Is branding an investment?
When you talk about the importance of branding or web presence most people consider it an expense. I think they are wrong because it is more of an investment. Why?
Most of the time I talk with people about costs, the common reaction regarding design services (most importantly regarding branding and websites) is that “I cannot spend money on this, as it is not any use, it doesn’t bring me any money.” or “It did not bring any customers it is a waste of money!”
Regarding customers, if it did not bring any customers, something went very wrong. A well made website usually increase interest and joined with a well thought out branding it can double the number of customers easy.
Waste of money: when you buy a car to meet easier with your customers it is a cost (huge cost actually). It is not essential, you can use public transport. But usually people consider the cost of the car as an investment. They can move faster, house to house, and can meet with more customers.
When you buy a stereo system in your shop it is not essential. But the cost of the stereo coming back with the fact, that music makes your customers feel better at your shop and come back with friends.
This same thinking is true with branding, and online presence. People usually search google when they are looking a particular thing. Proven fact, that many do not even bother with a shop close to them, if they cannot have a look what is that product/service is like. They just pick (even if it is farther) where they know exactly what they are in for. Also there is online shopping.
Which logo do you think is better? Most people choose no. 2. Why? Because of the second one is clever and nice to look at. It is a well designed one. While no. 1. is… not. A good branding (logo included) can induce interest and loyalty and a bad one can repel most of your potential customers. In today’s world you have to look good to pick interest. And being good looking needs investment. Designers know this well. That is why the price of a logo could be very high. A small image can attract more income or push away customers.
So my advice is this regarding branding: spend on it as much as possible. You won’t regret it. It is a proven fact, that a good branding can get you customers for long term. A good branding can define why you are better than anybody in your trade. And of course a bad design can drive your business to bankruptcy.