Our mates over at Nim Creative wrote this piece, and we just had to share it!
“How will a rebrand increase our ROI?”
This is an all but familiar question we get asked. The answer. If we do our jobs properly and trust the research and development that goes on behind the scenes then we will build a brand that will connect with your customers and communicate your purpose.
Attraction = conversions = increase in ROI.
After a conversation with our social media gurus @sodadigital a bit of light was shone on the performance of a rebrand we created last year. Thought it would be good to share.
Part of the rebrand was to increase exposure across digital platforms and position the brand as a thought leader and an educator. Based on the social performance stats from Dec 2020 - Dec 2021 the digital engagement and net following is up by 30%.
That works out to be 594 new connections (targeted businesses and professionals).
If the sales team have a conversion hit rate of 0.01% in 12 months (the absolute minimum) and the average cost of sale is $400k, the ROI - based on a spend of $40k - would be 1000%.
Now, if their conversion hit rate was 1%, that’s close to 6 new leads (5.94 to be exact). So... $2.376m from a $40k spend.
ROI = 5940%
Obviously, when it comes to branding the return on investment is very speculative, but if we do our job and focus on what a win looks like for you then we will do our very best to create an increase in your ROI. It might now be $2m but it will be relative to your average sale cost.
If you are on the fence about rebrand but you know something needs to happen in order for your business to move up to the next level we would be more than happy to have a chat and see if we are the right fit for your business.
