Many companies wonder how to find the right balance between brand and performance marketing. Some startups believe that performance marketing is more important than brand building, as it often delivers quicker and measurable results. Despite having a common goal, performance and brand marketing serve slightly different purposes. While one could exist without the other, we believe very strongly that they shouldn’t..
Performance marketing can be defined as any initiative that prompts people to take an action that can be measured and analyzed in relation to specific business KPIs. Performance marketing can relatively quickly help businesses to generate desired leads, sales or traffic. It gives immediate, but rather short-term, results. By contrast, brand marketing focuses on creating a visual identity, values and personality and enables building long-term relationships with the audience.
Plenty of businesses around the world, small and large, underestimate the power of brand marketing. The truth is that while performance marketing provides short-terms gains, it will never achieve what brand building can, namely building long-lasting customer loyalty and achieving a strong market position. We’ve shared our thoughts on a holistic approach to marketing before, and the same principle applies here: the two types of marketing are interdependent. A strong brand will help you gain and retain loyal customers, while performance marketing helps you reinforce that brand.
In order to maximize the full potential of your marketing campaigns, you need to find the sweet spot between developing both brand and performance strategies. Let’s see how these two can complement each other.
How do brand and performance work together?
Let’s imagine you’re starting your first performance campaign. To find out what advertising platforms to use, you need to know your target audience. What social media channels do people who might use your product like, and what kind of information do they search for? It’s also essential to specify the demographics to set up the campaigns appropriately. Part of the brand manager’s job is to gather all this data as well as conducting regular market research, analyzing competitors and creating user personas to fully understand customers’ needs.
Another thing to consider when launching your performance campaign is the creative you’re going to promote. How should your ad look to attract the right people? What colours, fonts, styles of images, and formats will resonate with potential customers? All this information should be determined by the brand managers and designers who are responsible for creating a visual identity. It’s common to test different approaches during a campaign, but it’s also essential to stick to the overall brand guidelines.
The next crucial element needed to create a well-performing online campaign is communication and relevant messaging. It’s vital to grab users’ attention and some ‘sexy copy’ can boost your chances of achieving that. A perfect message resonates with the audience, encourages them to stop for a second, engage and finally respond to the catchy Call To Action (CTA) and convert. Setting up communication guidelines and working closely with copywriters and content specialists is the main part of the brand team’s responsibilities.
Finally, once the campaign is ready to launch, both teams should work together to analyze the performance and discuss visual adaptations. You might need to create several different versions for one ad to see which angle works better. To continuously develop new concepts and different formats, you need to set up regular brainstorming sessions between the brand and the performance team.
The goal of the entire marketing strategy should be to create a feeling of consistency across all channels. So when new users land on the website or visit the blog, they see the connection between what attracted them in the first place and what is presented to them later.
You can already see the potential of brand and performance collaboration when it comes to launching just a single online campaign. The power of combining these two marketing strategies shouldn’t be underestimated, and you needn’t worry about them competing with each other. In our opinion, brand vs. performance is a myth, and as long as time and patience are taken to nurture a smooth relationship between them, this cooperation is sure to pay off.
To summarize, performance marketing does a great job of bringing more people to the table, but brand marketing is needed to feed them well and make sure they come back for seconds. 🙂
If you have any questions about how to combine your performance and brand strategies, shoot us a message, and we’ll walk you through it.