If you are learning about Facebook ads and mastering them to the core, then it is important to understand how a brand works and market it for greater success.
Facebook invites you to run brand ads and it can be used to reach a wider audience.
These types of ads can help make people aware of your product, to create a loyal audience.
But why is brand marketing important?
If you want to build a sustainable business and not over-rely on performance marketing where you will only spend millions of dollars on ads, bidding on expensive keywords, and keeping up with your competition.
Eventually, you will run out of money ☹
That’s where branding comes into play.
You can’t make higher ROAS without branding.
Brand marketing will help create a loyal audience for your business rather than performance marketing.
Let’s say on Google, with my personal experience, the moment you run some brand campaign, you would see the searches for your brand keywords increasing. This applies to Facebook too.
Why is it important?
The cost of acquisition via brand keywords is way lesser than generic keywords.
This happens because people are aware of your brand.
If we understand what exactly brand marketing is,
For me, it’s the first word that comes to mind whenever you hear the name of the business.
When you hear the word “Nike”, what is the first word that comes to your mind?
The word “apple”?
“Audi”?
I can hear all the answers sitting in the middle of nowhere, 20000 Km away from you guys!!
Suppose one of your friends asks you to buy a luxury car!!
Depending on the budget, a name will pop up in your head.
(For me, it would be Audi)
This is how a certain brand has positioned itself to the audiences.
There are hundreds of flight companies that generate a ton of revenue.
But why do people choose indigo?
Due to its affordability, hospitality, and well-behaved staff.
Branding would be the most intangible asset of a firm.
As a marketer, you should be able to create enhance, and protect brands.
You understand the brand thoroughly, its mission and vision, and ask yourself.
How can I manage this brand differently?
1. Larger margins
You can expect larger margins. For example, a jean of Levis and normal jeans. You know the quality of jeans; Levi’s is a very big brand so they can ask for more price. Although they need some reasoning behind it. They might say “We provide the best quality”, or “We have the best fabrics”.
But other brands are using the same sentences and still cannot ask for more.
Why?
Because people like you and me would like to associate with a great brand.
2. Greater Loyalty
This is similar to larger margins. Loyalty comes from constantly providing good services to the customer and maintaining a relationship for a lifetime. A perfect example is Apple users.
3. Less Vulnerability to marketing crises and competition
Let’s go back to the pandemic days. During that time many brands sustained just because they had a loyal audience.
If people have understood the value of what you provide, it doesn’t matter any competition.
4. Higher inelastic consumer response to price increment
First, let us understand what elasticity is.
When I say a product is very elastic, that means a small increment in price can lead to lower sales.
But if I decide to increase my price the sale does not go down.
Let’s take BMW this time, People who can afford and see, that they have increased the price by 5% or 10% which is a big number.
Are these people not going to buy the product?
Not a chance
They have a unique brand positioning due to which people are ready to buy whatever the prices may be.
It’s not at all elastic.
5. Improved perception of product performance
If a business has a good brand, people will feel something good. The product keeps on nurturing and making good products and most businesses work from customer feedback.
Three steps are involved in brand building.
You decide to come on Facebook or Quora and start running brand marketing ads or video ads. This is not how it works.
Whenever you are building your brand, these three things should come to your mind.
1. Brand Strategy
- Product differentiation, Trustworthiness, Recall
- It will convey your purpose, Promises, and how you solve problems for people.
Components of Brand Strategy
1. Brand discovery
2. Competitor research
3. Target audience
4. Brand Voice
5. Brand message and story
2. Brand Identity
Brand identity is the way that you convey this to the public with visuals, messaging, and experience. This part is the face of your brand.
Components of Brand Identity
1. Logo
2. Colors and Fonts
3. Patterns and icons
4. Website design
5. Content and messaging
6. Advertising
7. Print or packaging
3. Brand Marketing
This is where you start to spend your money. Let your clients know what problems you are trying to solve and associate with different brands.
Brand marketing is the way that businesses or organizations highlight and bring awareness to products or services by connecting values and voices to the right audience through strategic communication.
First understanding brand lift is crucial.
Let’s say you want to run a brand marketing campaign and you can run it across many channels without relying on Facebook ads.
You can run brand ads on The Times of India website or Inshorts.
When you have spent 4 Lakh rupees across these channels, what would be my lift for my brand?
When I say lift that means, all the people who were not aware of my brand. Are they aware now?
What is the increment lift that you got via brand marketing campaigns?
Recently we were studying the case of Airbnb. They have done a tremendous job reducing their performance marketing budget by 15%.
15% for a global brand is huge.
They have made greater investments in building the brand by saving 25% cost.
Ultimately doing this, they didn’t see any decrease in revenue that they were doing.
Even if, 20% budget is spent less on the overall marketing budget, they will still be able to get people to convert.
This way, they do not have to spend more than necessary whenever they want to run performance marketing campaigns.
People will come to you via organic channels.
Deciding to follow this with a strategy will take you ahead of your competition because businesses nowadays prefer to run ads which is the easy way.
I have a ton of information lined up for you: