Our CEO & Managing partner Carolyn Walker recently met with Cordes Owen on his The Law of Relevancy podcast to discuss all things “brand.” They deliberate over the proper breakdown between performance vs brand marketing, how bathrooms are a fantastic customer touchpoint, and the fact that brand can trump price point when it’s done right.
Listen here or get the “Cliff Notes” version below:
Brand vs. Performance Marketing: Brand and performance marketing are not opposed to each other; they complement each other. Both can have a positive impact on each other when done well.
Importance of Branding: Brand marketing, as described, focuses on creating a long-term relationship with customers. It involves attracting a broader audience, including prospective customers, team members, investors, and creating an emotional attachment by communicating not just what a business does, but why it exists.
Customer Perception and Branding: Customer perception drives a brand, and this perception is heavily influenced by the overall experience. Everything, from the physical space (like a restaurant’s ambiance and restroom cleanliness) to the interactions with staff, contributes to the brand experience.
Balancing Branding and Performance Marketing Budgets: Studies suggest a recommended split in marketing spend: around 26% for performance/74% brand in B2C and a more even split (50%/50%) in B2B. However, branding isn’t just about advertising; it encompasses various touch points with customers.
Storytelling and Differentiation: Storytelling is a potent tool for branding. Sharing a clear and engaging story rooted in the brand’s core belief creates enduring, impactful marketing assets.
Customer Journey Mapping: Understanding the customer’s journey helps identify touch points, opportunities, and areas for improvement. This might include unexpected areas like the experience of picking up takeout orders and how a business can enhance this experience for customers.
Expert Guidance and Small Agency Approach: There are benefits to seeking expert guidance for brand strategy and acknowledging the importance of a process that involves customer perspectives. Response Marketing aims to maintain an intimate relationship with clients, focusing on being a valued partner.
Response Marketing appears committed to their expertise in branding strategy and intimate client relationships, concentrating on being selective in their partnerships and delivering high-value guidance to their clients.