The Branding vs Profit debacle has always been a fight between two giants.
Branding on the one side, is extremely important. Getting your product recognised enough to generate profits.
Profit on the other hand, is the bloodline of a business. WIthout Revenue, the business has no chance of succeeding.
Profits enable Branding, and Branding boosts Profits.
The argument pitting Better branding against better Profits, is not as black and White as it seems. The Concept of making less profit, because of spending alot on branding is not one that appeals to everyone.
But what those naysayers do not realise, is that by pouring 50% of your profit back into branding, you can exponentially grow your stake in the market. This in turn means that the next profits will be even greater. Brand building should not be seen as an expense, rather a re-investment in your business.
Branding is not just Banner ads and billboards anymore. Most people don’t even see these anymore, much less intensively read them. Branding needs to happen where everyone’s attention is. Online.
Branding and Media is everywhere. Profits are needed everywhere.
Profits are very important. But if you do not spend at least 50% of your profits on Branding in at least your first 2 years, you will never experience the growth that can build you an empire.
A sure-fire way to ensure that you get the most out of your Branding budget, is to partner with a social Media company who did the legwork for you. Experienced Brand Building companies can maximize your input to a far greater extent than you personally every could.
Take your time. Shop around. Make sure to partner with a company who wants you to succeed.