Reinvesting Your Profits To Improve Your Brand

In the early days of a new company, a few things are almost guaranteed. Money is tight, resources are scarce, and you aren’t able to do everything you want when it comes to marketing and branding. This is entirely understandable and to be expected for any business just starting out. Any early capital you have is earmarked for equipment, product materials, and other fundamental basics to help you launch.

 

Unfortunately, this type of budget crunch usually impacts marketing and your brand the most. You would love a multi-page, user-intuitive, beautifully designed website to tell your story and showcase your products. However, due to cost, you probably have to settle for a simple, pre-made template. Ideally, your social pages would be filled with professionally written content and designed imagery. Due to financial restraints, you are forced to make do by writing your own blog posts and creating basic images.

 

It is important not to get down on yourself because your branding isn’t where you want it to be yet. The day will soon come where you will begin to turn a profit and have money to spend. It is essential to always have a plan in the back of your mind regarding where you will reinvest your earnings when the time comes. It’s important to understand why improving your brand presence is a top priority once you begin to increase your company’s cash flow.

 

When a company first starts out, consumers don’t always expect a lot. If you can deliver a website that works and quality products, you can usually attract enough customers to get going. However, there is an entire group of potential customers that do not even know you exist yet because you weren’t able to reach them. Growing your customer base is paramount to scaling your business. Improving your marketing and branding strategies is a perfect way to accomplish these goals.

 

Branding Audit

 

When it comes to reinvesting your profits, you need a plan. Chances are, there are a number of things about your company you would like to improve. It will be tempting to chase something shiny like a brand new website that will impress your network and prove how well you are doing. However, you need to take a step back and look at the whole picture. You have a limited amount of dollars to spend, and you need to get the most bang for your buck.

 

The first step is to view all of your marketing channels, including website, social media, content, and advertising. Where are your customers interacting with your brand? For example, if you sell products on your website, then you may want to look into how to improve the user experience. However, if you are engaging with them on social media, you can spend money on a designer or copywriter to create better content. The key is to figure out what upgrade is going to please your customer base and increase sales.

 

Request Feedback

 

Another useful tactic is to request feedback from others about where you can improve your marketing and branding. The final decision will lie with you, but it may be useful to seek the help of customers and people in your network that you trust. They will be able to give an honest, unbiased assessment of where your branding excels and where it falls short. Prepare to have a thick skin as they will most likely provide criticism you may not want to hear.

 

We suggest creating a survey for your customers to take. Each person who answers your questionnaire can receive a discount on their next order or will be eligible to win a prize. As for your network, we advise reaching out to other business owners and marketing professionals. Be sure to explain your business, target audience, objectives, and goals. This will help them understand what you are trying to accomplish and ensure they provide the proper feedback.

 

Website Redesign

 

Believe it or not, most small business owners do not care for the first version of their website. It’s usually a case of needing something cheap and quick with the idea it will be improved upon as your company grows. As long as your first iteration allows customers to read about who you are, what you sell, and are able to buy your products, you should be okay. During your branding audit, you should be checking on your past website traffic. Specifically, how many visitors you are getting and if they are leaving your site before taking the action you desire.

 

When considering a website redesign, the first thing to check is the page speed using a tool like WP Engine to ensure your site is performing at an acceptable level. Then, you want to look at how you can improve upon the structure of the site and how you present your information. A standard web developer can help you add elements to your website such as pop-ups, banners, sliders, and more. An engaging website will impress your customers and motivate them to purchase from you instead of your competitors.

 

Content Strategy

 

Marketing professionals are often quoted saying that content is king. This is true because customers love content that provides free and useful information about your brand. They do not want to be sold to every time they see your brand. Content allows you to position yourself as an expert in the eyes of the consumer. Once they trust you, they will be more likely to buy from you. If crafted correctly, a well-executed content strategy could be what your brand needs to increase its reach and improve sales.

 

A common trap new business owners fall into is thinking they can write their content themselves. Just because you came up with the idea does not mean you know how to write engaging copy. Plus, content strategy is about much more than just explaining your brand. It is consistently producing relatable content that oftentimes never even mentions your company directly. By hiring a professional copywriter, they will be able to provide consistently high-quality content in the form of blog posts, case studies, infographics, and more.

 

Graphic Design

 

The need for professional graphic design has been up to debate thanks to image creation platforms that provide ready-made images for you to use. The allure of simply typing in your information and then downloading the image to your computer is exciting for any time-strapped business owner. However, these types of services are only going to take you so far. Eventually, you need to move on from these basic designs and create your own unique brand presence.

 

A graphic designer is valuable on several many levels. First, they can create branding guidelines to ensure everything you produce is consistent and professional. Second, they can create unique designs based on your brand, instead of one-size-fits-all templates that were made for everyone to use. Your graphic designer can create images for your website, social channels, and sales materials. This type of investment into your branding will help your company look professional and stand out as you begin to move to the next phase of your business.

 

Conclusion

 

When the time comes, you must be ready to take your branding efforts to the next level. Items such as your website, content, and imagery are seen every day by customers you want to return and prospects you want to convert. The types of investments listed about will add a layer of professionalism to your brand and tell the world that it needs to take your company seriously.

 

Let’s Talk

 

Ready to reinvest in your brand but not sure where to start? We are here to help!

Please email us at contact@360gatewaybrands.com to sign up for your FREE introductory call.