Marketers are now required to deliver better results with less budget. Therefore, marketers need to focus on striking a balance between encouraging sales in the short term and building long-term strategies. Displaying ads everywhere is not enough to build a brand. Marketers need to figure out what works for their business and design an operational plan to increase brand awareness.
Creating a positive brand image is crucial because it relates to how people perceive your company and products. Sometimes it takes years to build a positive image and gain people’s trust. This is where the role of performance marketing matters for organizations.
Performance marketing is specifically used by businesses to increase the ROI of each campaign, drive actions and also track and measure marketing activities and campaigns. Many companies, therefore, spend a lot of time and money on branding and performance marketing.
Focusing on increasing brand awareness is vital for businesses, especially in the saturated brand market. Brand awareness can be increase through various ways such as advertising, social media campaigns, content marketing and more. While some of these fall under performance marketing as they are measurable, advertisers are only required to pay for specific actions.
Companies can face various problems with both brand-heavy websites and performance-heavy websites. Therefore, many marketers are now taking initiatives to create a balanced marketing mix and build a positive brand image with a short-term and long-term focus.
Tips To Balance The Needs Of Brand And Performance Marketing For Business
There are severe costs associated with marketing, and businesses should take advantage of all the possible opportunities and work towards building a solid brand image. Few marketing channels are an excellent way for businesses to accomplish their marketing goals.
The following are few tips to balance brand and performance marketing:
Focus On Brand Building
When a business is new to the market, they need to focus on brand building mainly. Allocating some budget to the branding side of your marketing is essential for the company’s long-term growth. Therefore, investing in brand building ultimately leads to investing in the future of your business.
Share Your Brand Goals With The Marketing Team
Marketing channels are one of the great sources to help companies accomplish their brand goals. However, it is crucial to ensure that the marketing team is aware of the brand goals to design sound marketing strategies by incorporating appropriate language and its goals in the ad for a successful ad campaign.
Use Data-driven Insights
When deciding on allocating budget, business owners need to access customers data and analyze customers journey along with the complete sales funnel right from the brand’s awareness till the purchase phase and get insights on customer behaviour with your brand.
Businesses can use these data-driven insights to get a complete picture of brand performance and how well the campaigns work to make more informed decisions.
Use Right Channels To Spread Brand Messages
Many channels are available for marketers to do branding and promote their products. However, choosing the right channel for creating brand awareness is crucial to convey brand messages. Affiliate channels, for instance, can be more effective for businesses to put the brand messages in front of influential bloggers and helps them invest in quality management highlighting the brand.
Educate Employees About SEO
SEO is one of the specialized areas used by businesses for performance marketing. Companies need to ensure that everyone involved in website designing and content creation is aware of search engine optimization and makes search engines tick to improve the website rank. This is help improve the team’s branding efforts.
Measure The Performance Of Campaigns
Businesses need to set the right KPIs for performance marketing to understand how well the campaign is performing. They can access the brand’s reach, cost per conversion, brand lift, and many other campaign elements and its performance. Combining all the channels used for marketing helps them to measure the effectiveness of the campaign.
By following these tips, businesses can go a long way to accomplish their goals. However, it is vital to include both branding and performance marketing in the digital strategy of the organization to outline all the online activities and consumer behaviour.
The ultimate goal of any marketing campaign of a business organization is to drive success. Therefore, companies need to craft and design sound marketing strategies to build a positive brand image and a robust online presence to increase their reach.
To instil long-term customer loyalty and reach customer expectations, businesses need to include the right marketing mix and balance both branding and performance marketing to build a positive brand image and create a lasting impact in the market.