Great Expectations: Brand Building and ROI
Brand building and the return on the investment it takes to build a brand are, to a great degree, difficult things to measure. They can be a bit elusive and hard to define. The measurement involves participation in and understanding of a process that takes place over time, utilizing and considering numerous variables and methods to create a sense of familiarity, awareness and trust in a product or brand name. *Note the phrase “over time.”
There are some seemingly lucky dogs that hit on an overnight success, but those instances are rare, and most often only have the appearance of overnight success. The behind the scenes relentless messaging, marketing, PR, promotion and brand building work that takes place is usually not visible to the naked eye. And it really shouldn’t be.
Patience is key here. Focusing too heavily on tangible and quick ROI, dollar for dollar is futile. Investing in a promotional campaign that sends traffic to your site, starts people talking on the internet and elsewhere about your brand, increasing your Google ranking, getting your brand more attention from other media and other venues, though it may not seem like a strong dollar for dollar return, one has to consider what awareness is worth. When does the dollar return come from a promotional investment? Maybe not for months or even longer. What will greater brand awareness lead to? Customer trust and loyalty, new business, and more sales, but it most likely will not be right away. To expect to pay a dollar for promotional work and the next day get two dollars back is unrealistic, but that oftentimes is the expectation when a client asks about ROI.
Data is useful, no doubt about that, but data can be deceiving. If a promotional campaign does not immediately and directly produce sales, but does drive traffic and produce positive awareness, is that considered to be a poor return on investment? I would argue that ROI doesn’t necessarily have to translate directly to dollars out vs. dollars back in. The return may not come in ways that can easily be counted. The return can come in ways that are impossible to measure. It can come from a positive consumer feeling about and recognition of a brand, trust in a product, understanding of and connection to what the brand stands for and what a company is all about. All of that has to come before many consumers will be willing to spend one penny to buy. How do you measure and value the various elements of ROI?
One of the basic concepts in social media and online networking and marketing is about giving, yet there seems to be a lot more taking going on lately. Although I agree that the participation in the social web absolutely needs to have that element of helpfulness, it doesn’t mean that professional creative services should be expected to be given away for free or for a few bucks. Here are a few recent scenarios that have come to my attention:
I came across a company name the other day and when I saw it, I truly had to do a double take. My point is not to embarrass anyone here, so I won’t reveal the actual name, but let’s suffice it to say that it conjured up images of baking diapers in an oven, quite literally. O – k-aay, I thought to myself. I’m picturing a lovely woman in a nice white chef’s hat and coat with oven mitts and a nasty tray of …oh, I can’t continue. With this image in my mind, I felt compelled to go to the site and see for myself what this product could possibly be.
































