There’s a lot of discussion happening around brand marketing and how this new awareness will impact businesses, particularly as companies like Airbnb reported their most profitable quarter to date following their switch to a more brand-focused strategy in 2019.
Does this mean the end of paid advertising?
Honestly, probably not. However, attitudes are changing as to whether there’s still value in pumping the majority of your budget into growth marketing.
Before we make any sweeping statements, let’s first understand what brand marketing is and what it does.
What is brand marketing?
In a nutshell, brand marketing relies on your relationships and story to build connections with your audience. Your product simply becomes evidence of your story and values; meaning your customers buy into YOU first.
Note that brand marketing is not the same as your branding. Branding is who you are, the driving factor of your strategy as a whole - brand marketing is the long-term strategy of how you communicate that message.
The keyword here is long-term.
Brand marketing isn’t usually a direct generator of sales which is a big reason why it’s often overlooked. It’s not necessarily better than growth marketing (paid social ads, Google Ads, cold calling etc.) - although brand marketing is proven to be the main driver of growth over time - the short-term impact is small and works on a different timescale. The challenge is finding a balance between the two that works for your business.
What does brand marketing look like?
Brand marketing focuses more on emotion and connection, so social media, content marketing and influencer marketing are especially useful in brand marketing strategies. The goals are to drive brand engagement and create a group of ambassadors that advocate for your brand. Creating advocates for your business is crucial because they influence up to 50% of buying decisions.
In your business, brand marketing might look like a social media strategy dedicated to corporate social responsibility or a content strategy that specifically talks about the trials and tribulations of owning a business in your industry; both ideas are sure to speak to your audiences’ problems and garner empathy.
Let’s look at some brands that have nailed their brand marketing strategy.
Apple is synonymous with next-gen technology and its product/product design support that. They don’t rely on any PPC or paid advertising to market their tech. Instead, they focus on product placement in films and tv shows and the buzz that’s created by new releases; namely their keynote events and the buzz created by positive online reviews of their products.
That doesn’t mean you have to muster the budget to get your products shown in films of course, but you can create the same effect by reaching out to micro-influencers in your industry and working with them to produce content about your product.
Another great example is Starbucks. Whether you enjoy their coffee or not, they’ve built the biggest coffee chain in the world by creating a brand that’s associated with convenience and experience - from their aesthetically pleasing coffee shops that have the same vibe in all their locations to going viral on TikTok when customers post their experimental drink orders.
The key takeaway from Starbucks’ brand marketing strategy is consistency. Their branding and experience are the same across every one of their platforms; something that you can implement in your business.
Why do I need a brand marketing strategy?
The main goal of brand marketing is to grow the business. As the Binet & Field graph shows, consistent brand marketing over time leads to greater growth than purely focusing on short-term sales. If brand marketing is done successfully, you’ll create an audience that sees your business as the solution to the very problem they’re trying to solve.
While sales activation is easier to measure, they tend to decline over time and it produces a series of spikes in sales rather than consistent growth. It’s an invaluable part of your business - even if it takes time. Outbrain said it best: “Fact is, you can’t put a price on positive consumer sentiment, and that’s what brand marketing is all about.”
To summarise, brand marketing is for businesses that are looking for guaranteed, sustainable growth over time. It’s easy to be swayed by the near-immediate results growth marketing offers, but it doesn’t always equal longevity. The key is finding the right balance between the two and that’ll look slightly different depending on your industry, buying process and so on. Concentrate on brand marketing to build your brand’s value and your business’s value will increase as a result.
Looking for some help with your brand marketing strategy? I can help. I have more than five years of experience helping brands build meaningful connections with their audiences and increasing conversions as a result.
I’m currently offering free fifteen-minute online consultations, during which you’ll get a brief audit of where you’re at and some actionable ideas on how you can move forward. Or if you're ready to take your marketing to the next level now, you can make an enquiry here.
