Performance branding
You won't scale with performance marketing
13.03.2024
Achieving real growth in 2024
While some marketers are still happily engaged in optimizations on online platforms (performance marketing), smart marketers are taking a larger approach by planting a distinctive impression in the minds of consumers (branding). Let others be fixated on minor conversion improvements and squander their brand value. The distinctive marketer embraces performance branding.
Companies that are leading the way realize that growth and scaling can only be achieved through a combination of these tactics. This powerful synergy, which we call performance branding, is the only path to real growth in 2024 - it not only fills the sales funnel but transforms latent customers into loyal fans.
Increase your brand awareness
The rise of performance branding marks a new era in the marketing world. It highlights the importance of building brand awareness so that consumers consider your brand in their choices. In this respect, brand marketing, with the increase of brand awareness, plays a crucial role by laying a foundation for long-term growth and expanding the target audience. This enables a brand to make a longer-lasting and deeper impact, rather than just focusing on quickly acquiring new customers (read: lead generation).
Think beyond lead generation
Time to wake up. The performance marketing guru wants you to waste your budget on short-term actions: getting customers deeper into the funnel. But how do you get them in there in the first place? This is where an interesting theory comes into play: the 95-5 rule.
A study by LinkedIn states that at any given time, 95% of potential buyers in a category are not actively searching for your goods or services. This means that lead generation only focuses on a small group of 5% of ready-to-buy consumers. Think bigger. Instead, targeting the 95% who will buy in the future is much more effective and cost-efficient with performance branding.
A full funnel approach
The 95-5 rule perfectly illustrates why performance branding is revolutionizing with a full-funnel approach. We optimize both the branding at the top and the performance at the bottom of the marketing funnel. This way, nothing in the customer journey escapes us. In addition to achieving immediate conversion improvements, you simultaneously build long-term brand awareness.
How to start with performance branding?
To successfully start with performance branding, a strategic and well-thought-out approach is essential. Ensure your branding is tight. This means your positioning and branding strategy should be clear and aligned with your brand identity. It's also important that your visual language reflects this positioning, making your brand recognizable and unforgettable.
Then, clearly visualize your marketing funnel. Understand where your customers are and how to effectively guide them through the funnel. It is also crucial to monitor growth and strategies through consistent reporting, so you continue to pursue both short- and long-term goals. Finally, lay the foundation for organic and social growth with strong SEO and social media tactics. With these steps, you take the first steps towards effective performance branding, and you build towards sustainable growth and a strong brand identity.
Tired of focusing solely on minor conversion improvements?
Let's look at how you can truly grow in 2024 together. By thinking bigger than just addressing the 5% of ready-to-buy consumers.
