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Building Brand Equity Through Performance Marketing

Author: WC.Bear
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Building brand equity is a critical part of growing your business, but it’s often seen as a long game, primarily achieved through traditional branding efforts. However, performance brand marketing offers a dynamic approach, blending the measurable, results-driven tactics of performance marketing with the strategic, brand-building initiatives that cultivate long-term customer relationships and loyalty. 

This method accelerates growth and establishes a strong, recognizable brand in a crowded market space. Through performance brand marketing, businesses can achieve immediate results while laying the foundation for lasting brand equity.

What is Brand Equity?

Brand Equity: Definition, Importance, Effect on Profit Margin, and Examples

Brand equity is the value a brand adds to a product or service beyond its functional benefits. This value can influence customer choice, leading consumers to prefer one brand over another, even when the products offered are similar in functionality.

Brand equity is built through customer perceptions, experiences and associations with the brand, making it an intangible asset. It encapsulates the “heart and soul” of a brand as perceived by customers, affecting how they feel about and interact with it.

High brand equity means a brand is well-known, trusted and preferred by consumers, leading to several benefits, such as:

  • Increased brand awareness. Consumers are more likely to recognize and consider your brand when making purchase decisions.
  • Enhanced brand image. Positive brand associations create trust and loyalty, making consumers more receptive to your products or services.
  • Premium pricing power. A powerful brand can command a premium price compared to its competitors.
  • Customer loyalty. Loyal customers become repeat buyers and advocates for your brand.

Apple, Nike and Coca-Cola are classic examples of brands that have built extremely high brand equity. They are instantly recognizable and trigger positive feelings, translating into customer loyalty and success in the marketplace. These brands have become more than just names; they’re symbols of quality and reliability that people trust. Performance Marketing Explained

Performance marketing focuses on achieving specific, measurable goals through marketing campaigns. You only pay for the desired results, such as clicks, conversions or sales, making it a cost-effective approach.

Performance marketing success relies heavily on analytics and key performance indicators (KPIs). By analyzing data, you can understand what’s working and adjust your strategies for continuous improvement.

Key characteristics of performance marketing include:

  • Measurable results. Performance marketing uses data and analytics to track campaign performance and optimize strategies for better results.
  • Targeted campaigns. You can target specific demographics and interests, ensuring your message reaches the right audience.
  • Multiple channels. Use varied channels like search engine marketing (SEM), social media advertising, affiliate marketing and email marketing to reach your target audience effectively.

Strategies for Building Brand Equity Through Performance Marketing

Performance marketing isn’t just about driving immediate sales; it can also help build brand equity long-term. Some strategies your team can implement to achieve short-term goals as well as future growth include:

Enhancing Brand Awareness

5 WAYS TO INCREASE YOUR BRAND'S AWARENESS ON SOCIAL MEDIA

To start, focus on increasing your visibility and reach. This can be achieved through high-quality SEO and content marketing. Create valuable content that addresses your target audience’s needs, increasing brand visibility in search engine results.

Also, take advantage of the popularity and reach of social media platforms. Engage your audience through storytelling, interactive content and influencer collaborations to build brand awareness and establish a human connection.

For example, in 2018, luggage brand, Away, implemented an influencer collaboration program on Instagram that promoted their products and contributed to increased brand awareness. Partnering with travel influencers expanded Away’s reach and generated positive engagement, showcasing the potential of a performance branding agency to enhance brand visibility.

Creating Positive Brand Associations

Brand Association : Meaning, Importance, Types and Barriers - GeeksforGeeks
Ref: https://www.geeksforgeeks.org/brand-association-meaning-importance-types-and-barriers/

Once you have people’s attention, the next step is to build positive associations with your brand. You can achieve this with strategies like affiliate partnerships. Work with reputable affiliates whose values resonate with your brand to reach a wider audience and build trust.

You must also make sure that you maintain a consistent brand voice and visual identity across all marketing channels to build brand recognition and reliability.

For example, TOMS, the socially conscious shoe company, consistently uses performance branding campaigns focused on their “One for One” model, where they donate a pair of shoes to a child in need for every pair purchased. This consistent messaging across channels strengthens their positive brand image and appeals to socially conscious consumers.

Improving Perceived Quality

After building a strong brand image, it’s essential to keep improving how customers see the quality of your products or services. You can do this in many ways, but one of the best methods is user-generated content, like customer reviews and testimonials.

Share positive customer feedback in your marketing materials to build trust and showcase product benefits. Potential customers are more likely to accept recommendations from other customers and users than celebrities or branded marketing.

However, targeted ads can also be an important part of promoting a certain image of your brand. Highlight key product features and benefits through targeted ads to educate consumers about the value your brand offers.

For example, Gravity Blankets, a premium sleep and wellness company, uses targeted Facebook ads highlighting awards and accolades earned by its weighted blankets to shape perceptions of its superior quality compared to competitors.

Fostering Brand Loyalty

Cultivating Customer Loyalty: The Key to Long-Term Business Success
Ref: https://www.linkedin.com/pulse/cultivating-customer-loyalty-key-long-term-business-susan-iur5e?trk=article-ssr-frontend-pulse_more-articles_related-content-card

Finally, turn brand-aware customers into loyal brand advocates with email marketing. Engage with customers through personalized email campaigns, offering targeted promotions and loyalty programs to encourage repeat purchases.

You can also use performance marketing channels to promote exclusive offers and reward programs. This builds customer loyalty and can encourage brand advocacy.

Sephora’s Beauty Insider program is a successful example of implementing performance marketing tools for loyalty. They use personalized email marketing campaigns to offer exclusive discounts, birthday rewards and early access to new products, ultimately driving repeat business.

Balance Short-Term Gains with Long-Term Brand Goals

Effectively using performance marketing alongside a strong brand strategy can help you achieve immediate results while building a lasting brand legacy. Remember, building a valuable brand requires a long-term commitment and performance marketing can be a powerful tool in this journey, driving measurable results while strengthening your brand in the minds of your target audience.

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