The 2 Reasons to Invest in Branding & Marketing
Posted on Wednesday, January 18th, 2017 by Joshua Murray
There are a lot of articles that will tell you there are five, or seven, or 12 reasons that you need to invest in branding and marketing for your brand. But to make it clear to you today, we’ve boiled it down to two reasons that everyone can get behind.
Ready? Here We Go!
Reason #1: You Only Get One Shot
From the very start of your brand’s existence you are making decisions that will lead you to your final destination. To start that process without a branding and marketing plan and investment, is a severe impediment to your success.
Through our experience we have found that brands need to be prepared to make an investment of 10% to 30% of their first year sales revenue in order to fully engage in the process and production required to see measurable success. This investment allows you to go to market with a plan that can be executed.
At Blade, we’ve worked with brands to create names, logos, style guides, websites, physical and digital materials, and marketing plans required to get launch ready. Having these materials and plans created professionally, by an agency that understands what your brand is trying to accomplish gives you the ammunition you need to go to the public and start building your brand community and success.
We have seen the success that these brands experience, and we’ve seen the lack thereof in the brands that have opted not to invest in branding and marketing when they launch.
The option to invest in branding and marketing when launching your brand shouldn’t be seen as an option. After all, you only get one shot.
Reason #2: You Can’t Afford To Play Catch Up
Just like in sports, overcoming a deficit as a brand is a daunting task. When your direct competitors are investing in branding and marketing, and seeing the results that come from those investments, the likelihood that your brand will be left behind increases greatly. And when you’ve put yourself in a hole, when you’ve allowed yourself to be at a disadvantage by your own decision making, you’ve got a long, hard road ahead of you to catch up.
That 10% to 30% investment we talked about before needs to increase substantially if you’ve waited too long to start looking at branding and marketing for your brand. And you know you can’t afford that. You also know that the longer you wait to make your impact in the marketplace, the more crowded it gets, the more brands there are the compete against, and the better your brand needs to perform.
One of our favourite quotes is attributed to Henry Ford, and says, “The man who stops advertising to save money is like the man who stops his clock to save time.” In Mr. Ford’s time the terms branding and marketing weren’t used, but today they are, today they matter. And today you could swap those terms for advertising in that quote and it would have the exact same meaning. You can’t afford to save the money that you should be investing in branding and marketing if it means you won’t be building your brand and making more money moving forward.
The long and short of it is this… you can launch your brand without a branding and marketing investment, but the odds are against you, and we don’t recommend it.