Boosting Your “Brandformance” Chops: Top Tips From Our Event
Marketers have known for a while now – brand and performance marketing are stronger together, working cohesively to maximize business impact and unlock new, integrated opportunities.
But for many brands, making the mindset shift to seeing brand marketing as a performance driver has been no easy task, especially given traditional brand marketing is not what it used to be. In our current landscape, brands that allow performance and brand marketing to work synergistically will outshine their competitors.
Our recent webinar event held with Chief Brand Marketing Evangelist at Google, Aprajita Jain, and ForwardPMX EVP, Luke Hubbard, covered a few of these brand building campaigns that leverage the same best practices that performance advertisers rely on to drive their programs forward. The pair also went over some practical applications of Google products, like YouTube and others, that can help pave the path for building a better, stronger performing brand. In this blog, we’ll cover some of the important themes and practical applications they shared that you can put in practice.
Consumers often use search and video seamlessly
There is a mindset that many performance advertisers have that tells them to invest heavily in search advertising because it is a very high ROI channel, however, when you put yourself in the shoes of your consumer, they don’t compartmentalize the actual search process like you might think. In reality, when people are researching something, they are probably going back and forth between videos, reviews and search. In fact, 80% of people surveyed said they use both Google search AND YouTube in the same research session. So, from the perspective of the advertiser, it is important not lose your consumer that you had on search when they switch to YouTube.
A strategy you can take to mitigate this is to prequalify your audience based on the behavior they displayed on Google with Custom Intent Audiences. Custom audiences help you reach your ideal audience by entering relevant keywords, URLs and apps. You can set up a custom audience in your Display, Discovery, Gmail and Video campaigns by adding specific keywords, URLs and apps related to your product or service. Google Ads will then show ads to people with these interests or purchase intentions on pages, apps and videos. So, in this case, you would tell the algorithm if anyone has used the specific keywords on Google, then and only then, show a video ad to that person. This page details how you can set this up.
Drive Consideration with online video
When you go to make a purchase, how many brands do you actually consider? If you’re like most people, it’s probably not more than two or three depending on the type of purchase. Moreover, a recent study with Google and McKinsey & Company revealed that brands in a consumer’s initial consideration set are 3 times more likely to be purchased eventually than brands that are not. And this reinforces the importance of not lingering in the awareness phase for too long.
A great method to achieving the boost in consideration is to use YouTube’s Max Consideration Lift. This method utilizes the algorithm to find out which type of consumers, demographic signals, etc. are more likely to have an increase in consideration from an ad, and it will only show the ad to those types of people. As with anything done in machine learning, the more data it has the better it will become over time. Google has seen CPA’s drop up to 40% using this technology and conversion volumes go up. So not only does it increase consideration, but it increases downstream conversions. You can read more about how to set this up here and by checking out the image below.
Follow Creative Best Practices
Creative drives somewhere between 50-80% of campaign success. A lot of times, brands will use the same video they made for a TV commercial for their online campaigns without any editing, which typically results in poor performance on the platform. If you don’t adjust the creative for the objective you have (awareness, consideration, conversion) then you are already losing about 50-80% of that effectiveness.
Get more out of branded search with CTV
With many people at home for the COVID-19 pandemic, Smart-TV sales soared, resulting in significant growth for the CTV channel. With CTV, there is more than just the awareness stage in traditional media as there is more tracking and audience targeting available. You can really hone in on the exact audience you want to be serving your ad to. At first sight the impressions from CTV may appear to have a higher CPM, but if you look at the ROI numbers, CTV is the place to be.
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