Think BIG

How you think about your brand is a good indicator as to how successful you will be at growing it.

If you want to build a successful brand - a brand that attracts customers, sales, profits and growth there is a key ingredient that is needed if you are to accomplish your goals.

That critical thing is, that you need to think BIG.

If you embark on your marketing journey by being conservative; spending to little money on design, production and media; opting for social media without mass media coverage...or just limiting your perspective on what's possible. The chances of failure will be high. Nothing great was ever created with a mindset that was fearful.

Brands grow because the people that build them set out to conquer the market entirely. They believe so much in their brand that it confuses them as to why on earth anyone would choose to buy from their competitors, which is why they make big moves to capture as much marketshare as possible.

Winners don't pitch to a game just to make up the numbers - they go out there to win. They aspire to attract every single customer available in the category. They do crazy things like buy $7million Superbowl ads, they hire a Kardashian as a spokesperson, they invest a lot of money in standing out, generating interest and making a name for themselves.

Small brands don't set out to win. Small brands die - it's only a matter of time before statistics swallows them up.

Experts mostly agree that on average for established businesses, you need to invest at least 5% - 8% (preferable 12%) of your annual turnover back into actively building your brand. That means that if your annual turnover is R250million you should be spending at least R20million on marketing. Without spending that you are not securing future sales for the business and any under investment will result in decreasing marketshare within the category.

Progress then requires big ideas, big aspirations, a strong desire to move forward, push boundaries and take on the world.

If you look at your marketing function and don't immediately feel overwhelmed with the boldness and audacity of the thinking and attitude, change it. Be bold, think BIG.

Make 2024 the year of outperformance

Jon Cherry is a strategic growth facilitator who works with organisations to build brands and ventures that deliver outperformance.

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Only losers build small brands
Build a growing brand or face the inevitability of your death.