How do you strike the right balance between brand marketing and performance marketing?
Anusha | February 17, 2022
With increasing pressure on marketers to deliver more results with less budget, striking the perfect balance between investing in targeted short- and long-term activities seems to be a real conundrum.
Running a bunch of ads everywhere can reflect immediate results in sales and revenue, but it won’t necessarily help you build your brand. To understand how to create a functional plan, let’s first look at the key differences between the two.
Simply put, a brand is everything people think about a company or product. It’s really about feelings and perceptions about your organization or the products and services you sell, and it takes years, if not decades, to build. The problem is that you don’t have years, let alone decades, because your business and earnings goals for this quarter and financial year are already clear. This is where performance marketing comes in.
Let’s look at the potential ways to strike the right balance in marketing i.e between brand marketing and performance marketing.
Here are 3 key tips while analyzing and measuring your marketing campaigns:
Branding is important in the long term!
If you think about the future success of your business, quick, short-term wins of effective marketing can only get you there. been up to now. But if a new organization enters the market, it is also necessary to allocate some of your budget to the branding aspect of your marketing strategy to ensure long-term growth. By investing in branding, you’re investing in the future of your business and improving the quality of future conversions.
Striking the right balance requires data-driven insights.
When deciding how to budget, remember to consider the entire customer journey and the entire sales funnel, from awareness to thinking and buying stages. But also think about what you want to achieve in the coming months or even years, and try to gather the right information that will help you chart the right path. Only when you have data that paints the big picture of your brand campaigns and performance can you make the right decisions.
There are many ways to measure success for every marketing campaign.
Identify the right KPIs for brand marketing and performance define what success looks like for each of these two activities separately and for your marketing in general. From voice, brand lift, reach, and NPS on the brand side, to CPC, cost per conversion, CLTV and more on the performance side, just when you combine all these factors from The more channels you use, you get the full picture of your marketing performance and ROI.
If you want to learn more about using data to understand both the art and science of brand marketing and performance,
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