The Secret to Low CPM: Brand alliances
- 20 September 2022
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When building your marketing strategy, reaching customers isn’t the only metric to consider. To achieve true success, it’s important to consider the expense and subsequent ROI too. As such, a low CPM should be a priority for all marketers and business owners. Band brand power is the perfect solution.
Brand alliances can take many forms. Here’s why they, and brand alliances in general, can deliver cost-effective campaigns with low CPMs and high conversions or returns.
Brand alliances – unlocking the power of recommendation
Product recommendations account for over 30% of all eCommerce sales while virtually all modern consumers are influenced by others. In fact, the vast majority actively won’t complete a purchase until they’ve had the company’s reputation verified by an outside source. That could be a friend, an online reviewer, or an influencer who they respect – like a musician.
All of those sources can be considered forms of endorsement marketing. Studies show that consumers are 4.5x more likely to make a purchase following a recommendation, which is why many brands will implement ideas like affiliate schemes. However, when the affiliate is simply a customer, their potential reach is quite small. If you want to achieve a large reach while maintaining a low CPM, brand alliances with celebrities and influencers will be vital.
Musicians may be able to reach thousands of people with a single post or piece of content. Better still, when you connect to the right artist, a large percentage of their fanbase will fall into your category. So, not only will you see a low CPM where you get a lot of impressions for your money – you’ll also find that very few of the impressions are wasted.
The result is a powerful message that resonates with audiences to boost your hopes of conversions.
Promoting Australian Brands By Combining Content
Marketing and Australian Favourite Musicians
Brand alliances – the perfect approach to indirect marketing
Brand awareness is deemed the number one objective by more marketers than any other target. As such, the benefits of indirect marketing, which is when you focus on making people aware of the company without promoting a specific product, should not be ignored. Brand alliances, particularly with musicians is a great way to facilitate this with a low CPM.
Musicians are the great influencers of modern society, especially for younger generations. A mere mention of the brand will lead consumers to begin associating your brand with their favourite musician, which will also keep your business fresh in their minds.
Brand alliances also open the door to hijack marketing where a brand grabs the spotlight from an existing event. Experiences are a key feature of building stronger customer bonds. Whether it’s a shoutout from an artist, a social media takeover, or leveraging success from a band’s other activities doesn’t matter. The alliance will allow you to penetrate a target audience and benefit from the strong connections and cultural impacts that musicians can deliver.
The final word
For the sake of cost as well as the effect, brand alliances are truly the best solution. Musicians will send you to the top of the charts.