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The majority of digital marketing today focuses on targeted performance marketing. Partial or no branding support, such as personalized messages, direct messages, buy now, form fills, etc. Brands now think and feel that everyone knows my brand is the best. The brand wants to drive his ROI through sales, leads, walk-ins and footfalls.
Marketers miss the entire customer journey. An offline brand manager focuses on offline media channels, similar to a digital brand manager that focuses on the user’s digital journey. You need to tap into the consumer’s holistic journey.
Source: Red Crow Marketing
Experts say the average person sees between 4,000 and 10,000 ads every day.
Think about it.
All other posts on social media are sponsored ads, paid partnerships, or subtle brand integrations. On a busy street, you’ll be exposed to dozens of billboards, shopping windows, or advertisements on wheels (car/bus branding).
Few categories focus solely on performance advertising. For example, autos, insurance, banking, and now FMCG are all moving into the same segment. Now everyone is doing push and pull or content-centric advertising.
This leads to a vague understanding of performance marketing campaigns. Simply facilitating sales-driven or offer-driven communications no longer works. Additionally, it exacerbates upper- and middle-funnel spend across media channels, impacting bottom-conversion funnels. Today we are talking to SMART CONSUMERS who are curious, methodical, and not necessarily obsessive buyers. They have researched and are well-informed about products and services.
When it comes to achieving TOFU (top of funnel) and balancing with BOFU (bottom of the funnel), we believe data-driven plus “performance-driven branding” and discipline will give marketers an edge.
Existing models, cross-channel MROI, marketing mix modeling (MMM), or multi-touch attribution (MTA), focus on the late stages of the funnel, focusing on historical data rather than detailed data. is placed. – Time support for optimization.
Performance branding with massive data and deep technology powered by machine learning allows brands to engage in real-time optimization. Of these, the first and most important step is tracking ever-changing consumer preferences and mapping them correctly in a Customer Data Platform (CDP). CDP incorporates data from internal, external and third parties in line with GDPR policy.
A prime example is Billy Beane, a former general manager who deployed data and analytics to build a low-budget, competitive baseball team for the movie Moneyball.
We have already implemented and are working closely with research institutions to identify CDPs for categories such as luggage, personal care, insurance and automobiles. We also began rolling out CDP with a single-view platform that empowers today’s marketers to make effective decisions. Real-time with the right data touchpoints.
performance branding model
Brands used to set goals and drive campaigns, but many brands still have separate branding and performance teams. Imagine a bicycle with front and rear moving in different directions. Brands will not be able to reach their intended destinations.
Our brand building team focuses on awareness, reach, views, CTR, VTR, and many other metrics. Performance teams focus on sales, leads, and visits in line with brand goals. The new D2C brand will also suddenly take up the direct sales route for performance campaigns only.
The model we follow consists of four steps.
1. Creating a brand strategy: It consists of multiple elements. These include competitor mapping, pain points, customer personas, unique value proposition, brand DNA, and more. It’s more important to identify the right audience that can marry your brand.
2. System implementation: You need to understand the communication that drives growth based on your brand’s DNA and audience behavior. This communication isn’t just copy, it’s a visual element that categorizes where the brand wants to go in the next three to five years.
3. Long & Short:
A long strategy here talks about owning a particular communication or channel example: Dove’s Real Beauty campaign or Amul’s out-of-home strategy for the latest issue. A short strategy is to deploy small bursts of performance campaigns based on examples of USPs or functional benefits.
4. Learn and repeat:
The above three steps correctly deployed in an automated CDP will help the system learn and provide trend/media insights that will push performance to the next level. It’s an ever-expanding loop of learning and iteration with the right data insights to drive your brand to long-term success.
The four steps above provide the essential structure for performance branding. Much can be done to further enhance the process and derive better MROI (marketing ROI). Additionally, tiering using attribution modeling helps us understand the role of each channel and how it is used.
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