Do you know the difference between brand strategy and performance strategy? And which is the better option? We are going to answer those questions for you today so that you can implement the most successful marketing strategies for your app.
Brand marketing strategy
A brand development strategy’s purpose is to familiarize consumers with your company so that they begin to associate your brand with its logo, tagline, or anything else connected to it. The goal is to raise brand awareness and connect with consumers, which should ultimately result in sales.
Traditional marketing channels, like television commercials, radio ads, newspapers, and billboards are typically used for a brand marketing strategy, but the results are almost impossible to track.
That’s because it’s a long-term strategy, so there is no direct connection between current marketing methods and acquiring new customers.
Performance marketing strategy
This approach focuses on your strategy’s performance by measuring specific actions which can include sign-ups, conversions, app engagement, and app installs. Rather than paying for each view or click, ad publishers are only paid when the specified action takes place.
Performance marketing requires a lot of testing and analyzing, as well as adjusting strategies when necessary, but its high ROI makes the extra work worth it.
Furthermore, these results provide immediate feedback that lets digital marketers know if current performance strategies are working or if they need changing.
Performance-based advertising benefits
Focusing on performance strategies in your marketing plan can be very beneficial for your app. Here are a few reasons why you might consider taking this approach.
Instead of paying for an ad to be seen or clicked, you only pay each time someone completes a desired action. This decreases the cost of your campaign and lessens the risk of spending a large chunk of your budget on ads that don’t provide results.
Free Brand Exposure
Your brand will still be exposed and become more familiar to users even if they don’t follow the ad’s call to action. Their awareness of your app’s existence could cause them to download it one day in the future.
That might sound like brand marketing, and it is. But the difference is you don’t have to pay for users to simply see your ad.
And it’s not the main goal of your campaign. It’s more like the cherry on top of an already great advertising opportunity.
The decrease in paid user acquisition cost has a favorable effect on net income. The less it costs to gain and convert users, the more profit your business gets to keep.
Easy to Track
Your app’s install rate, engagement level, and conversion rate make it easy to determine the success of your campaign. When you know how your marketing strategy is performing, you know when it’s time to change it.
Brand vs performance strategy
Although brand and performance strategies were once two distinct methods that didn’t overlap, it’s no longer so straight forward.
Instead, they need to work together in your digital marketing funnel, with your performance strategy campaigns increasing brand awareness, and the increase in brand awareness ultimately improving the app metrics that are used to measure performance.
In today’s world, a brand strategy alone just doesn’t cut it. Rather than sending out an impersonal, mass message to as many people as possible, it’s much more effective to build relationships with potential and current app users.
When you begin creating your marketing plan, it can be easy to get overwhelmed. We can help you learn all you need to know to become a successful digital marketer.
So check out our other articles at AppRankCorner to get started on the path to success.