Performance Marketing Vs Brand Marketing - Maintaining The Balance
The majority of the businesses today are familiar with the strategic marketing method for their products and service. It enables successful businesses to distinguish themselves from their competition. Many businesses build their brands with the hope to become the most trusted brand around. So, how do the advertisers or companies know whether to choose performance or brand marketing campaign?
What’s Brand Marketing?
What comes to your mind when you talk about Coke, Apple, and Nike? We all know that these are some big names and we instantly associate Coke for Soda, Apple for Computers and Nike for Footwear. Isn’t it? These companies have the big following, everybody knows their name. The brand marketers strive hard to create an image or familiarity in the minds of their customers’. Brand marketing relies just on that – using the brand to drive their marketing goal.
The company using brand marketing strives in cultivating long-term relations with its loyal audience base. Certain brand marketing strategies include:
· Loyalty programs
· Differentiation from the competition
They rely only on the user experience. Employing the right brand marketing strategy allows your company or brand to design campaigns, which go much beyond showcasing the product features and allow you to show your brand values and intangibles. When done right, these marketing campaigns bring out an emotional reaction from your users that will generate loyalty and repeat business.
What’s Performance Marketing?
Performance marketing includes a better strategy for smaller companies or ones that are starting. As they might not have an established customer base, they cannot rely on the brand to do all talking. Companies using performance marketing will aim for the lead generation and use:
· Email marketing campaigns
· SEM ads
Striking the Right Balance - A Secret for Success
Pointless to say, there’re serious costs when any company is focused heavily either on performance or branding. Top-of-the-funnel branding efforts without any clear path for buying will impact conversion; completely focusing on the bottom of this funnel can impact your capability to grow the business over the long term.
The solution will be finding the right and the delicate balance between both of them to achieve the top level of growth and effectiveness.
This means ensuring brand marketers know the concrete and measurable area of the performance marketing, and the performance marketers know that each moment is a chance of telling your story to connect with your audiences on a deeper level.
Furthermore, brand channels are more measurable than before. Capabilities like programmatic advertising or performance media are optimized for branding by methods like sequential storytelling.
The objective is to combine both the worlds of performance marketing and brand marketing and use this amalgamation to deliver the holistic presence over multiple distribution channels—and a presence that unites common principles. However, that can’t happen without a strong focus and cooperation on the long-term marketing strategy of unification.
At an end of a day, it is all about delivering business results; improving market share; and, imperative, delivering on your consumer expectations just by crafting a strong brand, which connects and instills loyalty in your customers.