As marketing continues to evolve, the strategies that agencies and marketers use to hit benchmarks need to as well. Driving ROI is the ultimate goal for advertisers. In order to accomplish this, agencies receive Key Performance Indicators (KPIs) that include phrases such as: increase awareness, increase market share, drive leads, etc. Historically, marketers tackled these goals separately, focusing on either brand awareness or pushing sales, but typically not both simultaneously. The reason why is advertising outlets were often very segregated in terms of vendors, tactics, approach, data, and attribution. However, with access to more granular data across the landscape and convergence between digital and traditional media, an innovative approach can and should be considered by marketers. This is what we, Chief Media, likes to call brandformance.
Brandformance, the merging of “branding” and “performance”, is the idea that campaigns can be designed to not only establish brand identity, but to meet or exceed target ROIs as well. Marketers who can master the use of brandformance will be able to get the most out of their budgets and create innovative campaigns that engage audiences.
The Pros & Cons of Brandformance
When executed properly, brandformance campaigns save both time and money by combining performance marketing and brand marketing into a single campaign. However, like all marketing endeavors, brandformance is not a guaranteed path to success. The main risk of running a combined campaign is unclear messaging. Focusing too heavily on either branding or performance can confuse audiences and cause them to misinterpret your advertisement. When implementing brandformance in a campaign, make sure that brand messaging is clearly conveyed, and that your ads are placed within the optimal channels.
The benefits of brandformance greatly outweigh the risks. Over the past decade, marketing trends have become increasingly performance-driven and digitally oriented, resulting in a lack of impactful creative and lifeless messaging. Brandformance brings back the importance of effective creative within campaigns while also utilizing modern performance tools to drive results. This blend of traditional and modern strategies uses the best of both worlds to develop meaningful campaigns that resonate with consumers and inspire sales.
Brandformance in Action
An example of a successful brandformance campaign is Sunsetter Awnings’ DRTV commercials. These linear television ads immediately interest customers with extreme product demonstrations and enthusiasm. Sunsetter was able to establish lasting brand identity with customers while also valuing performance. KPIs including impressions and sales were able to be tracked through the DRTV campaign, allowing Sunsetter to gain notoriety while simultaneously maximizing sales.
Brandformance campaigns are not restricted to a single channel or media type, and many notable brands (Coca-Cola, Ray-Ban, and Google) are now taking advantage of TikTok, YouTube, and Twitch to boost brand awareness and drive consumers down the marketing funnel. SEO is yet another highly useful tool that can have a brandformance oriented approach. Companies that secure branded keywords and search terms can align their organic and paid search efforts to reduce the chances of consumers landing on competitors’ pages.
Is Brandformance Right for You?
If your business is looking for a new approach to building brand awareness while also achieving sales goals, brandformance may be the marketing solution you have been looking for. When combined with the right product or service, brandformance can establish your company’s identity while maintaining a healthy number of incoming sales.
If your company is interested in learning more about the potential of brandformance, or are looking to plan a multi-channel campaign, our team of data-driven marketers at Chief Media are here to answer any questions you may have. Our advanced planning and media buying solutions allow our clients to have a customized marketing plan that is optimized to reach target audiences across the country. Contact us at [email protected] to learn more.