Take Charge of Your Brand With a Balanced Marketing Strategy

There has always been pressure on marketers to deliver measurable ROI for their efforts, but as the world looks toward a post-pandemic future, that demand for growth is sharpening. Nielsen’s evp of marketing analytics, Tina Wilson, and American Family Insurance’s vp of marketing, Sherina Smith, joined Brandweek last week to discuss the importance of a balanced marketing strategy and how long and short-term initiatives can work to deliver along the path to continued brand viability. The answer is balanced marketing Balancing priorities between upper funnel and lower funnel KPIs is no easy task. But Wilson and Smith have learned valuable lessons in their quest to achieve balanced marketing strategies that produce growth. Most importantly, each funnel has its benefits and challenges. “Upper funnel is about awareness and equity and owning hearts and minds with unique and consistent real estate in our consumers’ minds,” said Smith. “It sounds great. But, it can be really hard to measure. It also has a delayed impact and requires sustained investment which can be difficult to maintain.” In today’s world of instant gratification, it can be extremely challenging for marketers to be patient and stick with their upper funnel efforts, despite what might look like constant setbacks and a never-ending journey. “We can be tempted to distribute resources to lower funnel tactics, which may get the short-term wins, but can lead to brand denigration,” said Smith. “Ultimately, like a gardener or farmer, overworked land without seasons of rest can yield less fruit.” Smith says the pain point for marketers is around balancing the desire for quick wins and distributing resources to the lower funnel to get them versus the patience that’s required to build brands at the upper funnel level. Full-funnel marketing, long-term growth Wilson and Smith agree that focusing on the entire marketing funnel is key for long-term growth. “If you think of brands building relationships with consumers, they need that constant nurture as part of it, like any healthy relationship does,” said Wilson. Even if a marketer is convinced of the benefits of a long-term strategy, it can be challenging to convince other team members. One effective tool marketers can bring in to plead their case is data. “Using that empirical evidence and showing the proof of what the return is on the investment—both in the short and long term—is to be able to identify that and measure it,” said Wilson. “The best way to be able to manage something starts with the measurement of it, so you know where the levers are.” Smith says that she’s leaned into strong partnerships as part of her full-funnel marketing strategy. “We align with our finance team and other business partners on the norms of what each marketing tactic will drive in business performance. We share our plans so that everyone is aligned with our budget, our measurement and our forecast tools,” she said. “We’ve also learned that sharing the result of what’s working, and the shifts we make when we learn something is not working, has been key to educating on full-funnel marketing and helping marketing build credibility with our partners.” Nielsen Sets 2022 Pivot to Impressions-Based Local TV Buying

Brandweek

How to Take Charge of Your Brand With a Balanced Marketing Strategy

Balancing priorities is key for long-term awareness and growth

The answer is balanced marketing

Alexandra Bower

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The answer is balanced marketing

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Alexandra Bower