Snapshot of Survey Report by LinkedIn Marketing Solutions
3702 Marketers|9 Industries in North America, Latin America, Europe, and Asia Pacific.
First of All, What is Brand Marketing:
Brand Marketing is creating memorable links between the brand and relevant buying situations such as thought, mission, values, etc and
Demand Marketing is about providing rationale behind purchase providing short term growth, creating a high experience to the key audiences to drive sales.
Brand Marketing is a long term effect which generally clashes with ROI of Marketers budget as they also have a pressure to provide immediate results.
As per the survey, #1 barrier to the brand building comes as an inability to see short term results mentioned by 45% of respondents whereas approx 40% says that they are unable to map to conversions.
Why to invest in brand
The report says it restores your brand power, premium prices that buyers are willing to pay lead to lower acquisition costs in longer-term thereby improving financial performance.
Important Conclusions from Report
- Leveraging Acquisition and Growth Strategies
- 75% of Marketers believe that Cross-Selling is important and acquiring a new customer and selling to existing customer brings 1.6 X Performance
- Surprisingly, In India, 75% believe customer loyalty can help the business grow steadily not by customer acquisition
Brand Campaign: Ad Consistency, Reach and Duration
- 79% of Indian Marketers run their campaign for less than 6 months, However, there is good scope to run for more duration
- The report says that 60% of the budget should go for Brand Marketing creating demand in the long run in the B2C segment, whereas in B2B, It can be 46% for Brand Marketing and 54% for Demand Marketing
Short Term Demand Generation & Long Term Brand Growth
- 97% of Indian Marketers are measuring ROI in less than 3 months, Since Average sales cycle is of 6 months, and Report has strongly recommended marketers to slow down when it comes to measurement.
- Targeting too narrow would be ineffective as it ignores buying circle and future buyers.
Grow by Reaching More Customers
- 55% of Indian Marketers don’t believe in broad marketing but hyper targeting. Generally 6.8 people are involved in each B2B decision, Consider expanding reach beyond existing decision makers to create opportunities for growth whereas globally 69% feels the same.
- Buying Decisions
- Rational Ad brings short term sales in demand marketing whereas brand marketing reflects long term sustainable growth. Emotional Ads are better for brand marketing and rational ad linking to immediate sales.
- Marketers in India are 3X likely to produce rational ad than emotional but that approach don’t bring long term brand build effects
Conclusion: Balance your Investment in BRAND and DEMAND.