To drive long-term growth and success, marketers should invest in brand equity to claim a prominent presence in customers’ minds. Utilizing a full-funnel strategy can help extend market share versus focusing too intensely on the low-funnel return on advertising spend (ROAS) model, because marketing goes beyond attributing every incoming dollar.
Enlarging the marketing funnel and the volume of new prospects will prove a more viable strategy for long-term growth.
Digital and video marketing can help build brand and consumer mindshare through a full-funnel approach:
Boosts awareness and sales:
- Video increases brand recognition (upper funnel) and produces qualified leads and generates sales (lower funnel): 81% of marketers indicate video has had a direct impact on their brand’s bottom line*.
- By focusing less on strictly ROAS, marketers will turn heads, and consumers will start searching for their brand.
Builds customer lifetime value:
- Video facilitates the continued conversation, builds affinity, showcases what makes your brand memorable and promotes an ongoing relationship with customers post-purchase to create brand loyalists and advocates.
- Investing in your business’ brand will prove to be a smarter financial choice in the long term, as customers will begin to seek it out.
Generates “buzz” about your brand:
- A video strategy allows your brand to start a conversation with consumers no matter where they are spending time throughout the day.
- Effective video creative brings compelling messages to the consumer.
Enlarging the marketing funnel and the volume of new prospects will prove a more viable strategy for long-term growth. Video is a must-have for today’s brands: by diversifying a budget across all forms of digital channels, a marketer can effectively build brand and market share.
Source: Media Post-The Marketing Insider reported by Elise Stieferman and Phil Case; *Hubspot research study