Brandbuilding Turns Your Business Into a Growth Machine
If youâre patient⊠đïž
Branding is a long-term investment that creates recognition, trust, and preference among consumers. An effective branding campaign should run for at least six months, and if the ads are good, they can remain relevant for up to two years (!).
The graph below shows the impact of brandbuilding compared to promotional campaigns.
A good rule of thumb is to allocate 60% of your marketing budget to branding and 40% to sales activities, but it depends on the business.
Consistency Builds Recognition
Small and medium-sized businesses often donât have enough budget for their material to become "overused" or for consumers to get tired of their campaigns. Yet, we make (often unnecessary) changes to ads because weâre tired of them and want to try something new. This is risky because consistency is what creates recognition.
To convert a customer, itâs said you need to reach them 7â9 times before they make a purchase, and using 3â4 digital channels yields the best results.
Preparing for Future Sales
Only 5% of the market is ready to buy at any given time. You need a broad reach for your campaigns to target the remaining 95%. Five percent of an audience of 100,000 will give far less buyers than reaching one million or everyone in the city!
Since you never know where your next customer will come from, itâs vital to stay visible and build a strong brand. The goal is always to be the first choice when the need for your product or service arises. Being top-of-mind is still a valuable position ;-)
Many purchases are impulsive, and you can excite customers with ads and offers. However, a plumber or car dealer needs to speak to their audience long before theyâre ready to buy. Itâs hard to convince someone to purchase an extra toilet đ
If youâre not the market leader, avoid discounts and sales to protect your profit margin, they could be fatal for your business.
Think Like the Big Players
Large brands like Tesco, BMW, and British Airways are always present across multiple channels, continuously building preference for their brands. Notice how they alternate between ads that promote prices and those that make us smile or dream.
Budget Allocation for Optimal Growth
A balanced allocation of your marketing budget between sales activities and branding is crucial for your businessâs growth and reputation.
Nike is a brilliant example.
Their ads rarely talk about their products. Instead, they feature images of famous people wearing their sneakers, highlight achievements, and arenât afraid to express bold opinions when it comes to sports. This builds the brand on a deeper, emotional level.
Sales activities deliver immediate results, but branding ensures long-term growth and loyalty.
When you invest in your brand, you create a foundation that makes sales activities more effective. You attract customers rahter than chasing them.
Unique Benefits of Online Newspapers and Magazines
Online newspapers and magazines offer unique opportunities for brandbuilding. These channels have less noise than social media, reaching consumers in a mode where they are more receptive and spend more time.
When we read magazines, weâre in a different mindset, we take our time, scroll slowly, and notice what we see. This gives brands a chance to make lasting impressions.
Branding isnât just about being seen; itâs about being remembered.
A strong brand stands out in a crowded market and builds emotional connections that create loyal customers. This is what makes branding an essential part of any marketing strategy, regardless of the industry.
Visibility Is the Key to Growth
Clicks are nice, but visibility is what matters if you want to grow.
Lyll offers access to 6,000 online newspapers, magazines, and industry sites across Norway and Europe. Youâre sure to find your buyers here.
Good luck with your continued growth đ·
Sincerely,
The Marketers at Lyll