Companies take up branding to highlight the essence of their products and services, and craft narratives to appeal to the larger audience. Its more than marketing and establishes deeper connection with the consumers. The brand’s narrative or story reminds customers of its underlying purpose.
And then there is the clash between performance marketing and brand-building. Digital marketing expert Simon Kingsnorth wrote in his June 2023 article ‘Brand Marketing vs. Performance Marketing’ that brand marketing is about crafting a unique identity, establishing an emotional connection with consumers and building long-term brand equity. This shapes perceptions, fosters trust and creates loyal customers. Kingsnorth said performance marketing emphasizes measurable outcomes, and concentrates on immediate results, like leads, conversions, and sales. He explained that both strategies are crucial for businesses seeking sustainable growth and profitability.
Experts say contending brand building and performance marketing against each other in a competition for budget damages the effectiveness of both. These strategies have to be balanced as brand building is a long-term investment, while performance marketing is about generating revenue. Moreover, performance marketing is linked to measurable business results.
Brand refresh falls in the category of brand building and ad campaigns fall into performance marketing lap. Both enhance brand perception, attract new customers and drive revenue growth. But then which strategy is more value for money?
Brand Refresh is a Makeover
Brand refresh can be described as a makeover, a renovation that gives a new look and feel. It’s a cosmetic facelift that gives the brand a new colors and fonts, putting it into the limelight. Brand refresh makes the company stand out from competitors, with a unique proposition. The brand updates its slogan or tagline and visuals, including web portal. Brand refresh regenerates new excitement in the brand and company from customers and employees. It enhances the brand image and conveys to the target audience that it’s keeping up with trends and their needs. Brand refresh is building the brand, giving it a fresh touch. It revitalizes the brand, while preserving the core identity, but giving it a new look and messaging. Keeping up with times, up-to-date
Ad Campaigns Give an Edge
Ad campaigns empower the business or brand with a focused edge in terms of marketing and advertising. It appeals to the target audience. Ad campaigns involve crafting a story, creating and distributing targeted messages to the specific audience. It increases brand awareness, and drives sales. Ad campaigns are about selling a product or service, highlighting a brand through various media channels like radio, television, print, online or outdoor. Ad campaigns require investment to maintain effectiveness and visibility.
In terms of value, both – brand refresh and ad campaigns are costly projects. Brand refresh involves significant upfront costs, like design fees, market research and implementation, while advertising campaigns involve high-budget media placements and extensive digital advertising spending. Brands and businesses bet on ad campaigns to generate immediate sales and leads.
Before opting for either brand refresh or ad campaign, companies should look into their business objectives, market conditions, and budget considerations. Brand refresh helps businesses stay relevant in the competitive landscape, while ad campaigns provide immediate visibility.
Also Read: e.l.f. Cosmetics – First Beauty Brand to Test Real-World Commerce on Roblox
