If you’re familiar with the world of marketing, you have most likely heard the terms ‘brand marketing’ and ‘performance marketing’.
If not, the definition of these terms is simple: Brand marketing is when a business markets themselves in a way that elevates the brand as a whole, and performance marketing is when a businesses marketing efforts are set to drive measurable results.
Distinguishing between brand and performance marketing is vital for B2B companies who want to refine their marketing strategies. These two strategies both differ and compliment each other, and understanding this will help businesses to best allocate their resources and ultimately improve return on investment.
Read our helpful blog post now for insight on brand vs performance marketing and why both of these are important for your B2B business growth in 2024 and beyond.
Brand marketing explained
As touched upon, brand marketing is all about building a long-term relationship with your audience. This may involve an emphasis on your company values and mission, and this approach focuses on creating brand awareness and loyalty by engaging with customers on a more personal level.
For example, for a tech company, sponsoring a local tech event might not yield immediate financial returns. However, it does demonstrate your commitment to the industry and can strengthen your brand's reputation overall, contributing to long-term business growth.
What is performance marketing?
Performance marketing is action-oriented and designed to encourage certain actions from the target audience, with measurable outcomes. This approach allows for detailed tracking and analysis, utilising popular digital marketing tactics like PPC, social media, and SEO. It’s highly targeted, aiming for quick results such as lead generation, conversions, and sales.
For instance, using a tailored PPC campaign to increase trial sign-ups for your software allows you to measure success in real time. With this, you can adjust strategies as and when needed to improve campaign performance.
Combining brand and performance marketing
It’s important to balance brand and performance marketing based on your business objectives, as neglecting either of these can hinder your marketing effectiveness.
Brand marketing builds trust and loyalty amongst your customers, and this, in turn, is essential for the success of performance marketing campaigns. Without a solid brand foundation, it may be difficult to achieve the desired action from your target audience. Conversely, focusing only on brand awareness without actionable strategies can cause you to miss out on immediate growth opportunities.
When businesses combine tactics like brand and performance marketing with other useful marketing trends such as market segmentation, they can yield even better results! Read more about market segmentation in another of our blog posts.
Tailoring your strategy
Finding the right mix of brand marketing and performance marketing depends on your specific business goals, and the needs of your target audience. There’s no one-size-fits-all answer; it’s all about finding the best balance that aligns with your objectives and maximises your marketing investment.
If you want to make sure you’re utilising brand and performance marketing tactics for your own business, we can help. Contact Recall Marketing today and we’ll offer you tailored advice that aligns with your brand and performance goals.