Knowing what ROB is is essential if you want to really know how successful your brand is. The acronym ROB responds to the English term “Return of Brand” . Usually the custom is to read about ROI . But ROB is of increasing importance in the financial return of an organization.
The ROI concept focuses on return on investment. This is the economic result generated by the different marketing activities. The ROB, for its part, deals with a dimension of the brand that goes far beyond economics.
Defining a little more in detail what ROB is, it can be said that it is a much easier concept to measure and improve. The return on the brand or ROB mainly affects the business process.
Knowing what ROB is is important because, ultimately, it is the value of the brand itself . It is about the apparently intangible. But this aspect of digital marketing also has a value, an economic return in the long run.
Learn what ROB is in brand building
To know what ROB is, it is important to know what brands are built on . What has to do with many factors. One of the main ones is that it is built through interaction with your organization . But also managing that interaction and customer experience are key elements in brand building.
To better understand how ROB works and what it is, you can use Adidas sneakers as an example. As you know, there are sports models that can cost € 500. It is almost certain that the reason for buying sneakers at this price is their value as a brand, since there are other much cheaper options with the same quality of material.
Adidas could not sell sneakers like this if it were not for its brand value. This is the return of the brand. This concept creates a universe of added values around the product. This world of intangibles make the product attractive enough to pay for the product for its added value.
Knowing what ROB is offers a clearer view of what a product really is worth, which is not just its economic value. They are all those values, ideas or ways of life that are associated with the brand. The price is only the consequence of that brand return.
The key to generating a ROB and that it increases with time goes through the construction of a solid brand of the product or service.
How to measure ROB
A key element in measuring ROB is the impact of brand value on the performance of marketing actions . Brand equity is a set of assets or liabilities. These elements are built through branding and brand image. Its result is to create affinity and connection between the brand and the consumers, generating customer loyalty.
Brand building efficiency will add or detract from the current product or service and ROB. Therefore, brand building is key in the management, not only of marketing, but also of the commercial strategy of any company.
Brand value recognition
In the late 1980s, brand equity helped create and support the idea that brands are assets that drive business performance over time. This idea made it necessary to consider what marketing does, who does it and what role it plays in business strategy.
Brand equity also altered brand perception by demonstrating that a branding strategy is not only a tactical aid in generating short-term sales . This value is also a strategic support that will add long-term value to the organization.
Keys to building a brand
Building a successful brand is more than designing an attractive logo . To understand what ROB is, you must understand the elements that make up a brand for its correct construction:
A.- Brand image
The good return of a brand will be determined by its visual appearance. In this visual and tangible aspect many elements are identified. The logo is the graphic representation of the brand as well as its typographic part or its color palette .
Everything communicates. Therefore, the choice of the typographic image should be in line with the brand concept you want to project.
Attached to the part of the logo is the choice of name or naming. Like the logo in its graphic representation, naming should project the essence of your organization .
The choice of the brand name is absolutely strategic. Therefore, it is one of the elements that will favor an increase in ROB. The most basic aspects are that naming is easy to pronounce and remember.
C.- Isotype or imagotype
In addition to the logo, there are other elements that make up the graphic image of the brand. One of them is the isotype. Organizations that have worked exceptionally on their brand are often recognized simply for their icon, as is the case with Nike.
On the other hand, the logo and isotype can sometimes be presented as a joint element: the isologist . You can see an example in the Levi´s brand.
Another more permeable variant of this graphic presentation is that of the imagotype. In this case, the logo and isotype appear together but can each be separated. It could be the case of the Toyota brand.
In addition to all this part where the brand is typographically and iconically represented, the choice of color is also important. For the choice of the color range of a brand it is important that the psychology of color is taken into account .
Colors also communicate. In fact, they have ideas associated with them. For this reason, some are more indicated than others to communicate brands from different sectors.
The branding is responsible for feeding the brand endowing a series of added values that will be linked to the product or service organization and the brand itself.
Branding is the emotional part of the brand . Herein lies the soul of the brand and it is what should be projected to the target audience. To understand what ROB is and the most optimal way to achieve it, it is important to note that the visual elements of a brand are only half the story.
Less tangible assets are built through brand narration. The best strategy is to know the emotional threads of your customer profile and tell them your story through channels and in a language with which they feel identified.
How to be a successful brand with the best ROB
1.- Use a correct motto
To get an appropriate slogan, one of the formulas is to answer this question: “ What is the emotional reaction you want your audience to have when involving the brand and what do you want them to remember? “
2.- Differentiate yourself from the competition
For this it is important that you know your target audience thoroughly. Knowing the profile of your buyer person will help you to make a more accurate branding. At the same time, it is important that you direct your attention to the competition at this point.
It is necessary to investigate what your main competitors are doing in terms of brand identity and how they express themselves through it. Identify the points in common with the competition and, at the same time, those where you can innovate and differentiate yourself from it.
3.- The brand as the center
To build a successful strategy that rewards us with a good ROB, the brand must be the center of all other actions. The actions in advertising, marketing, public relations etc. they must be aligned and coordinated around the brand.
4.- Univocal voice
The brand must express itself with a unique personality. For this, you should not only use a cohesive corporate image. The projection of the brand is also expressed in the way and tone of writing of the messages in social networks and campaigns. The essence of the brand must be expressed through a language that represents it.
Parameters to value a brand
Another element that will help you know what ROB is is knowing how a brand is valued. In fact, brands will be the main drivers of corporate value in the 21st century.
This is something that investors and business leaders are currently recognizing. Financial managers and planners increasingly use brand value monitoring models. The best rated brands do not have to be the largest or strongest organizations on the market.
A.- Do what you promise
The star characteristic for a brand to be valued is that it fulfill what it promises. And, also, that it is coherent with what it projects. This is a great opportunity for small organizations. Any organization can create a great brand regardless of size and resources .
The larger, more complex and global an organization is, the more difficult it will be to remain faithful. It will also be more difficult to guarantee what is promised.
B.- It provides economic and emotional value
There is a direct relationship between the economic value of a brand and its emotional value . The most valued brands that have significant emotional and financial value are those that deliver on what they promise.