“What will be my Return on Branding Investment?”
“Why should I invest in Branding when I can get same results by hiring more salespersons?”
It’s the salesperson that actually cracks the deal and keep the stone rolling. I totally buy-in your point, but at the same time I cannot underestimate the power of Branding. Branding is the differentiating factor between your product & the product of a xyz company.
Once you are established as a brand then your salespeople don’t have to fight to create a visibility space for themselves. Branding is responsible to deliver leads and shorten the sales cycle to generate revenue at a cost and risk in line with other investments that a company might make. Calculating ROBI is really tricky, first you need to understand that it’s a once time investment & you gone reap the benefits of that for a long time to come. To understand the benefits of branding you need to look at the bigger picture.
Once you established as a brand, your Marketing spending will decrease or in other words return on marketing investment will increase. Branding is, and always will be, a creative endeavor. If it’s executed properly then it can drive your sales,you can market your product at a premium price. It just sets you apart from the crowd and that is what required in the today violent market place where new product & service are being launched almost daily. Choice is yours; either you can always remain in the battle field, remain uncertain about when a new company product replaces you & throws you out of the business, or create a permanent place for yourself.