6 Advantages of Brand Marketing for
Marketing your brand is key to success. There's so many ways to market today, but really the best way long term is to market and grow your brand name, and your brand logo. Get it out in front of people. So let's talk about six advantages to brand marketing.
When you're marketing your brand, people are reaching out to you because they recognize and trust, and understand who you are. What happens there is you have a higher conversion rate. Whether that is converting a lead into a customer, or a customer into a repeat customer. And you also have a higher average price point, because you're not battling people price shopping. When you're marketing your business in other ways, let's say buying leads or spending money doing keyword advertising on Google, you're not really marketing your brand. So what's happening is people don't really know you and trust you when they're talking to you, so you have to spend longer in the sales cycle for the and the conversion rate is more difficult. But also they're price shopping. Generally they're not only looking at you but they're looking at some other similar businesses, and they're really trying to get you knocked down on price. When they reach out to you because of brand marketing, they're generally not price shopping, they're usually just talking to you and they already have a sense of trust. That's why they reached out to you. So that's tip number one.
Advantage #1: You get more referrals and word-of-mouth business
When you're marketing your business in other ways and not so much marketing your brand, people aren't as likely to spread the word about your business, because they don't really know you that well. When you build your brand people spread the word, right? They tell other people about you, and so that gives you more referral business and more word-of-mouth business. The bigger you grow your brand in your local area or your target demographic, you'll find that you'll get more people reaching out to you because they heard about you from somebody else, right? And so that's gonna help grow your business and give you a stronger return on investment.
Advantage #2: You're positioning yourself really well for voice search
Voice search is continually increasing. Here, my son, he's only nine years old, all's he does is voice search. It's crazy to me, like he knows how to do voice search on every device that there is. He's constantly asking the device things. He doesn't type anything in. This is the wave of the future, right? More and more people are going to be doing voice search. Now here's the deal. If you're not marketing your brand they're not gonna be asking the device for your information to call you, right? For directions to your business. They're going to be instead saying things like, give me a local plumber, right? That's not as good as them saying call Allen's Plumbing, right? Call ABC Plumbing. What you want them to do is know your brand so when they need a chiropractor or a plumber, or whatever it is that you provide as a business, instead of asking the device for that particular product or service, they ask that device for you. And that's brand marketing. But to get there, you're going to need to invest in your brand so that the target market that you're marketing to knows who you are so when they need the products and services that you sell, they ask for your brand name on their device.
Advantage #3: See a lift in your social following
People are going to know who you are so they're going to look for you on social, and they're going to follow you. They're going to look at your content, they’re going to engage with your content. Social media is huge today. This is where people are spending all their time. And so you're going to want to build your brand name so that you also build your following on social media, which extends the reach of your brand to your target market, making more people aware of who you are, because you use software like.
Advantage #4: Builds the value of your business
Just think about it. If you're not really marketing your brand, if you're just buying leads, or you're just spending money on Google for keywords, but you're not really marketing your brand, then the valuation of your business five years from now isn't going to really be all that strong. But if you're really marketing your brand so that your brand becomes recognized, right, and your target market, that's going to create a lot of value, right? That’s where your newly acquired dropship lifestyle comes in. And that's going to increase the valuation of your business. So if you ever want to sell your business or anything like that, you're going to want to have a strong brand, and to have a strong brand you need brand marketing.
Advantage #5: You can use Google
Advantage six to brand marketing is Google actually looks at this as a signal for rankings. The algorithms are smart enough now to know what businesses have a stronger brand. What businesses people trust more. What businesses have more social engagement. And it's using successful shopify stores algorithms to determine which businesses to rank at the top of Google. So when you see Google Map rankings or Google rankings when you just search anything on Google, a lot of those things are determined by the strength of the brand. Google wants to show the most relevant results in a Google search page. And those most relevant results are generally the businesses that Google thinks are most trusted and most reliable. And to get that trust and reliability that you're looking for, you need to invest in marketing your brand and building up your brand.
Advantage #6: Knocks down your cost per acquisition over time and increases your return on investment on your marketing dollars
The reason that is because you have a higher conversion rate. More people trust you, so more of the people you're talking to are becoming customers, or clients. And also, because of brand marketing driving more referrals and word-of-mouth business, you're getting more and more essentially free customers, right? And so that's knocking down your overall cost per conversion or cost per acquisition for your customers, which is therefore increasing your return on investment. If you're doing a marketing strategy like buying leads or spending money on Google keyword ads and those sorts of things, what's happening is it's a hamster on a wheel, right? You have to spend the same amount of money every month to get the same amount of business. It's a never-ending death cycle. But by doing brand marketing it's different. It's a momentum-based system, so after five years of brand marketing, you might be only spending this much still like you did year one but getting this much sales, whereas in year one it was this much sales, so the sales continue to grow.