A Wonderstuff 365 article. Make them count.
As one (financial) year ends…
While managers are focussed on achieving goals for this financial year, most boards – and owners – spend these last months planning the year ahead.
Planning to invest in growth?
Planning usually includes the growth of the organisation, and the resources required to achieve it – with budgets set against typical areas such as Resources, Materials and Costs; in order to establish priorities and set targets in numerical terms, providing direction so that organisational objectives can be turned into practical reality.
So how much have you budgeted for your brands growth?
Brand – and return on investment
Brand is an investment, just as your office and machinery – without them you cannot deliver your service (or product) to your clients. Similarly, you know that investing in a cheap solution now will often lead to headaches later on.
Investing appropriately allows you to focus on delivering the product or service you offer, in the way your clients expect – to enable growth. Your brand – and design – is a tool to help you achieve your goals; and one that’s proven to provide a greater return on investment than almost anything else.
“On average, for every £1 businesses invested in design, they gained over £4 net operating profit, and over £20 net turnover.”
Design Council
Our experience shows that a successful design solution can last around a decade, though the value of names and identities is typically much longer. For the typical investment, that’s incredible value.
How do you measure this ROI?
As with any capital expense, you plan that the investment made will provide return on investment over a period of time (and you’ll often finance it to allow for this), and set some metrics for this to ensure it delivers. Yet many organisations don’t treat design in this way.
The Design Business Associations Design Effectiveness Awards provides a great resource to understand the value for clients (large and small) who do value design, and measure the return on investment.
The key is to spend time during the planning stage understanding what to invest, and what return to expect, over that timescale. And realise that – like any tool – your brand will work for you long after it’s delivered.
If you’d like to know more about brand and using it to grow your organisation, email paul@wonderstuff.co or call and talk to us.
Blog
A Wonderstuff 365 article. Make them count.
As one (financial) year ends…
While managers are focussed on achieving goals for this financial year, most boards – and owners – spend these last months planning the year ahead.
Planning to invest in growth?
Planning usually includes the growth of the organisation, and the resources required to achieve it – with budgets set against typical areas such as Resources, Materials and Costs; in order to establish priorities and set targets in numerical terms, providing direction so that organisational objectives can be turned into practical reality.
Brand – and return on investment
Brand is an investment, just as your office and machinery – without them you cannot deliver your service (or product) to your clients. Similarly, you know that investing in a cheap solution now will often lead to headaches later on.
Investing appropriately allows you to focus on delivering the product or service you offer, in the way your clients expect – to enable growth. Your brand – and design – is a tool to help you achieve your goals; and one that’s proven to provide a greater return on investment than almost anything else.
Our experience shows that a successful design solution can last around a decade, though the value of names and identities is typically much longer. For the typical investment, that’s incredible value.
How do you measure this ROI?
As with any capital expense, you plan that the investment made will provide return on investment over a period of time (and you’ll often finance it to allow for this), and set some metrics for this to ensure it delivers. Yet many organisations don’t treat design in this way.
The key is to spend time during the planning stage understanding what to invest, and what return to expect, over that timescale. And realise that – like any tool – your brand will work for you long after it’s delivered.
If you’d like to know more about brand and using it to grow your organisation, email paul@wonderstuff.co or call and talk to us.
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