Branding in Startups
Branding is not the most important thing to do right away when starting a new business, but it becomes of increasing importance when you strive for a relevant chunk of market share in a competitive environment.
Brand Managers from 40 Startups
We talked to 40 Brand Managers from startups and fast-growing consumer brands. All of them were strongly KPI-driven and felt the urge to track their marketing success — and their contribution to the company’s bottom line. This, we heard, was quite challenging for most of them because their entire organization had been growing on a simple equation: “High Revenue = Good (Performance) Marketing.”
Tracking marketing campaign performance via different channels
Tracking the impact of single campaigns is the most common thing in a world of online marketing activities. Transferring this to a world of discontinuous customer journeys is yet challenging. Most brands run run elaborate campaigns on several channels in parallel— and are happy to see the KPI’s increase steadily. They struggle with understanding which campaign has most impact.
Tracking Brand Lift: towards Brand.Measure.Learn.
Talking to our brand managers, we identified three entwined challenges that companies face when starting to engage in branding activities:
- Explaining the contribution of branding to the company’s bottom line (in the long run)
- Understanding in the short term whether progress is being made
- Driving success efficiently by running only those campaigns that have an impact
The concept of brand lift tackles all of these: do you achieve a positive shift in customer awareness and perception? This can and should be measured short-term.
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