Marketers need to balance brand and response marketing for growth

Marketers are always under pressure to prove the ROI of their campaigns, but the demand for brand growth has only sharpened as companies work to pull themselves out of pandemic-induced strains. Though this demand is more pressing, the question of how to solve it is an age-old one: To grow market share, should brands spend their time on upper-funnel, brand-building efforts or mid- and lower-funnel efforts that will secure quick wins for the business?Here’s my answer: A balanced marketing approach is key for brand longevity. Let me explain what that looks like in practice.There’s no denying the allure of securing quick sales. With the ability to provide immediate ROI to their businesses, marketers alleviate some of the pressure of the campaign to deliver results early on with quick wins. However, conversion-oriented marketing alone falls short in supporting future brand success, since a brand’s existing customer base will rarely ever generate enough sales to meet most long-term growth goals.Instead, marketers need to address brand growth through a balanced marketing strategy that accounts for every part of the funnel. Here’s how:

Develop tactics that take customers from start to finish

If customers are unfamiliar with your brand, they’re unlikely to purchase your product, which is why effort needs to be put into brand awareness and consideration campaigns. Addressing the top of the funnel will sustain a pipeline of future sales by nurturing prospects. It will also make lower-level activations more effective, as those tactics will then be applied to a larger pool of consumers.

close

Get every new post delivered right to your inbox.

Original Source