The Lure of Branding

By July 22, 2013Marketing
Know where you are and your limits

Know where you are and your limitsHave you ever caught yourself trying to play the same game as many of the big players? Large scale branding that does not carry any call to action to “get your name out there?” Or expect people to go to your website and sign up for your services/products on line like you were Amazon?

 

I bet you’ve tried it and then became frustrated when it did not have the ROI that you had hoped. Here is what is wrong with trying to market like Big Business:

 

 

  1. You do not have the cash flow for marketing that does not have a direct link to sales. Coca-Cola had a $2.9 Billion marketing budget in 2010. This does not include marketing budgets used by independent bottlers licensed to sell Coke products. That $300 billboard that only has the brand name on it is a very small drop in the bucket.
  2. What you see now is a company many decades in business. Comparing your one burger stand to McDonalds and trying to copy their marketing is like my son seven-year-old trying to train with me for the next marathon. Someday it can happen – but today is not that day.
  3. Most large companies already have strong brand recognition and established trust with the market. What percentage of your market would recognize your brand or company name by sight? The Coca-Cola logo is recognized by 94% of the world’s population.

 

Here’s the kicker: none of the large businesses got there overnight. It took time, expense, great word of mouth, and constant vigilance.

 

So the next time you think about “branding,” remember that your brand is your reputation in the market. You customer’s experience with you, your team and your product will help them remember your name far better. A logo alone rarely sells anyone.

 

Develop marketing that helps to develop knowledge of you and your business; marketing that can be traced to sales and shows a definite ROI.

 

Are you ready for marketing that can be linked to sales?