If you’ve been in the marketing world for any length of time, you’ve probably heard of performance marketing and brand marketing. But what exactly is the difference between the two? Is one better than the other?
Let’s take a look at these two strategies to figure out which is right for your business.
What is Performance Marketing?
Performance marketing, including B2B performance marketing, is a type of online advertising where you only pay when the user takes a desired action. This could be anything from a purchase to a sign-up to an email subscription.
The advantage of this model is that it allows you to target users who are likely to take the desired action and only pay for those who actually do take the desired action. The result is higher ROI and more cost-effective campaigns.
Performance marketing also allows you to track your results in real time, allowing you to optimize your campaigns on the fly. That means you can quickly adjust your strategy based on what is working and what isn’t instead of waiting until after the campaign has finished running.
Additionally, because performance marketing usually involves smaller budgets than traditional advertising, it allows businesses with limited resources to get their message out there without breaking the bank.
By targeting users who have already interacted with your brand or website through other channels, performance marketing can help drive conversions by providing an additional touchpoint for potential customers.
What are Some Examples of Performance Marketing?
Performance marketing isn’t just about clicks and impressions—there are lots of different types of performance marketing strategies out there. Here are some examples to give you an idea of the possibilities:
- Paid Social: Advertising on social media networks through their paid advertising platforms is a form of performance marketing.
- Paid Search: PPC ads are typically found at the top and bottom of search engine result pages (SERPs). Advertisers only pay when someone clicks on the ad and visits their website or landing page.
- Connected TV: CTV targets viewers programmatically through data such as age, gender, viewing habits, and other TV Advertising statistics.
What is Brand Marketing?
Brand marketing is all about creating an emotional connection with your audience by creating an identity for your product or service that sets you apart from your competition. This includes everything from choosing a logo and slogan to crafting customer service experiences and developing content that resonates with people.
It’s important to note that brand marketing isn’t just about selling products—it’s also about building relationships with customers over time.
Brand marketing is essential for any business because it helps build trust and loyalty among customers, which leads to repeat purchases and referrals down the line. Plus, it creates an easy way for people to identify and remember your products.
Think about it—if someone asks you what comes to mind when you think of Nike, chances are you’ll say, “Just do it!” That catchphrase has been ingrained into our brains thanks to their successful branding efforts over the years.
At its core, brand marketing involves creating a consistent image for your company across all platforms (e.g., website, social media accounts, email campaigns). This process starts by taking stock of what makes your company unique (e.g., mission statement) and then using this information to create engaging visuals (e.g., logos, slogans) that will resonate with potential customers.
From there, you need to ensure that all verbal communication is in line with your brand values so that customers have a positive experience every time they interact with your company.
What are Some Examples of Brand Marketing?
One example of brand marketing is merchandising. When you go to the store, you don’t just buy products from any old company, you buy products from companies whose brands you trust and respect. That’s why companies create branded merchandise such as t-shirts, hats, mugs, stickers, etc., as a way to spread their message to potential customers in an engaging and memorable way.
Social media is one of the most effective ways to promote your brand because it allows you to interact directly with potential customers. The key here is to make sure your social media posts are creative and engaging while also staying true to your brand identity. Regularly posting content related to your industry or company will help build credibility and keep people interested in what you have to offer.
A final example of brand marketing is event hosting. Hosting events or experiences related to your brand can be another great way to engage with potential customers in person. Hosting events allows people the chance to experience your product or service first-hand, which makes them more likely to become loyal customers in the future.
For example, if you own a coffee shop, host an event where customers can learn about different brewing methods or taste test different types of coffee beans from around the world.
What is the Difference Between Brand Marketing and Performance Marketing?
Performance marketing focuses on data-driven results rather than brand awareness or engagement. This type of marketing places an emphasis on conversions and sales as opposed to building relationships with customers (though both are equally important).
Unlike performance marketers, brand marketers focus more on creating an emotional connection with their customers through storytelling. Brand marketers use visual elements such as logos, colors, fonts, and images to create a consistent message across all platforms and channels.
Plus, they focus heavily on engagement by creating content that resonates with their target audience and encourages social sharing or conversations about their product/service. This type of marketing requires a longer timeline for success since it relies heavily on building trust and loyalty among customers over time.
How can Brand Marketing and Performance Marketing Work Together?
Let’s take a closer look at how these two types of marketing techniques can work together. Who wins in this battle between performance marketing vs. brand marketing? The truth is both are necessary for businesses to succeed online today.
Performance marketers need to measure their efforts to ensure they are optimizing their website for the best possible ROI while also taking into account brand awareness factors such as customer loyalty to maximize their success long-term. Both types of marketing must work together in harmony for businesses to thrive!
Analyzing performance results is a great way to gain insight into your audience’s behavior and preferences—something that can ultimately help you build your brand.
When combined with demographic data about who is viewing your ads and responding favorably to them, this information can be used to hone in on exactly who should be targeted for future campaigns (and help you build your brand). This detailed understanding of your customer base will give you an edge over competitors who don’t take advantage of such data-driven approaches.
Make Sure Your Campaigns Are Successful
Both performance marketing and brand marketing are important elements of any successful digital strategy—kind of like peanut butter and jelly (but without the sticky mess!).
Performance marketing provides quick wins, while brand marketing gives you a foundation for sustainable growth over time—it’s a balance between short-term gain versus long-term gain.
So when deciding which approach works best for your business, make sure you consider both strategies carefully before making a decision that fits into your overall strategy.