Molly Baker, CEO & Founder of Indie Consulting.

Three Approaches To Digital Marketing—And How To Choose What's Best For Your Brand In 2023

As we begin 2023, I can confidently say that digital marketing is now just “marketing.” This blurs the lines between funnel objectives and channel selection, increases the ever-growing need for a variety of digital content and demands an always-on approach to measuring the art and science that is marketing today.

Three Approaches To Digital Marketing—And How To Choose What's Best For Your Brand In 2023

In the aftermath of the big boom of direct-to-consumer brands and marketplaces, along with their accompanying marketing tactics (think Facebook advertising), I am seeing a refocus on the importance of brand awareness and upper-funnel tactics. While it plays an important role in any brand’s marketing mix, performance lower-funnel marketing is not the single key to growth. As the founder of a marketing consulting company, and in studying how brands are approaching this matrixed ecosystem, I have identified three widely used approaches.

Three Approaches To Digital Marketing—And How To Choose What's Best For Your Brand In 2023

Approach No. 1: The Performance Model’

I’ve observed that many digitally native brands are applying a performance-first approach to their full-funnel marketing efforts in an attempt to maintain a growth mindset and apply lower-funnel optimization tactics to upper-funnel activations.

Three Approaches To Digital Marketing—And How To Choose What's Best For Your Brand In 2023

Three Approaches To Digital Marketing—And How To Choose What's Best For Your Brand In 2023

How do they activate?

Brands following this model seemingly accomplish the following.

• Create a marketing ecosystem across the funnel with platforms identified to accomplish specific objectives within each part of the marketing funnel.

• Directional return on ad spend is attributed to each platform for each objective. These ROAS benchmarks are created through historical data and directional attribution models.

• Establish an ongoing measurement model and testing framework that allows every dollar spent to be measured and attributed to sales.

• Shift budget across the funnel on a monthly and quarterly basis, based on performance.

How do they resource?

Brands following the performance model tend to insource subject matter experts to create the strategy and tightly manage agency partner execution. This model requires heavy internal resourcing, given the detailed hands-on optimization approach.

Approach No. 2: The Awareness Model

I’m finding that many traditional, long-standing brands have kept their sights on brand awareness as their No. 1 goal. This objective dictates how they leverage their digital touchpoints and investments. All decisions tie back to the single goal of making more households aware of their brand and product.

How do they activate?

Brands following this model seemingly accomplish the following.

• Create a marketing ecosystem that prioritizes where they can reach the largest percentage of their target audience at the cheapest cost.

• Leverage digital platforms as a way to reinforce messages that are being primarily distributed by TV and/or other traditional media tactics.

• Focus on a single message creative and innovate through “new” over-the-top and connected TV advertising offerings.

How do they resource?

In my experience, brands following the awareness model tend to keep in-house marketing teams small and focused on agency partners and project management. The biggest lift is associated with the single message creative and annual media buy. Without an optimization model or budget fluidity, many variables are fixed at the set of each year, which demands much less from an in-house marketing team.

Approach 3: The Content- And Retention-Led Model

As content marketing has matured past its initial days of blogging and custom content via big-name publishers, many brands have seen sustained growth by implementing a content- and customer retention-led model. Brands that adopt this model put serious effort into keeping their existing customers and forming deep relationships with new and old alike by being more than a product.

How do they activate?

Brands following this model seemingly accomplish the following.

• Prioritize owned and earned marketing channels/platforms over paid platforms.

• Create numerous content streams and storylines to connect with consumers in different ways.

• Let consumer feedback and cultural trends dictate annual, if not bi-annual, communication planning and product innovation.

• Accept that they will not always see an immediate return on their marketing efforts in ways that you would see with a paid media-first approach.

How do they resource?

Brands following the content- and retention-led approach typically have a mixed resourcing strategy. Certain aspects of brand content, and usually retention specialists, sit in-house. However, in order to supply the demand for content needed for this approach, I’ve observed that brands working within this model often work with content agency partners and freelancers to create and optimize quickly.

Deciding What’s Best For Your Brand

There is no one-size-fits-all approach, and it’s also impossible to do it all. I recommend evaluating the goals and digital maturity of your brand to determine which marketing model is the best fit for your brand in 2023. Your marketing model should ideally be re-evaluated on an annual basis, as consumer-facing tactics and internal enablers are constantly shifting.

In order to decide what approach is best for your brand, ask yourself: What is your brand’s digital maturity, and what is your key marketing objective? For example, if your brand is still working on building its digital foundation and your primary marketing objective is to connect with a passionate customer base, the content- and retention-led model is likely best. But if your brand has built its digital foundation and your primary marketing objective is to increase purchase occasions and/or reach a new customer segment, the awareness-led model might be a better fit. If your brand is digitally sophisticated and your primary marketing objective is to drive sales growth through your base products and new product launches, the performance model could be a good option.

Modern marketing is not constricted to a single set of fixed tools, with the variables being creative messages. Rather, marketing today is the opposite; it’s comprised of many tools and many messages. The options are limitless, making the art and science of marketing even that much more interesting.

---

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

---

google.com, pub-7087036224883813, DIRECT, f08c47fec0942fa0