Find the balance between brand building and performance marketing
Over the last couple of years we've seen an increasing focus on effective, goal-oriented marketing communications. Attention and budgets moved from brand investment to performance marketing. From brand-driven to conversion-driven. From long-term strategies to short-term tactics. Now that we are facing ongoing socio-cultural and economic challenges, brands may tend towards cutting their brand building investments as the easiest cost reducing option and develop a laser focus on short-term marketing ROI. Although this may seem logical and pragmatic in uncertain times, this kind of decision-making affects brands negatively in the long run. If you do not invest in long-term brand building, your brand will lose its place in people's hearts and minds - making way for your competitors.
Opportunity
Identifying new audiences is crucial for future growth. The combination and interplay of performance marketing and brand building isn't new, but finding the right balance has never been more important. Brands that focus on their current target group and known segments will miss out on a substantial audience. That is the audience that is crucial for future growth. Performance marketing captures today's demand, but it's brand building that secures future demand.