Brandformance Marketing: What Is It and Does Your Company Need It?4 min read
Brandformance marketing is a marketing strategy that combines two important aspects: brand and performance marketing. Brand marketing is concerned with promoting the company’s brand and creating a positive image, while performance marketing focuses on achieving marketing goals, such as increasing sales, attracting new customers, or reaching a greater number of Vave Casino members. Roughly speaking, it’s used when you need to generate sales while increasing brand loyalty.
When choosing between these two approaches, there is often a struggle over budget because they have different tools and channels to attract customers. By combining brand and performance marketing tools in the same approach, companies can simultaneously increase their brand awareness and reach, as well as attract new customers and increase sales. It was this combination that became the basis for the emergence of a marketing strategy called Brandformance.
Reasons for the Formation of Brandformance Marketing
Why is this fusion of the two types of marketing now becoming popular, and why should you opt for this type of promotion? Here are the main points:
- The customer journey to purchase is getting longer. Customers now need more contact with a brand to make a purchase decision – 5 to 8 touches. To engage the customer, you need to use different channels and ways to interact with them.
- Crisis. In a crisis, when the prices are going up and people’s income level isn’t increasing, it’s important to justify the value of your product and convince the customer that it’s worth their money. If you are going to charge higher prices than your competitors, you need to prove your uniqueness and product benefits.
- Retention. You need to focus not only on the first sale, but also on customer retention. Remarketing alone won’t solve this issue.
Key Stages of Brandformance Marketing
Brandformance involves brand and product promotion. The approach used is to divide all the work into several stages and segments. This allows you to work through the information, to find the right approaches to achieve your goals. The key stages are considered to be:
- Analysis of the target audience. It’s easier to find potential customers on the Internet and form a portrait of their interests. A detailed study determines their behavior. After identifying the audience segmentation is carried out, which increases the impact of ongoing advertising. The search algorithms have already picked up the appropriate algorithms. However, it’s recommended to use this data only for comparison.
- Preparing a promotion strategy, the selection of tools. After defining the goals and target audience, selected sites, promotion channels. A specialist makes a media plan, a budget is forecasted and a KPI system is formed. Generated strategy will be used as a basis.
- Creation of landing pages. These are needed to promote a specific product or brand. They bring simple, but good results.
- Launching the company. Based on the chosen strategy, the advertising format is selected, and all material is adapted for different channels. Just a few days will gather the incoming data, which is analyzed. But it will take time to make changes.
- Getting the data and analyzing it. The final reports should contain the coverage, the dynamics of consumption, the average cost per view or click. Many sites automatically calculate the results. It’s enough to enter them into tables and various services for further analysis.
In marketing, it’s most difficult to assess brand awareness and other related indicators. Data that is collected automatically isn’t enough to get the right information.
Brandformance is the most profitable and effective type of marketing on the market. It works better than using the two strategies separately. It’s great for warming up your audience, selling and establishing a close contact with your customers, making them come back to your brand again and again.
Key tools still in use at Brandformance:
- Email marketing.
- Social media and YouTube.
- Streaming platforms.
- Search networks.
- Radio, TV.
Each of these tools has its own advantages and disadvantages depending on the target audience and goals of the marketing campaign. For example, streaming platforms, like Spotify and Apple Music, are becoming increasingly popular in today’s world, and can provide a great opportunity to promote music brands.
In general, each of these tools can be used alone or in combination with others. It’s important to choose the right tools depending on the goals of the marketing campaign, budget, and target audience.
Brandformance is now the most profitable and efficient type of marketing on the market. It has a better effect than if you use brand and performance marketing separately. It perfectly warms up your audience, sells, and establishes close contact with customers, making them come back to your brand again.