What's the difference between branding and performance marketing ?
When you’re a brand owner or someone who is about to build a brand from scratch, your questions when it comes to building your brand would be :
1. How do I grow my business?
2. How do I reach everyone and also my target audience?
3. How can I integrate branding and performance marketing to work together effectively?
4. Do I need separate agencies for branding and performance marketing, or can one agency handle both?
Two crucial elements often misunderstood, yet vital for success, are branding and performance marketing. While distinct, these strategies work in beautiful harmony, creating a powerful synergy that propels your business forward. Here at Mellow, a leading agency offering both Brand Marketing Strategy and Performance Marketing Services in Bangalore, we're passionate about helping businesses unlock the full potential of this dynamic duo.
1.Branding
What exactly is branding ? Many people think of branding as simply a logo and a catchphrase, but it is much more than that.
Brand marketing/branding is a long-term approach that seeks to establish a strong brand identity and foster trust among the target audience. It also aims to establish an emotional connection between the company and the audience, which can lead to greater brand loyalty, more business, and word-of-mouth referrals. With brand building, you focus on the entire addressable market (TAM), not just the people who are ready to buy your product or service.
When done effectively, brand marketing leads to increased brand awareness, generating positive feelings and ideally unaided awareness (knowing of a brand’s reputation and eminence).
Brand advertising and marketing efforts may include:
1. Implementing the same colors, logos, and messaging throughout all of your marketing mediums.
2. Creating an app that helps clients solve problems.
3.Focus on customer service to increase trust in your firm.
4.Forming relationships using social media platforms.
5.Developing and implementing commercials for radio, television, podcasts, and online.
6. Building Authority Through Content and PR
2.Performance Marketing
Performance marketing is a data-driven strategy to customer targeting and revenue generation.
It usually relies on digital marketing channels, which include:
Pay-per-click (PPC) advertising.
Social media marketing.
Influencer marketing.
Email Marketing
Ad retargeting
Search Engine Optimization (SEO)
Performance marketing focuses on achieving rapid results, such as increasing website traffic, prospects, and sales. One of the primary benefits of this strategy is that it is extremely measurable; by measuring key performance indicators such as cost per click and conversion rates, you can immediately calculate the ROI of your campaigns.
Brand Marketing Vs Performance Marketing
The end goal of both brand marketing and performance marketing has the same goal: to help consumers become more aware of your brand and, as a result, make a purchase. These marketing approaches share significant similarities as well as differences.
Similarities
Brand marketing and performance marketing have similar goals of keeping your brand top of mind and eventually driving sales.
Brand marketing and performance marketing can both utilize the same platforms in similar ways. Some Connected TV platforms, for example, focus on brand marketing, whereas others are more concerned with performance marketing. While the goals are different, they use the same screens and placements.
Difference:
Brand marketing makes a long-term, emotional appeal to consumers, whereas performance marketing is more precise and focused on immediate goals such as lead generation and sales growth.
Brand marketing may utilise more visionary elements, such as a memorable logo, a portrait of a celebrity spokesman, or a motivating phrase ("Think Different" or "Just Do It," to mention a few examples). A positive outcome for a brand marketing campaign could be the number of impressions or unique viewers; these metrics are not related to a specific return on investment.
Performance marketing, on the other hand, is all about particular sales targets, such as Apple's social media commercial, which aims to convert your positive thoughts about the company into an actual click and sale of a new pair of Airpods. An effective performance marketing campaign will produce precise results that are linked to performance metrics (site visits, conversions, etc.) and can be compared to quantitative targets established at the start of the campaign.
Now how do we bring in both of these strategies together to build a successful brand ?
Marketing has acquired a dual personality, relying on both traditional marketing and data-driven tactics. Relying on just one method can result in a distorted focus. For example, consider a brand marketing strategy that overlooks the advantages of alternative options. Combining brand and performance marketing in your channel strategy is likely to produce better outcomes.
It’s good to collaborate both brand marketing and performance marketing, but the proportion of each will vary from brand to brand. Focusing primarily on brand marketing may be costly and sluggish to provide results, whereas a heavy concentration on performance marketing may produce instant benefits but sacrifice long-term loyalty and future sales, undermining demand creation efforts over time.
At Mellow, we understand the importance of aligning branding and performance marketing efforts. We take a holistic approach, working closely with you to develop a comprehensive strategy that builds a strong brand identity while leveraging targeted performance campaigns to drive immediate results. We strive to be Best Brand strategy agency in Bangalore
