As more “tools of the trade” become available, marketing becomes both more interesting and flexible, but also more segmented and potentially confusing.
Marketing’s ‘split personality’ includes traditional brand building, driven by broad reach vehicles such as TV ads, on the one hand, and what we call ‘performance marketing’, such as online activities. data-driven, on the other.
Performance advocates tout their ability to generate and measure clicks, while brand builders argue for longer-term, broader-reach marketing vehicles (sometimes struggle to demonstrate short-term value).
We find that the measurement challenges of brand building sometimes push an organization’s marketing spend too far in a one-dimensional direction of online marketing exclusivity. Research shows that long-term customer loyalty is stronger when fueled by an emotional connection to the brand.
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In order to effectively address this potential imbalance, we recommend moving to what we call “full-funnel” marketing, which combines the power of brand-building marketing and (online) performance marketing.
It’s important to understand how the different stages of a company’s growth determine how it should market itself.
Often times, start-ups need to focus heavily on the immediate gratification and profitability of a strong online strategy.
However, as these businesses grow and mature, they can then reach revenue levels that provide the resources to spend more to develop and promote strong brand awareness (in addition to the more immediate gratification of clicks). on line).
Now is the time for marketers to turn to comprehensive marketing, as the returns from pure performance marketing have begun to plateau, due to the inflation of digital marketing costs, as well as the depletion of customers in the face of the proliferation of online platforms and messages.
Marketing success should always be viewed through a well-integrated lens that continually measures customer acquisition, retention, and sales against various promotional activities and their associated costs. We find that the strongest marketing results occur when organizations execute a well-designed, unified long-term brand building strategy, along with the immediacy and measurability of online performance.
For the online version of this column, visit www.thinkackermann.com Cathy Ackermann, Founder and President of Ackermann Marketing and PR, can be contacted at email@example.com.