The Importance of Brand Awareness
Converting online users into customers - this motto is one of the main USP’s we follow and an idea we believe we are extremely knowledgeable about.
While our performance marketing services focus heavily around ticket sales, ecommerce, OTT subscriptions, and more, we recommend that our clients do not neglect the basics of brand building, in favour of a shorter term return. When brands see €1 in ad spend resulting in €2 or more in value, the instinct can be to push more budget towards the campaign tactic that will yield the biggest return.
However, if brands were to only invest where they would see a high return, they would essentially neglect a vital source of value. It is imperative that brands look at a bigger picture (lifetime value of customers) and understand that the cliche, ‘you need to spend money to make money’ does not only refer to sales campaigns. Conversion-focused, or Direct Response campaigns, can perform very favourably to a certain extent to drive sales of your product/service. However, without prospecting new users, after a certain amount of time the potential line of customers will become exhausted, resulting in a marketing plateau of sorts.
It is essential to build a brand strategy that focuses on both Direct Response, but also Brand Awareness campaigns. This will allow brands to increase profits, but also continue to expand their consumer bases and steadily grow the audiences they can speak to, and thus, increasing overall lifetime value. According to Altimeter by Prophet’s 2019 global survey, 61% of marketers use Customer Lifetime Value as the primary metric to measure digital marketing success, closely followed by Direct Revenue (eCommerce or Sales).
Similarly, Kantar’s Media Trends & Predictions 2020 report outlines that this year we will see many examples of brands seeking to redress the balance between short-term performance marketing and long-term brand building. This will mean more attempts to bring brands to life and build closer connections with consumers.
Imagine that your brand sells apples, but no customers know that your apples are sweeter, crisper, juicier and cheaper than their usual choice? Without consumer knowledge, brands cannot survive with merely a good product/service. Instead, you need that crisp, ruby red apple (your compelling selling point) that cuts through the competition and allows brands to stand out. This is where brand activation and strategy development truly come into play.
If a user was served a cold advertisement for these apples, i.e. they have had no connection with your brand and are unaware of your product, they are unlikely to purchase over other brands. However, if they have been served advertisements previously by your brand and are at the top of your funnel, over time, they are likely to be pushed further and further down the funnel towards one or more purchases.
That is a simple illustration of how brand awareness campaigns and conversion campaigns work in tandem to drive sales and increase your customers. An even simpler way to put it, is if you want people to take action, they need awareness, interest, or emotional connection before they can make that decision. Users know the quality of Netflix and its services, irrespective of whether or not they have a Netflix membership.
Most brands take the time to develop their digital strategies and we believe that it is an essential part of a brand’s overall marketing strategy. There is not a one-size fits approach for every company, as there are many ways to activate a brand - through experiential events, influencers/ambassadors, TV commercials, sponsorships, radio stings and so much more. Merely, finding ways to share your message with the right people at the right time is the easiest way to begin.
While MACE is a household name in Ireland, they sought an additional way to stand out from the competition and continue to increase their audience base. MACE partnered with Johnny Sexton as their newest brand ambassador in the Autumn of 2018. This partnership’s aim is to create further awareness and strengthen the brand, all while supporting local communities - something MACE has been doing for almost 60 years.
Fifty-Three Six has successfully activated MACE’s partnership with Irish Rugby star, Johnny Sexton across a multitude of campaigns. Specifically, last September, MACE set out to activate its brand around the impending excitement of the Rugby World Cup. We created, produced and integrated a three-part video series, Breakfast’s In the Bag, into a multi-channel digital strategy to activate the partnership between MACE and Johnny Sexton.
We put a strategy in place to continue to support and build the MACE brand online, with an essential goal of establishing that crucial connection with the right audience. This campaign worked in tandem with MACE’s above-the-line media plan to increase brand awareness and recall in the overarching 2019 MACE marketing strategy. This is just one example of work we have done towards increasing a brand’s awareness in the market and it will not be our last.
Our work allows us to hit many parts of our clients’ digital marketing objectives and goals - from customer acquisition, brand awareness, direct response, lead generation and more. We believe it is an important part of a brand’s overall business strategy to focus on a multitude of marketing objectives in order to increase the value of your brand to your customers and vice versa. It is imperative not to become too focused on short-term sales, and instead look to build your brand, establishing a connection with your target audience.
Fifty-Three Six is a full service marketing agency with expertise in digital strategy, performance marketing, video production and creative design.
If you or your company need any support across these aforementioned services or just fancy a chat, please get in touch with us. We’d love to hear from you!
