How can I invest in marketing, when I can't guarantee the returns?
As a startup marketing agency in the UK tech industry, often our clients are doing things for the very first time.
That's the nature of early-stage business.
Re-investing in marketing can, understandably, make founders nervous - particularly when it's money being spent on branding, strategy, creative, or organic work.
(Basically anything that isn't performance marketing or paid digital media, which is ALL numbers!)
𝘚𝘰, 𝘩𝘦𝘳𝘦 𝘢𝘳𝘦 𝘢 5 𝘵𝘩𝘪𝘯𝘨𝘴 𝘵𝘰 𝘤𝘰𝘯𝘴𝘪𝘥𝘦𝘳 𝘸𝘩𝘦𝘯 𝘧𝘢𝘤𝘦𝘥 𝘸𝘪𝘵𝘩 𝘥𝘪𝘧𝘧𝘪𝘤𝘶𝘭𝘵 𝘣𝘶𝘺𝘪𝘯𝘨 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯𝘴:
1️. All marketing has an ROI when looking at the bigger picture
Sure, certain chunks may be a cost before they turn into an investment, but over a period of time everything pays off in its own way. Prospects image-matching with the visual identity. Internal team aligned with the core strategy. Key messaging hitting the nail on the head for subscribers. Positioning that made customers choose you over your competitors. A brand voice that keeps people coming back for more. A personality that drives customer loyalty. A brand promise that boosts advocacy.
2. The immediate return may not be in focus, but the knock-on impact is huge
Customer acquisition requires people to recognise you, understand what you do, and remember who you are. A strong brand strategy provides the bedrock for this. Not to mention the value of the brand in and of itself.
3️. Implement clearly-defined experiments
Unless your product or service is so incredibly amazingly fantastic that no-one can stop talking about it without even being prompted or reminded, you simply need marketing to make the business work.
Implement clearly-defined experiments for different marketing activities as a way to test & learn before committing huge budgets.
4️. Consider your own purchasing behaviours in the market
For example, "I need baked beans for breakfast" = Beanz Meanz Heinz, or even things you aspire to own, like a Rolex or Lambo. You may have varying levels of consciousness here, but everything you buy has been marketed to you, in some way or another.
5️. If you can't beat 'em, then join' em
If your competition is doing it, you too need to give them a run for their money to succeed.
At Bloom, we clearly break down our pricing and offer flexible models for high-growth tech scale-ups. Find out more about our brand marketing services here.