better short-term conversion / but worse long-term brand equity.
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worse short-term conversion / but better long-term brand equity.
Performance-based marketers are more impatient on returns and tend to use tactics like:
- SEO
- PPC
- Conversion optimisation
- Lead generation
- Affiliates
& others…
A good sign of a performance driven company are year round sales and promotions as they are an effective way to get people roped in. Campaigns like these do not require deep emotional connection nor story telling as they focus on the consumers functional desire for “a good deal”. They trump their competitor by offering a cheaper or faster option. BUT these brands often lack loyalty.
For this they focus on marketing tactics that are hard to measure like:
- Creative Content
- Experiences/Events
- PR
- Product Placement
- Partnerships
& Others…Lots of people say they want a strong brand with lasting brand equity but often can’t or don’t want to endure the potential short term drawbacks. building a company with strong brand equity CAN BE BRUTAL. It requires TIME, money (and strong nerves) to successfully cultivated lasting brand loyalty. But once brand-fans are created, they begin to do the work for you and the hard work pays off.
Offering functional value (like discounts and fast shipping) might provide short term results, but it doesn't build deep and lasting connection. We argue that over time a brand will struggle to retain their customer base if they decide to only invest in - and reward the - functional side. One reason being, it only takes their competitors to offer a better ‘deal’ for the consumer to jump ship.
We believe when consumers are truly connected they are willing to pay a premium and even wait. We believe that brand-driven marketing is about building for the future and that lacking a strong brand is setting the company up for the reliance on tricks and deals.
What is harder to copy? Deals or depth?
performance-driven marketing tactics play an important ROLE in a brands success. BUT, we believe, THEY SHOULD NOT BE THE ONLY TOOLS IN YOUR tool kit. instead, aim to go beyond the function and find ways to connect to your audience on a deeper emotional level. instead, aim to go beyond the function and find ways to connect to your audience on a deeper emotional level.
As a founder or leader, think about what your natural inclination is. Do you lean more to performance-driven or brand-driven?
Dig a little deeper. What type of business do you want? What suits your company culture? What type of business and consumer do you hope to have?
Where ever you end up, lean into your natural inclination and play to your strength. But don’t mock the other side. Instead, work together. Performance-driven marketers need brand-driven marketers to give their brand depth and meaning. Brand-driven marketers need performance-driven marketers to go beyond the fluff and push conversation.
