Brand marketing and performance marketing are the perfect partners when it comes to adding value and revenue to your business. In Brand marketing, online digital marketing agencies build the reputation of your business, whereas performance marketing looks into generating revenue for your business.
It is evident from a number of previous examples when a business successfully builds a reputation around its name, they get to retain customers easily without any promotion, but it doesn’t assure revenue generation in a similar amount, as the retaining customers are limited.
Similarly, businesses that focus on just marketing and aim at good quality campaigns may no doubt be able to generate a considerable amount of revenue in a single campaign, but that doesn’t ensure customers will return after their first experience, however good your product be, as with some another marketing gimmick from another brand, customers will tend to move to other brands.
In this article, we will look at the relationship between brand marketing and performance marketing and why you need to blend them together for an effective marketing campaign.
What Is Performance Marketing?
Performance marketing refers to the online marketing and advertising campaigns that work on the pay for results model, wherein advertisers pay marketing companies after visible results, that is, when a specific action is completed, such as traffic, sale, or click.
This marketing method is one of the riskiest methods to take up for a brand.
Those who work in the field very well know how marketing works and how unpredictable can a campaign be.
This is why, when the financial settlements depend on the successful performance of the marketing strategy, things get risky for the marketers.
Performance marketers are hence called the risk-takers of the marketing industry.
Performance marketers use strategically obtained data to plan short-term goals that give short-term affirmative results.
These campaigns are strategically targeted with the sole purpose of getting results in the form of action.
The actions could be sales, traffic, lead, download, or even a click, and the pay is initiated only after the target audience takes action.
What Is Brand Marketing?
As the name suggests, brand marketing is all about building and enhancing positive consumer perceptions of the brand and engaging consumers to help grow their affinity for the company. It focuses on an emotional and enduring side of a business, where the emphasis is on values, quality, trustworthiness, etc.
Compared to other methods, brand marketing works at a slower pace and attracts & engages with the customers over a long period, gaining their trust, reliability, and affection.
This helps the customers return to the business again due to the brand’s name.
Even if the brand becomes old, customers still keep returning to the brand.
Relation Between Brand Marketing And Performance Marketing
Brand marketing is laying the foundation of your business, while performance marketing is concerned only about reaping profits.
Let’s see an example, a clothing brand gains reputation over a period of years. Customers tend to purchase clothes only from this brand. The reasons for this are the comfort and durability that the brand offers. Therefore, the leads, traffic, sales actions are mostly gained based on the name of the brand and the trust built around it.
On the other hand, a brand might be entirely new with no or negligible set audience or an old one that has lost its audience. Digital performance marketing agencies strategically collect and plan data so that the actions such as traffic, leads, and sales are pulled towards the brand, initiating the process of revenue generation.
Performance marketing cares about the number of products that have been sold in a day, irrespective of whether they are loved or not.
Whereas brand marketing will focus on how the products are being loved and how positively the customers perceive the brand.
Balancing both brand and performance marketing is the smartest way to achieve both goals.
Why Should You Combine Brand Marketing And Performance Marketing?
Combining the two different marketing methods of brand and performance marketing ensures two-way benefits for your business.
Achieving a balance between both brand and performance marketing helps you gain strength, loyal customers, and collect good revenue.
It could be called Performance branding and might represent the next favorite of a marketing strategist.
How Can You Combine Brand Marketing And Performance Marketing?
Combining brand and performance marketing will involve targeting existing active users while attempting to reach out to the dormant audience. Blending efficient KPIs with creative branding narratives are some great methods.
- Define precise short-term and long-term goals. Performance marketing can be focused on as a short-term goal, while brand marketing can be built on a long-term basis.
- When you work out performance-based marketing strategies, identify and note down the most appreciated strategy by customers. Add this strategy to the brand marketing strategy.
- Drive both ROAS and branding lovability in equal amounts.
- Blend efficient CPMs with creative branding narratives.
- Target existing active users while attempting to reach out to the dormant audience.