Mike, thanks to research, we know companies with strong brands outperform the market (in fact, they're more than twice as successful as the S&P500!)
So, why don't businesses invest more in brand?
Because, traditionally, it's been hard to measure the true impact of brand building (not to mention expensive).
Several years ago, Airbnb shifted from a performance-centric marketing strategy to a brand-centric one. It was a bold move, but they've reaped the rewards! 💸
Airbnb achieved financial profitability for the first time in FY23 (data below). What's especially extraordinary about this is that they're the one of the only publicly VC-backed companies founded in the US in the last 15 years to achieve this 🤯
Airbnb's CFO backs the decision: “We made that shift and it has proven to have been the right shift, not only in 2019 but in 2020 and 2021.”
James Hurman, Global Marketing Effectiveness Expert (and Tracksuit's Co-Founder) agrees: "The financial case for brand is indisputable".
The data is clear: while performance marketing drives short-term sales activation, it's brand marketing that drives long-term, sustainable growth and profitability.
Here's a handy visual that explains the cumulative power of both 🔥
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