funnel conversion rates.

Awareness:

If you’re going to optimize a sales funnel, you’ll need people to enter it. By focusing on your brand identity and optimizing your acquisition strategies, you’ll ensure there are always new people to nurture to a sale and the opportunity to create loyal fans and advocates. 

Consideration:

Defining yourself in a competitive landscape is a key element to creating successful direct response campaigns. Whether your product is proprietary or a new twist on an existing product, your brand identity can differentiate you from your competitors, positively impacting conversion rates. 

Loyalty:

In a stat shared by invespcro, loyal customers are worth up to 10 times as much as their first purchase! By building loyalty, you lower your cost of sale acquisition and increase average lifetime value for your customers. This also gives you the opportunity to understand what your brand is doing right and optimize your messaging throughout the funnel.

Advocacy:

Give your customers something to talk about. An identity that is accurately aligned with your target audience will consistently give your customers something to talk about and keep your brand top of mind when someone they know a is shopping for a product like yours. 

There are many other benefits throughout your funnel to defining a strategic brand identity that is aligned with your target consumers. By defining your KPI’s, as it pertains to each desired activity in your funnels, and setting up comprehensive tracking, you’ll be able to easily see the lift your brand gives you as well as define opportunities for better brand communication.  

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