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The Case For Making an Investment in Brand Building
Customer acquisition costs are through the roof, but CEOs are still reluctant to spend on brand building. Only being focused on demand generation is an old-school way of thinking.
Here's why you are scared to spend on building brand awareness:
- Hard to prove instant ROI, i.e. easier to spend on ads
- Attribution is a challenge, i.e. easier to see a lead from an event
- It's not data-driven, i.e. can not use a model from day 1 to prove it works
- The lens is on the short term, i.e. only thinking about this quarter's number
Demand and acquisition is the easy route.
The challenging route is investing in the long-term leverage of building a movement and message. That's why most opt for easy. But if you choose the hard way, you'll be forced to work through big problems that will help support your go-to-market success.
These are:
- How to improve the clarity of messaging and positioning
- How to be positioned in a noisy market
- Does the value proposition resonate
- Are people engaging with what you do and the mission
- Who is your ideal audience profile
Isn't it time to rethink the value of brand spending?
The case for ROI is what if you don't do anything.
What happens in 6 months when you have no ad budget spend, Linkedin ads increase prices by 40% with a crowded category, or you have no outbound/ demand generation team?
You'll wish you built a brand when those situations happen, that's for sure.
(1) DUE DILIGENCE FOR INVESTORS & CEOs: A bespoke framework and capability model 'DEMAND KARMA' that delivers DD services to investors, VC firms and CEOs.
(2) ADVISORY: Retained advisory at funded scale-ups. A simple monthly fee. Helping CEOs build a scalable marketing machine. (Booked out until December)
(3) STRATEGY COACHING: Book time on my calendar to work through a standalone project or to get answers to your most pressing marketing strategy and execution questions.
If you're interested, let's jump on a call to see if you're a good fit.
