So is Branding “worth it”? What is the difference between Investment & Expense?
Branding gives you a return of what you put into it. Strategy & Market Analysis go a loooong way in helping you HIT THAT DANG BULLSEYE.
1. The action or process of investing money for profit or material result.
1. The cost required for something; the money spent on something.
Cost, Price, Charge, Fee, Damage
Yes, Damage is a synonym for Expense.
Google “define expense” and check it out.
So if something is an Expense it’s “costing” you something, it’s a damage, and that would make it inherently low value, right?
A damage is a lost cause, it’s you putting in more value (time, money, effort, etc) than you are getting in return. Would you agree?
It’s a wise move to minimize your Expenses, but to maximize on your Investments.
What Happens When You Buy the Cheapest Option Available?
Ever purchased something where you had a few price/quality options to pick from?
Maybe a High price/high quality option, a medium price/medium quality option, and a low price/low quality option.
What usually happens if you purchase the lowest price option?
Is it the best quality you can get? How long does it last? Does it do a good job of what it’s supposed to do?
It’s usually a low price for a reason, right?
(Remember that old say, “If it sounds too good to be true, it’s because it probably is.”?)
They cut corners in the product or service and hope you don’t notice. Sometimes that low price will attract people at first, but do they buy again or tell others about how great it is if it doesn’t…really……work?
It’s probably an Expense, and it’s highly likely that thing will cost you more in frustration than saving a couple bucks is worth.
I Wouldn’t Plug My Smartphone Into a $2 Charger
I’ve seen iPhone car chargers that plug into your cigarette lighter for $2.
The first time I one, I took a double take, “What the heck, a phone charger for TWO DOLLARS?!”
I was in awe. There is no way in the world I would plug my $600+ smartphone into a dinky little $2 charger. That thing would probably overload the voltage and fry my phone. That’s totally not the type of gamble I’m willing to take.
What Happens if You Invest Too Little?
Does a savings account draw much interest if you don’t put money in it?
What if you put the bare minimum in to open the account and don’t ever put any more in?
Your growth due to interest is probably pretty small. The fact is if you don’t pay much into an investment, it doesn’t pay much out.
What Happens if You Invest a Lot?
Put a lot of money into an Investment, and what does it do?
Your return is equally much higher.
Branding is Your Business Identity
Corporate Identity and Branding are interchangeable.
They both mean the Visual & Social Identity of your company.
From childhood we all focus and put a lot of effort into our personal Identity.
The style of music we listen to, the clothes we wear, the type of people we spend time with, the list goes on and on. That’s what makes us who we are. How much effort have you put into the Identity of your Business? The business that allows you to make a living, the business that keeps you alive.
Have you taken careful care to craft it to attract the best customers?
The Threshold Between Investment & Expense in Branding
If you don’t pay in, you don’t get anything out.
Branding is a perfect example. Don’t put any thought, time, strategy, or effort into your Brand and you will reap what you sow. The more you put in, the more you get back.
But there’s a line between Investing so little that you could actually jeopardize your Investment & end up with an Expense instead. There is no hard and fast rule, but putting very little into something we already know will net very little return. Going to the bottom could potentially net 0 return, or even cost you something.
This doesn’t mean you have to put to put a mountain of effort into your Brand to get it to work for you. Think about shooting a target. Instead of shooting blindly without looking and HOPING to hit the bullseye, what if you took off the blindfold and looked at the target, took consideration of the distance and wind involved, then made a calculated decision to adjust your sights? You’ll be infinitely closer to making that bullseye.
You can strategize with your Brand to improve your aim and success rate.
(See: Shift Your Marketing & Branding to SURGE FORWARD!)
Thinking about your Target Market (Ideally those customers who are the easiest to work with, bring you in the most money, cause the least headaches, and keep your Business alive), who they are, how they operate, what they like, how we’re going to attract them.
Investing in your Brand makes a world of difference.
Are You Betting Against Yourself?
Do you believe in yourself, your business, your product or service?
How important is success to you?
If you don’t believe you will succeed, I could totally understand not wanting to put any resources into your Brand. But we all want to succeed.
The bottom line is…
Branding is an Investment if You Believe In Yourself & Want To Succeed
You don’t have to spend a fortune, but the more you put in the more you get out of your Brand. If you don’t take time to aim at the target, you probably won’t hit it.
I am Rusty Marnell, a passionate Graphic Designer here in Amarillo, TX.
Designing innovative Brands for people all over the US and beyond is what I do best.
I love working with passionate people who are committed to making a positive impact in the world. Our time is short on this planet. Check out Time – Stop Freakin’ WASTING IT! to learn how to focus and make your impact bigger! I’d love to have the opportunity to work with you.
One Man Workhorse
Call: (806) 672-8997
Facebook: Octane Studios
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