Hajra Naz
As you might expect, brandformance is a new way of thinking about digital marketing that combines performance with branding. Though this is just one side of the story, earlier schools of thought placed a greater emphasis on brand building. While brand development conveys your story and cultivates a devoted following, goal-based performance marketing is essential for accurately measuring the effectiveness of your plan.
In 2024, businesses must have a dependable method for calculating the return on their marketing investments if they want to be competitive in the social media era. Herein lies the role of brand performance. It addresses the issues of continuing to establish your brand based on data-driven outcomes and staying at the top of customers’ minds. A recent eMarketer survey revealed that 56% of global brands had superior outcomes after implementing a blended approach in place of conventional branding and performance silos.
Now let’s analyze five methods for expanding your audience using a brand performance strategy.
1. List the best working channels
You should thoroughly assess your existing performance marketing channels before delving deeper into brand performance. This entails evaluating your current performance marketing infrastructure’s cross-channel effectiveness and budget allocation with objectivity.
This first step sets you up for the next strategy which is creating an effective budget.
2. Create a budget for performance
Choose how much of your performance budget, or even more, you want to set aside for tests on large-scale channels after you’ve examined your channel split and where your marketing dollars are being spent. Sometimes the greatest way to support your mixed omnichannel brand performance plan is to radically redesign your budget.
The team can enhance the present budget allocated to performance marketing if the company is willing to make an investment in brand performance at the risk of declining profitability. As an alternative, it can assign a portion of the budget to brand performance and decrease the performance budget.
3. Dive into metrics
Dive into metrics” suggests a deep exploration of data and analytics to gain insights. While diving into matrics, organizations dig into different key performance indicators (KPIs) to assess performance, grasp trends, and settle on informed choices.
This includes dissecting metrics connected with deals, advertising adequacy, customer engagment, site traffic, and the sky is the limit from there. By submerging themselves in metrics, organizations can reveal significant bits of knowledge that drive vital preparation, distinguish regions for development, and enhance cycles to really accomplish their objectives.
Examine different regions, like cities or nations, to evaluate changes in organic traffic trends, improvements in conversion rates, and clickthrough rate (CTR) in performance channels. It’s best to assess the total effect in a thorough and high-level manner, taking into account measures related to both performance and brand performance.
4. Determine your main messages and target audience
After deciding which channels to use and allocating funds, you can focus on developing a special value proposition for each channel. When explaining to potential clients why they should choose to interact with your business over others, it is essential to highlight your competitive advantages.
Since it’s less expensive to expand your reach and easier to get started, we utilize TikTok for branding objectives. A larger audience is made possible by the platform’s success, which also encourages new cooperation options. But our messaging on TikTok would be different than our messaging on Instagram or our landing page.
For example, we might design a campaign that discusses both businesses and offers links and discount codes for each, or we could work with partners to create more intricate partnerships, like a combined package that includes products and exclusive deals from both parties, all catered to the target market we want to reach.
5. Update and improve your processes on a regular basis
To maintain your process data current, make use of well-known solutions like SKadNetwork, Google Ads, Facebook Ads, Google Search Console, and social media platform analytics. For instance, Flowwow uses influencer marketing extensively. As such, our success depends on carefully choosing our target market and brand messaging. As such, we need to monitor these campaigns closely and adjust our objectives based on what our consumers find appealing.
In addition to increasing customer loyalty and brand awareness, a strong brand performance plan also decreases long-term client acquisition expenses and increases the possibility of quick, high-quality conversions. We make use of indicators such as share-of-voice, organic search figures, sales made through tracking links, and orders made with special coupon codes connected to various channels.
Sum Up
A brand’s performance exceeds the sum of its parts. Gaining and keeping a competitive edge in today’s hyperconnected world requires fusing the potent, people-oriented side of brand identity with the smooth efficiency of dependable data and tangible measurements. Due to people’s short attention spans and access to a wealth of information, you must be able to differentiate yourself from the competition immediately and consistently.
The future lies in brandformance, and if you choose this strategy today, you’ll prosper and experience steady, quantifiable development in the long run.
