Once upon a brand
We work with a lot of brands that are already working with performance agencies and they're not quite grasping why their sales are starting to plateau. There's a simple answer: they need to invest in brand. In today's fast-paced and crowded digital world, it's incredibly easy for brands to get lost in the noise. The rise of performance marketing, which focuses on getting immediate results and generating leads, has caused many businesses to overlook the importance of investing in their brand.
Performance-driven marketing tends to prioritise short-term gains and quick conversions. It's all about getting those immediate results, which can create a transactional relationship with customers. However, if you don't invest in brand marketing, your customers may not develop a strong emotional connection to your brand. This increases the likelihood of them switching to your competitors, as they may only have engaged with your brand on a rational level. Furthermore, performance-driven marketing often neglects the importance of brand differentiation, making it difficult for customers to distinguish your brand from others. These campaigns may focus on unique selling points, current offers, or new products, but they may not tell the whole story of your brand.
Brand marketing allows you to build a deep connection and foster brand loyalty. By focusing on storytelling and emotional connections, you can leave a lasting impression and cultivate long-term customer loyalty. Brand marketing also gives you the flexibility to adapt to changing market dynamics and explore new strategies, which is crucial for sustained growth.
For brand awareness marketing to truly succeed, it's essential to tell good stories. Applying narrative theory to your brand work enables you to create more interesting and engaging stories that resonate with the right audience at the right time. Performance marketing can only capture a portion of the brand story and lacks the ability to develop an ongoing narrative. That's why it shouldn't be relied upon solely. When brand marketing fails, it's often because the story was poorly told—perhaps it became a watered-down mix of lead generation and brand, or it simply fell short in execution.
Investing in brand marketing, particularly brand awareness campaigns, allows companies to differentiate themselves and establish lasting connections with their customers. It's not enough to just provide a product or service; consumers are looking for an emotional connection and a sense of loyalty to the brands they choose. By crafting memorable stories, brands can become more than just transactional entities. It builds trust and credibility. It may take longer, but in the end, it's a more profitable path.