Your branding journey.
Let's get personal. I've covered in Parts 1 and 2 the importance of branding and what branding looks like—but what does branding look like specifically for YOU and your biz? Do you even need a brand update?
Honestly, only you can answer those questions. But I do have some questions for you that'll hopefully help you figure it out. First, let's take a quick look at the financial implications a new brand would have on your business (because at the end of the day, it boils down to how much money you're making):
1. What is the value of one customer to you? In other words, what does one new customer make you in additional income? What's it worth to you to pick up that one new client? For example: $300.
2. Do you believe that new and better branding for your business will result in drawing in at least one new customer a month? Of course! At LEAST one, hopefully more!
3. How does that increase your income in a year's time? That's an additional $3600 a year.
4. What kind of an investment is it going to take for you to use the designer of your choice and update all of the branding components you want? If I were to get a new logo and some collateral pieces as well as graphics for social media... it'll run me around $800.
4. How quickly will you be able to see a return on that investment based on just one new customer per month? About three months.
If you're able to justify investing in your brand and increasing your revenue, then you're ready to take a survey of your current brand to really see if you need that image update.
Below is a helpful little questionnaire that you can download and fill out. File it in your notebook, hang it up on your board, keep it in a place that'll remind you of one of the most important things you can do for your business—THIS year (2015 just started—you have plenty of time to save!).
If you're ready to start working with a designer but have no idea what that process looks like, check out my free eBook here. You need to take as much mystery out of the whole branding process as possible, because remember—this is supposed to be the FUN part of establishing your business.
Comment below if you have anything to add to the Brand Yourself conversation! I want to hear what YOU think about branding, what it means for your business, and what branding adventures you're looking forward to in the future!