[MUSIC PLAYING] Branding is essential. Branding helps customers choose your product on a shelf versus a competitor. A recent study reported by Forbes stated that consistent branding across all channels can increase revenue 23%. It helps customers remember you when they need to restock their supply. It takes five to seven interactions with your brand before a customer can remember your name. It's what helps sell your product without you having to push it.
People know, like, and trust you based on the way you brand yourself. Your brand can turn a one-time customer into a lifelong customer. Through the tough times of business, my brand has helped me push through. In this module, I want to help you do the same. I want to tell you a quick story about how branding has made a big impact on my business. A couple years into the business, sales were growing. We started to get into some retail stores but weren't quite getting over the finish line with all the retail stores we wanted to be in.
And we were also starting to get bigger attention about potential sponsorship opportunities. Lots of things were starting to shift because as we grew in popularity, demand for us was higher. But we were having trouble closing the opportunities. So my good friend, Robert Andrews from college, gave me some great advice. He said, "Yeah, Mike, you've got this great product. Everybody loves it!
But that can only take you so far because people can't see with their taste buds. It's got to be something that's going to stand out." And so he said, this is a great brand and logo for your first attempt. But in order for us to go to the next level, we need to adjust this. And so he helped me understand the value of getting help from branding experts to help with a new logo and brand to start standing out. And then once that happened, some of those retail deals we weren't getting, we started to get because there was a difference in how the brand was presented on the labels, that stores could say, oh, that can stand out.
Let's go ahead and bring that product in. So I guess you could say that the value of branding is that it's truly priceless and absolutely worth your time. In the next lesson, I'll give you practical tips for branding that I learned from my early days of getting started.
