One of the most elusive questions for a brand strategist and designer is:
“What will the return on my investment be for my logo design or brand strategy?”
I wish there was some proven formula that would allow me to provide exact numbers before anything happens but there is not. I will try my best to provide some answers as this is a question that is asked often.
An awesome brand does not guarantee any improvement in your bottom line and most importantly, the company has to live the brand promise that the graphic identity communicates in order to be successful. Without people that believe in the business, the brand is bound to fail. Because the success in a brand and ROI of a brand relies so heavily on how it is implemented, let’s assume that for this post the brand message is concrete, the visual presence is clever and the company takes pride in the promise the brand makes to its customers.
With that in mind, what kind of return on investment can we expect from an identity designed by a brand strategist and design expert? Ultimately the brand will positively impact the bottom line in these ways:
1. You will save money in continual logo redesigns and the costly task of reprinting marketing material every time you switch your identity. A quality brand designer should only provide you with timeless options; designs that will allow you to grow as a company without having to reevaluate your image every couple of years.
2. Your brand’s public recognition will increase and turns into word of mouth referrals. When a brand is used consistently, prominently, and often, the public starts to recognize who you are, know what you do and when they need you, you will be top of mind. When a friend needs something, you will be the first they mention.
3. Your employees understand, believe, and are motivated to be brand stewards. At a very basic level, a logo represents the company to your employees. When your employees are happy and ambitious, they live the brand and promote your company because they are genuinely proud. Like a family crest, it brings all employees together under one message with pride.
4. Your brand’s market recognition will increase and that directly translates into sales. When promoted to your demographic properly, the brand that was designed to get communicate and evoke response, will do exactly what it was designed to do.
5. Your first impression will impress. Changing your brand after your company has been released into the market can be confusing for your employees, off-putting to your customers and makes you unrecognizable to your market. Having a well designed brand and solid strategy from day 1 makes that first impression count more than I could ever explain. With one introduction the brand will be remembered, understood and over the next impressions, if not the first, will evoke the positive response – turning into sales.
The truth is, that when done properly, the brand will have been the catalyst for the majority of profits/benefits you endure with your business after the professional brand is put in place.
Look out for next week’s post when I discuss the pitfalls of having your hairdresser’s cousin’s wife create your logo on Photoshop Elements in her basement after she comes home from her day job of office administration.