Volume 21 No. 3: Brand is more than a buzzword

This week, we reshared a favorite podcast episode from our archives that’s all about brand awareness. What is it really, is it over- or under-hyped, and how do you measure its impact? 

 

Fame-focused campaigns reduce price sensitivity by 8%.    

That’s compared to just 3% for other campaigns. Long-term campaigns that prioritize emotion and brand memorability see greater price elasticity and profit according to research from the IPA. 

 

The value of being known.

There’s a rift in the marketing world: brand versus performance-first, data-driven marketing. But what if the data supports brand-building? 

Far from being expendable, brand awareness is crucial for long-term success and sustainable growth. It starts with building mental availability and ensuring your brand emotionally and rationally resonates with consumers. Next, physical availability, especially in digital spaces, is crucial. Today, being easily accessible online is as important as traditional shelf placement in stores. And finally, mere exposure has value. Simply seeing a brand more frequently affects buyer behavior down the road. 

Neglecting brand awareness in pursuit of immediate performance metrics alone is like building a house without a foundation. Your work will eventually crumble. 

Of course, this isn’t to say short-term performance marketing isn’t also vital. Both are necessary for success.  Listen in on our discussion.

“Measuring Campaign Effectiveness Over Time”    

This review of Les Binet and Peter Field’s update to “The Long and Short of It” covers the top findings from their research with a focus on the role of brand in driving lasting success. Read the report. 

 

Be the brand that’s noticed.    

“Buyers, in effect, ‘decide’ not to consider the vast majority of brands on the market. Instead, they notice only a few and quite often, only one.” 

—Byron Sharp, author of How Brands Grow