I have completely switched my stance on brand building.
I used to think that growth was all about demand generation, and outbound sales/marketing were the only channels to focus on.
Now, I see it as a death sentence and a path to lumpy growth, increased spending and all-risk, especially if down-turns in spending happen (as soon as you lower your budgets, you turn off your lead flow, and without a brand, you'll be screwed).
Brand and audience building is your number one goal.
Having an audience is king.
Here are other reasons to support this view:
- SaaS selling is becoming consumerised
- Digital Marketing channels are becoming ineffective
- Constrained attention from users/ buyers and limited marketing channels to access new users create intense pressure. There is a lot on the line
- Digital Marketing channels are expensive
- Digital Marketing with a poor lead conversion process, customer journey and nurture programme will mean you'll waste all that spend
But how do you scrutinise ROI? Think of it in the anti-sense. What happens if you don't invest? And two things happen.
- Digital marketing costs increase, and you can't afford to compete
- You need to cut budgets and can't spend on digital marketing
See how your demand engine crashes to a halt.
I would place a bet you wish 12 months prior, that you would have invested in building your brand and audience. It's not too late to start.
Start now.