Studies show brands help maintain their success when they continually advertise and promote the right message to the right people at the right time.Following are findings from a recent study: |
 “Brands that play the long game through all cycles have the best odds for success.” |
LONG-TERM MARKETING IS KEY:
Maintain ad spending, ad quality and brand building over the long-term:
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Businesses that cut ad spending when competitors maintain, or increase it, historically lose market share: on average, a brand loses nearly 15% of its market if a competitor doubles its marketing investments.
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Long-term awareness and branding is typically most effective in generating loyal customers.
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Focusing on the quality of the creative messaging plays an important role, contributing an estimated two-thirds of the impact of ad campaigns.
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Targeted media is on the rise: 75% of all media options, up from 55%.
UNDERSTAND YOUR CUSTOMER:
Understand who your customer is and stay in tune with their behavior:
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Focus on value and innovation to appeal to various consumer segments.
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Targeting and audience segmenting is important: different customer segments often require different messaging that best resonates with them.
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Loyalty programs can help businesses remain the customer’s brand of choice; the key is to make it simple to collect the rewards.
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Defend your market share by focusing on customer wants and needs and reminding them why they love your brand.
The report’s bottom line is clear: brands that play the long game through all cycles have the best odds for success. Long-term marketing helps build up your company’s strength, reliability, and market share.
Source: Media Daily News, MediaPost, reported by Joe Mandese and Maria Topken; Report by Analytic Partners; Forbes; mediatraining.com