Categories
Business Marketing

Building a Strong, Cohesive Brand for Your Business

Every business has its own unique mission, brand voice, and goals. Knowing how your business differentiates from competitors is an important step, but knowing how to clearly communicate that to your consumers is what really sets your business apart. Successful businesses must not only build a strong brand, but they must also take a cohesive approach to their branding. 

What is cohesive branding?

Cohesive branding is showing consistency in your brand across all platforms to ensure that your business is immediately recognizable to consumers. Your audience may encounter your brand in various places such as your website, social media channels, landing page, digital ads, commercials, brochures, etc. To resonate with consumers, a strong brand must keep the same tone of voice, colors, graphics, and fonts consistent across all marketing platforms and materials.

Why a cohesive brand strategy matters

  1. Makes a positive first impression
  1. Creates a memorable brand
  1. Increases trust in your brand
  1. Builds brand recognition
  1. Increases conversions and sales

Building a cohesive brand marketing strategy is crucial in a competitive marketplace. If a business fails to communicate consistent branding to its audience, you could leave prospects feeling confused with who you are and what you do. Strong, consistent branding builds recognition, trust, and credibility for your business.

Everything you need under one roof

If you are looking to build and strengthen your brand the right way, partnering with Spectruss could be exactly what your business needs!

Spectruss is a full-service, all in-house marketing agency with over 10 years of experience working with numerous brands and businesses in various industries. We are a team of specialized individuals whose mission is to create stronger, more cohesive brands for businesses.

As a full-service, all in-house agency, we offer everything your business needs for branding, marketing, promotions, and advertising under one umbrella. This not only keeps your brand consistent, but it also saves your business both time and money.

Capabilities:

We tailor our services and packages specifically for each business based on their unique needs and goals!

Strengthening your brand during COVID-19

Creating a cohesive brand that consumers trust is crucial to the success of a business, especially during uncertain times. Through strategic brand marketing strategies, we helped our client, Refine Aesthetic Studio, continue to grow during the global pandemic. In four months during COVID-19, we increased the number of consultations and booked appointments by 90.2%!

If you’d like to learn more about how Spectruss can help strengthen your brand, give us shout! We’d love to talk with you.

Categories
Business Digital Marketing

How Much Should Your Business Spend on Advertising?

Great advertising and marketing are crucial to the success of a business. In recent years, digital advertising has seen significant growth, making it more important than ever for companies to have a strong online strategy in place. So how much should your company spend on advertising and where should that money be invested?

What should be your budget?

The average marketing and advertising budget for a business is 10% of its gross revenue. However, advertising spend isn’t a one-size-fits-all equation. Determining the best advertising budget for your business depends on your industry, company size, company history, existing digital presence, and goals.

1. New Businesses

For first-year businesses, it takes more marketing capital to get off the ground. New businesses need to invest heavily in brand awareness to gain customer trust and a market voice. 

Percentage: 12-20%

Variables: Some industries are more competitive than others. It is crucial to conduct in-depth market research to understand your audience and competition. The level of competition will help you determine how much to spend in ad dollars.

2. Established Businesses

Percentage: 6-12%

Variables: Competiton and profit margin are two important factors for determining your advertising budget. The higher your profit margin, the more you can afford to spend on marketing and advertising. 

If you are a smaller company doing less than $5 million in sales, the U.S. Small Business Administration recommends spending around 7-8% of your gross revenue on marketing. 

Where should you invest your ad dollars?

To properly allocate your ad dollars and maximize your ROI, businesses must pay close attention to industry trends, competitors, and consumer behavior.

In 2019, over $100 billion was spent on search marketing, display advertising, social media, and email marketing. For the first time ever, digital marketing spend surpassed traditional advertising spend (TV, print, radio, etc.). While traditional advertising is still a relevant means of marketing, digital advertising is projected to continue to dominate in the coming years.

How should you spend in a recession?

As the COVID-19 pandemic continues to cause economic uncertainty in the United States, businesses need to remain calm and reframe from slashing their advertising budget.

During a recession, there is less competition and noise. While other businesses are quiet, your customers are more likely to hear your brand voice above the rest. In addition to this, less competition means cheaper ad costs. When the economy improves, your business can emerge as a market leader having acquired a substantial customer base at a lower cost.

“A man who stops advertising to save money is like a man who stops a clock to save time” -Henry Ford