In one my previous posts I did mention that ROI now has multifaceted meanings and implications for brands, either personal or corporate. In that said post, I did not give full detail on what each meant. In this piece I intend to make further clarification on how brand owner, drivers can enhance their brands’ returns through proper understanding and utilization of each. So let us examine each in the light of the above.
1. Returns on investment: This is the commonest and old use of the term. This has been with us as long as the society began. It is often calculated in terms of Naira and kobo. If brand equates and values every investment in terms of Naira and kobo, it may not always be to its advantage.
2. Returns on information: Every brand needs to be listed on information stock exchange market. Information is important to brand’s success. Being in command of relevant information, acting on it first as well as making it available to the niche is very important. If your competitors usually get to broker the information first, your client may assume you are already sleeping and eventually your brand may become irrelevant. Being active on information stock exchange market around the world through content marketing, online, offline community places a brand at a better advantage.
3. Returns on ideas: sequel to the above, a brand needs to constantly trade with new ideas that will promote easy access to brand, innovations that will reduce time wastages among several other benefits.
4. Returns on impression- dressing, speech, write ups, association with certain individuals, brands etc. This basically has to do with personal brands. With corporate, product brands, packaging, office environment, interiors play a major role in creating strong impression that yields greater dividends.
4. Returns on influence- community, leadership: Brand’s active participation in Information stock exchange market as well as community building often lead to influence. The information stock exchange market often promotes brand’s influence which will definitely bring a return in the followings areas: positive word of mouths, loyalty, advocacy etc that is if it s properly done.
5. Returns on impacts: returns on influence will enhance returns on impacts made
6. Returns on Interaction: Building relationship is important to brand’s success. But real relationship begins with casual contacts, interaction. Many casual interactions may not lead to long lasting relationship even though this should be aimed. But when a casual interaction is done well today, brand can benefit from it tomorrow.
7. Returns on influence of Interactions: Make every contact and interaction count. This will guarantee adequate returns for the brand. R.O. I.I should guide all your brand’s online presence, designs, physical outlook, choice of points of contact staff, internal branding efforts etc It guarantees huge revenue.
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Where are you from? Is it a secret?
Dirnov
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