In the past, branding and performance marketing were separate disciplines. While branding encompasses a company’s visuals, values, and personality, performance marketing generates measurable conversions and revenue.
However, marketers have found it is getting more expensive to acquire customers. According to a study, customer acquisition costs (CAC) have increased by as much as 60% since 2017. As a result, branding and performance marketing objectives are becoming increasingly intertwined, making consistency essential.
Performance branding strategy combines the data-driven aspects of performance-based marketing with traditional branding and integrated media solutions to get more from your branding.
Discover why performance branding is the future of marketing and how it can improve your customer experience and save your business time, energy, and money.
Performance branding helps you promote your company’s unique identity while including the data-driven aspects of performance marketing. These aspects include quantitative data and measurable key performance indicators (KPIs).
Additionally, performance branding means aligning your marketing efforts and branding with the customer journey. For instance, you can create content with clear KPIs and analyze the number of readers viewing your content and buying from you. This data can help refine your storytelling approach to create a cohesive experience.
As the marketing landscape changes, businesses should evolve their offerings to remain competitive. In every digital marketing phase, leaders use technology to generate data and create content with the help of a branding marketing company.
Your organization can benefit from a newer performance branding model when you take note of the following critical changes:
In recent years, traditional advertising has become increasingly measurable and optimized at the household or personal level. For example, with the help of automatic content recognition (ACR), many smart TVs can track everything consumers view, such as cable shows, network broadcasts, streaming services, ads, and Blu-rays.
Data gathered through these methods helps you understand your audience’s interests and market more effectively.
You can use your marketing channels and data that customers voluntarily submit through surveys, account data, and other means to optimize marketing strategies. Combining these methods allows you to create a unique customer journey tailored to their needs.
A study found 88% of consumers value brand authenticity more than convenience and customer service quality. To meet this emerging need for authenticity, brands and businesses must focus on communicating genuine values, products, and services in all marketing channels rather than only conversions and profits.
A fundamental shift in marketing practices is required from companies for performance branding to achieve its potential. These changes include:
Develop a brand strategy based on audience data and competitive research, including competitor mapping, customer personas, and color schemes. Testing brand messaging and implementing creative marketing solutions to gauge how customers react to your brand can help you update your brand strategy.
More information in your customer data platform enables you to try new marketing tactics and update messaging, landing pages, and other channels. These data points can include the following:
Tracking data, running tests, and adjusting your campaigns are the keys to improving your performance branding strategy. By incorporating new insights based on technological advancements and changes in consumer behavior, you can continuously improve your offers to meet consumer needs.
A performance branding company can help you with key elements of performance branding, including detailed media planning and more frequent changes in your branding, using real-time data.
The ideal branding marketing company understands the changing marketing landscape and uses experience and digital tools to support your performance branding efforts.
Performance branding can help your brand grow and lower costs as marketing and consumer behavior trends change. WITHIN can help boost your branding and marketing efforts through performance branding to reach a wider audience and improve conversions.
Contact us today to discover how our integrated media and creative solutions can help you reach potential customers and boost sales for your business.