Digital Brand Building in 2014 - A Practical Guide
There’s many reasons we need to pay close attention to our brands in an online environment – but here’s three.
1) 92% of all retail transactions happen offline: So online advertising efforts tied to direct conversion and online purchase are useful, but focus on a small % of consumer spend. Enhancing your brand online leads to sales both online and off.
2) We know from AOL’s Buying at Speed research that technology has fueled always-on shopping which creates brand preferences that carry over to the shorter, active shopping period. A strong brand is more important now than ever.
3) You can damage your brand: Research from Millward Brown Digital shows that the worst performing online video campaigns actually caused decreases in all five major brand building metrics.
Online brand building is a critical piece of your overall marketing strategy. What next? Here’s four tips for enhancing your brand online:
1) Online advertising in a contextual environment work better than those which are not contextually relevant - and contextual WITH video works better than both. This is true for Awareness, Favorability and Purchase Intent – below we illustrate Purchase Intent . . . .
2) Video works great for brand building online. However, combining Video and Display companion ads achieves even greater lifts in brand building metrics1.
3) In general, non network inventory enhances brands far better than network inventory. Call-to-action creative perform better on networks1.
4) Avoid optimizing to Direct Response metrics – research continues to show there’s no correlation between clicks and offline sales lift. Both Millward Brown Digital1 and Comscore2 agree on this point. Instead, focus on early read brand building measurement provided by brand research groups and avoid optimizing before you’ve achieved your frequency goals.
1 – Millward Brown Digital MarketNorms, 2010-2013
2 – Comscore Regression Analysis