In the world of performance marketing, we handle all types of brand marketing. Mostly, our clients are either starting to grow and looking for experts who know how to scale or unhappy with their previous agency. Performance marketing, in short, is? brand marketing based on metrics.
In the past, it was easier for agencies to get away with managing accounts without delivering results. However, brands now know their KPIs and demand results from performance agencies.
There are a few key differences between marketing a new brand vs marketing an existing one. In this article, we’ll take a look at our own experiences with both.
Brand marketing for a new launch
When we talk about brand marketing and a new brand in the same breath, we don’t necessarily mean “new”. What we mean is that they’ve got to the point where they are somewhat established. Why? Well, working with an agency not only costs money, but they need to know that you’re serious.
It’s not only brands burned by underperforming agencies. A lot of the time agencies put in loads of effort only for the brand to not have the capital or stock to meet the demands of their new customers.
However, we have, in the past, launched a brand right from the beginning. The capital and vision were there, but it ultimately struggled to get off the ground for a number of reasons.
Launching a brand is probably one of the most difficult things for someone to do. The online market is saturated, there’s always something similar but cheaper, and building trust takes time.
Another difficulty of brand marketing is that even the most pessimistic brand owners always have high expectations of performance agencies. And they should. But sometimes the interest just isn’t there. Or, the agency needs a little more time to build audience lists, generate interest and start hitting the ROI and MER that you want.
That’s why it’s all the more important to do proper research before launching a brand. This isn’t only about the performance agency you want to work with, but customer research. It’s necessary to get a feel of the interest in what you’re selling, prices people are willing to pay, and the likelihood that they’ll buy again.
Finally, the key to launching and marketing a new brand is patience. You may have a brilliant USP and product, but even the best had to establish themselves. It might take a little more time, but the rewards are there from having a performance agency guide you.
Marketing an existing brand
The continued existence of a brand depends on the marketing. Every brand needs a defined vision of how they want the world to perceive them. As a result, brand marketing is crucial to achieving this. If done correctly, first-time buyers will turn into repeat customers, and eventually, your brand will become entrenched in the minds of many.
As a performance agency in the fashion industry, many clients of ours come to us for two main reasons:
- They’ve started exponentially growing and need help scaling further because they lack the expertise.
- They’re unhappy with their current agency and hope we can turn their fortunes around
It’s always good to keep in mind that the world of online stores is cutthroat. And never so much as today. There are millions of stores around the world who sell almost identical products. At the same time, they market themselves in the same way.
For performance agencies like us, it’s not even about doing the basics anymore. We have to go above and beyond to guide brands in navigating this highly competitive landscape.
When it comes to brand marketing and an existing brand, it’s almost akin to reinventing the wheel for performance agencies.
If the brand has shifted agencies due to poor performance, it’s about revamping the ad account and other sales channels. These are usually email and SMS, where high ROI thrives and allows us to hit MER targets.
Once our own framework has been put into place, we can start focusing on scaling the brand.
Brands that have become established quickly sound like they’ll be better, but they can be tricky too. The reason is that they’ll often demand exponential growth from the beginning. However, there could be other intricacies like not having enough repeat customers to sustain said growth.
Being a performance agency, we’ve seen and experienced every sort of situation you can imagine. It isn’t always easy being on the brand or agency side. However, there’s nothing like hitting record days due to your brand marketing strategy. It’s what keeps the world moving as the amount of online stores continue to grow.