Making a Business Case for Branding That Aligns with the Priorities of Your Sales and Finance Colleagues.

Let me start by saying that every organization should be prioritizing sales, serving their clients, and fiscal discipline. It doesn't matter if you're a startup in scaling mode after closing a recent round of fundraising or a Fortune 500 company.

However, when managing your company's balance sheet with the intention of being a good steward of your capital on hand, how do you make a compelling business case for something as subjective as branding?

As a marketing leader, it is particularly challenging today in the face of more complex and lengthy selling cycles with multiple stakeholders that require more time and resources dedicated to closing existing opportunities. It’s always going to be easier to make room in your budget for priorities your leadership team can easily report on and understand, like establishing referral channel partnerships and enhancing your offering to improve your value proposition, to impact moving opportunities through your sales pipeline.

With solution providers suggesting they are able to offer low-budget, silver-bullet tactics that sound appealing and look good on paper, how can you advocate for branding investments to your sales and finance colleagues?

? The good news is that a robust brand not only enhances your marketing strategy but can also lower your customer acquisition cost and extend the customer lifetime value of your existing clients.

As a marketing leader, the first step to making a case for investing in your brand is to put yourself in the shoes of your sales and finance leaders. You can do so by framing your business case in terms that speak to their areas of responsibility.

Consider your sales team. They face complex sales cycles and have revenue growth targets to meet. They are held accountable for realized revenue and opportunities, not just leads. Explain how a strong brand can support their efforts at each stage of the sales cycle:

1. Prospecting: A recognizable brand generates interest and attracts potential customers.
2. Connecting: A relatable brand resonates emotionally, making establishing rapport with prospects a lot easier.
3. Pitching: A clear brand articulates a compelling value proposition that enhances sales presentations.
4. Overcoming objections: A reputable brand mitigates skepticism and reduces the need for extensive reassurance.
5. Closing (winning): A trusted brand expedites decision-making and boosts the likelihood of a successful sale.

At each stage, a strong brand makes it easier to execute marketing solutions that move opportunities from one deal stage to the next.

Now, let's address the concerns of the finance team, whose responsibilities include:

1. Identifying the capital strategy that's right for your company's life cycle: A strong brand can differentiate your company and attract funding from banks and investors.
2. Tracking and managing the commitments made to capital allocators, from banks to venture capitalists: A well-regarded brand can build trust and credibility, enabling favorable negotiations.
3. Managing cash flow: A compelling brand can enhance customer loyalty and repeat business, resulting in more predictable cash inflows.
4. Ensuring liquidity: A strong brand can improve sales velocity and reduce working capital needs, maintaining liquidity.
5. Managing your cash position and burn rate: By enhancing customer retention and optimizing marketing expenses, a robust brand can optimize cash position and your burn rate.

As a marketing leader, it's your job to help your colleagues understand how this investment in branding supports your sales team's effort to drive revenue when the investment needs to be made, the payment terms, and how the investment will accrue to your spending needs.

It's worth noting that, in general, extending your leadership team's focus beyond sales and revenue to areas such as recruiting talent, crisis management, and PR is also important and worth the investment of time and resources to do so.

So, how do you make a tactical business case?

• I'd recommend meeting with each functional leader from sales and finance to understand their potential objections.
• After you've done so, draft and circulate a memo to your leadership team outlining the business case for the investment you're suggesting and include answers to their objections. I'm a firm believer that you should insist that your marketing partner help craft this memo to ensure they understand what you'll need their help executing post-budget approval and to assess their ability to be a strategic or execution partner. If they can't frame their deliverables in this way, you may need to find a strategic partner who can.

All that being said, while every organization should prioritize sales and fiscal responsibility, it is equally crucial to invest in branding. By understanding the perspectives of your sales and finance colleagues and addressing objections, not only will you be able to be a good partner to the rest of your organization, but you will also be able to confidently advocate for branding investments that drive your business goals forward.