At its heart, our work is about strengthening customer and employee loyalty by realigning your company’s brand touchpoints with its brand promise. It’s an investment with results you can see, through reduced complaints and increased positive ratings – and ultimately, in improvements to your bottom line.
The long game
A brand is people’s perception of your business. Though intangible, it has real value. As of March 2022, Amazon market capitalization was $1.56 trillion16. Of that amount, their brand was worth $249 billion17. Brand value takes time to build, but in business, the long game is the one you want to play. While the short term results can be dramatic, long term, our work will contribute to the value of your brand and increase the worth of your business.
The shorter game
Short term, you’ll see real benefit from working with us—think an uptick in positive reviews, improved employee engagement, and decreased complaints and customer dissatisfaction. In short, aligning your brand touchpoints with your company’s brand promise can improve your bottom line. For example, if your company has a gross annual revenue of $3 Million, the total return generated by our services alone would be $270,000 every year. Here’s how it adds up:
1. CUSTOMER PRIDE.
Happy customers love to share their experiences. If 100 satisfied customers spread the word, and even one percent of their online and word-of-mouth referrals generate new business, the result is roughly $30,000 a year.
2. STAFF PRIDE.
Happy employees arrive earlier, put in more effort, provide better service, and stay later. They also display more company loyalty, reducing turnover and training costs. If, in an eight-hour shift, an employee works 10 minutes harder or smarter, this results in a two percent impact. That’s $60,000 per year.
3. INCREASED CONFIDENCE BUILDS TRUST.
A political candidate trusted by constituents is able to attract 12% more votes. If we apply these metrics to business, a trusted brand is likely to convert 12% more prospective customers. Conservatively, if we reduce that amount to three percent, that earns $90,000 a year for your business.
4. BRAND RECOGNITION.
A strong brand identity results in higher sales. The industry average marketing budget is seven percent of a company’s total budget. With strong brand recognition, however, you may be able to reduce your spending by one percent and achieve the same results. You’ll save $30,000 annually.
5. HIGHER PERCEIVED VALUE.
A professional-looking brand with strong recognition is able to charge more because customers believe it to be worth the cost. As a brand with a high perceived value, you would be able to increase the price of your product by a modest two percent, earning you $60,000 a year.
ANNUAL RETURN GENERATED BY OUR SERVICES STARTS AT $270,000 PER YEAR16
Your ROI will be even juicier when you align your brand touchpoints with your company’s brand promise and redirect some of your current spending on marketing, advertising, and recruitment.
Make smarter use of your money
ADJUST YOUR MARKETING BUDGET.
Referrals and the decision to return are made by your customer at your hotel or resort – that’s after they’ve already made their purchase. But the majority of marketing budgets invest 76% in the pre-purchase phase while dedicating only 7%18 to the crucial post-purchase phase. It’s time to rethink this approach. New business can fuel a company for a short period of time, but retention is essential for a brand to thrive. Research shows companies that keep just 5% more customers see up to a 95% increase in profits19 – meaning customer retention isn’t just a consideration, it’s one of the most impactful things your brand can do to be successful long term.
RETHINK YOUR ADVERTISING.
While it’s common for many companies to allocate a portion of their budget to advertising, the investment may not pay off. 65% of U.S. customers said a positive experience with a brand is more influential than great advertising20.
WIN BACK YOUR MONEY.
It is standard practice for companies to focus on winning back disengaged customers through retargeting campaigns, but this can be costly. A smarter practice is to prevent customers from becoming dissatisfied in the first place.
CUT EMPLOYEE ACQUISITION COSTS.
Hiring and onboarding costs can cut into your annual profits. Preventing excessive turnover and retaining your best employees can result in substantial savings. Our employee interviews provide employees with an opportunity to contribute their unique perspectives. Employees tell us that our process makes them feel heard, valued, and respected. This key piece of our service improves employee engagement and satisfaction while also saving you money.
Save big with good reviews
One out of 10 potential customers will choose not to do business with you because of a bad review21. If 1,000 people read that bad review, that’s 100 potential customers lost. If your average sale is $500, that’s a loss of $50,000 per year – on one bad review. Imagine if you had 10, 20, or 30 bad reviews: suddenly you’re missing out on a huge sum of income. It’s not just losing that initial sale, though. You also lose all of the revenue that new customer would have generated over time with repeat business and bringing you new customers through positive reviews and referrals. Through our services, we eliminate your bad reviews before they happen.
