Brandformance is, as you may have guessed, a blend of branding and performance that has shifted the digital marketing paradigm. Previous schools of thought relied more on brand building, but this is only one side of the coin. The brand building tells your story and creates a loyal following, but without the goal-based performance marketing aspect, it is impossible to effectively measure how well your strategy works.
It's 2024, and living in the era of social networks means that companies need a reliable way to measure the return on their marketing investments, otherwise, they'll be left behind. This is where brandformance comes in. It solves the problems of both remaining topmost in customers' minds and continuing to build your brand according to data-oriented results. In fact, a recent eMarketer survey found that 56% of global brands saw better results when they dismantled the traditional siloes of branding and performance and implemented a blended approach instead.
So, let's look at five strategies for growing your reach with a brandformance approach.
Before you can really dive into brandformance, it's crucial to make a comprehensive evaluation of your current performance marketing channels. This includes taking an honest look at how well your existing performance marketing infrastructure is working across channels and how your........