Invest in both short-term and long-term growth
The power of brand
So, why is brand important? As a tool for increasing sales, your brand is likely to be one of your most powerful assets. For customers at the evaluation stage of their decision-making process, they are more likely to prefer a brand they can personally resonate or identify with. Strong brands can command a price premium and achieve significantly more operating profit as a proportion of revenue.
Building brands with digital
When we talk about building brands, the first thing that springs to mind might be a 60 second television ad, or a billboard on the side of the highway. However, much “above-the-line” media is now buyable digitally, and increasingly programmatically. The best part is, it’s super effective. In fact, digital has been shown as a more cost-effective method of building brands when compared to traditional channels. Digital media for brands is faster, easier, and more targetable. There’s a lower commitment compared to traditional channels like broadcast TV. It’s agile and measurable.
Getting the balance right
Sustained growth isn’t all about brand building, in fact, it is best realised through a combined effort with direct response activity. These two strategies are proven to work together and improve results over time. Investing in direct response marketing through pay-per-click channels is a vital part of an effective marketing strategy. Research shows that the most effective marketers spend more time, effort, and money on the long-term and less on the short-term. The general rule of thumb is 60:40 (brand awareness marketing vs direct response), however we each need to work out the right balance for our businesses. It will certainly almost be an over index on brand building, and less on sales activation to deliver the best results.
Measuring results the 'right' way
There is no ‘right’ way to measure brand awareness, and the methods we use will depend greatly on your industry, business, and customer type. Rather than using a one size fits all approach, we like to tailor our measurement techniques to your unique brand awareness strategy. From brand uplift surveys to share of search, our brand marketing agency will work with you to ensure that every measurement makes sense.