The associate director, Brooks and Blake Nigeria Limited, Dr Oludare Ogunyombo has said that contemporary brands are conscious of projecting themselves as top-of-the-mind above competitors.
He, therefore, charged such brands to invest in building strategies that create awareness and emotional connection if they must present convincing reports of their return on investment.
Speaking with newsmen, the PR professional added that both performance and brand-building strategies are complementary to the success of creating a complete and high-impact plan that will drive both short term revenue goals as well as long term brand-building goals for brands.
He encouraged brands to embrace performance marketing strategy to enable them measure budget effectiveness in order to determine the appropriate return of the marketing investment.
“Every brand aspires to succeed; to remain top-of-mind of its customers. Performance marketing will be a good addition to whatever marketing strategy a brand is deploying. Do not forget that brands are now, more than ever, paying close attention to what I may describe as effective spending of their funds – effective in the sense that most brands want to spend less and get more. Therefore, performance marketing may be a major consideration going forward,” he said.
Reaffirming that it has increasingly become imperative to measure the impact of marketing campaigns in demonstration of its value, he added that both strategies are complementary as each needs the other to be effective in both enhancing the various touch points of consumers and also harness the means of understanding the impact of a brand’s marketing budget.
“In my opinion, performance marketing also contributes to brand building. In fact, without building your brand first, performance marketing may be difficult, because the question would be: ‘which brand are we servicing?” he asked.
Suggesting how marketers can use digital media as a two-headed sword with performance and branding, Dr Ogunyombo said, “digital media has come a long way in defining and redefining how marketing is done.
“Largely, performance marketing in its current shape has been conducted on digital platforms where measurement drives what you get at the end of the day. In engaging with digital media, marketers want to be as conversational as possible with their potential customers.
“The engagement must be customised and tuned to what consumers desire. Marketers must know that the attention span of a digital audience is short, so they must ensure that they catch the attention with brevity.