Adidas recently made headlines after admitting that “We had an understanding it was digital advertising driving ecommerce sales, and as a consequence we were over-investing.” They learned the hard way that, by focusing primarily on reducing costs and ignoring long-term branding, they were devaluing their overall brand and products.
With the growth of online channels, short-term strategies are the central focus for many businesses, causing them to lose sight of long-term brand building—a costly mistake. Extensive data reported by Peter Field and Les Binet shows that the ideal advertising ratio of brand-building to performance is 60:40. Here’s how to drive short-term sales all while building a long-term brand response.
Increase Brand Esteem.
Volume-based, short-term goals can be detrimental to the value of your product or service. Move away from steep discounts and towards rewards or gifts and toward building long-term trust and relationship with consumer.
Reach New and Existing Consumers by Giving Worthwhile, Consistent Advice.
New and existing customers alike appreciate insight on the problems they are struggling wit and learning how you can help.
Tell Your Story.
Quick bits of information go by in a blur, whereas a narrative has longevity. Consumers who learn in-depth about your product or service’s features and benefits will be able to make an informed purchasing decision on their own.
Prompt Prospective Consumers to Take Action.
Give worthwhile insight, present trusted information and encourage readers to learn more by visiting in person, online or via phone. Over-investing in quick, performance-based marketing strategies can be tempting, but if you stay the path with long-term branding efforts, you can protect the value of your product or service, thereby increasing your credibility within your consumer base and beyond.
Jeanne partners with Best Version Media (BVM), one of the fastest-growing private publishing companies in North America, to produce East Fishkill Living, her hometown monthly magazine, and works with colleagues on a number of similar glossy publications around the Hudson Valley, Westchester County, Rockland County and Connecticut. If you have target audiences in those areas, contact Jeanne to learn more. Thanks to BVM for portions of this content.