Build a Strong Brand With a Measurement-First Approach
Explore how digital businesses are building thriving brands by challenging convention and adopting a modern mindset.
INHOUD
Having a strong brand is as important as ever: It continues to be essential for differentiating offerings, spurring action and building loyalty. However, today’s agencies and advertisers cannot simply tackle brand building in the same ways as in the past and expect to succeed. Marketing channels are quickly evolving and audience behaviors such as multiscreening are becoming the norm.
This digital-first, mobile-first age requires a new mindset. We have seen modern digital native businesses like Gymshark, Happy Socks, and Treatwell build fresh, fast-growing brands by taking a modern approach on our platforms. The foundation of this is a test-and-learn methodology: These thriving firms are relentless about measurement and iteration with their brand marketing.
To understand exactly what measurement-focused brand building entails, we examined a range of current research and interviewed digital native companies, VCs and agencies. We found that successful digital native businesses are building strong brands by taking fresh approaches across the board, including with their timing, focus, channel usage, creative development, budgeting and organizational structure. We explore each of these areas briefly below and in-depth in our comprehensive guide, A Measurement-Focused Approach to Brand Building.
Start With a Data-Driven Mindset
Marketers that have built strong digital brands say measuring and iterating are the foundation of success. A long-term test-and-learn mindset is essential because it informs every aspect of successful brand building. This approach entails consistently tracking a broad range of metrics and continually validating measurement approaches. Embracing digital is also valuable because it is inexpensive to try new brand ideas online and feedback is quick.
A key thing you need is a strong experimental culture. [Be] disciplined on what you’re aiming for, defining experiments clearly and getting the results.
— Forward Partners
We don’t do things just for a short-term return. Everything has to be on-brand; otherwise, it will kill the brand in the long term.
— Happy Socks
Build Your Brand at All Stages
Those that have successfully developed digital brands say that brand building efforts should span the entire life of the business, with a strong focus from the start and then constant iterations over time. Moreover, brand building shouldn’t be thought of as impacting only part of the customer journey; it affects all stages. Brand building throughout the funnel allows for continual opportunities to measure, learn and iterate.
Tackle Branding and Activation Together
The firms we spoke with say that what businesses often overlook is that brand building and activation complement each other in important ways at all levels of maturity. A strong brand can aid in everything from increasing the likelihood of an initial purchase to encouraging repeat sales. Given that, firms should not think of “brand” and “performance” marketing as being separate things—campaigns can and should have elements of both.
All marketing activities should help build the brand.
— eEquity
Exposure to Facebook ads clearly increases brand awareness, and the awareness effects seem to build over time, as good brand effects should.
— eEquity
Use Digital Media to Brand Build
The traditional view on brand building has been that primarily offline media should be utilized. However, digital channels are proving to be highly effective tools for brand building: A study of nine firms’ digital campaigns found Facebook advertising measurably boosted awareness and shifted brand perceptions over a six-month period.4 Those we spoke with say the keys to successful brand building with online media are to take a multichannel approach, account for mobile behavior, track performance and encourage repeat exposure.
Invest Long-Term in Brand Building
Successful brand building requires significant spend over a long period of time. Businesses that have built strong digital native brands say they have done so by allocating a large share of budget to brand marketing, by being patient and by optimizing investment through measurement and iteration. Combining channels can also help maximize the impact of spend: For example, there is a “kicker” effect of 60% higher ROI when adding digital to TV.5
We use channels based on which stage of the funnel they are suited to and allocate budgets based on their ability to drive the KPIs we set at that stage in the funnel.
— iZettle
You need to be completely joined up and have a consistent message across channels. If you don’t, customers will get confused and confusion leads to lower conversions.
— Treatwell
Test New Creative Ideas While Remaining Consistent
The firms we spoke with say effective brand building creative is forged from an iterative process that produces freshness and consistency. To strike this balance, it’s necessary to have a high volume of creative to test, to concentrate on experimenting with strategic ideas rather than insignificant variations and to keep introducing new brand concepts. Also, using online channels as a low-cost testing ground is an efficient way to determine what works.
Nurture a Test-and-Learn Culture
Finally, it’s impossible to take a modern approach to brand building if your firm does not have the right people and culture. The firms we spoke with say the keys are to hire staff who are comfortable with data, to encourage employees to view “failures” as valuable opportunities to iterate and to ensure brand expectations are clearly shared across teams. Most importantly, leadership must set the right example by letting insights, not ego, drive brand decisions.
Start building out a strong analytics and measurement function in-house. It will save a lot of time and money in the long run as you’ll know what is and isn’t working.
— TransferWise
What it means for marketers
Brand building and activation go together.
Brand and performance marketing should be thought of as working hand in hand.
Embrace digital channels.
Online media should be at the forefront of a multichannel brand building approach.
Balance freshness and consistency.
Test fresh creative approaches while maintaining brand consistency.
Build a data-first organization.
Nurture a culture that embraces measurement and experimentation.
A Measurement-Focused Approach to Brand Building for Digital Native Businesses