What is a brand worth?

Creating a strong visual identity that connects with your customer results in a higher chance of purchase. If you allocate the industry average of 7% to your marketing budget and you have developed an authentic brand that people remember, you should be able to reduce your spend by 1%, while still achieving the same results. This will equal:

A brand that is beautifully designed and professional creates an immediate association to better quality and higher prices. This means that when you have a great brand, you can charge more. A brand that has a higher perceived value would allow you to increase the price of your product by a modest 2%, gaining you:

A strategically presented political candidate is able to close 12% more votes. If the same metrics hold true in business as in politics, a strategically designed, authentic brand will convert 12% more people from prospects to customers. We’ll be more conservative in the impact the new “face” of your business will have and reduce that amount to 3%. That gains:

When your employees are proud to come to work, they arrive earlier, try harder, and work later. If in an eight hour shift your proud employees work only 10 minutes harder or smarter, this translates to a 2% impact, which for you is:

Proud customers tell their friends, family and co-workers about their purchase. Out of 100 sales, how many more referrals would you receive? Customers who love your product and the experience will share their feelings, resulting in more referrals and word of mouth. That will result in 1% new business generated from referrals, which equals:

Each year, a brand has the ability to generate the amount shown below in additional revenue. Now it’s up to you to decide if a rebrand is worth the investment or if you should spend it on wine instead. Surprisingly, we’d take the brand. Learn the science behind these calculations by downloading our free White Paper.