When we start a business, we immediately plan our marketing approach followed by our brand persona. However, we almost always think about an approach for an immediate revenue stream – an income-driven marketing approach. It sounds fine. Most people out there have a similar tendency toward marketing efforts. Probably, you and I are in the same boat. But let us tell you why an impact-driven marketing approach is better than income-driven marketing.

Every entrepreneur spends a lot of time building their brand. Throughout the journey, they even adapt to several marketing approaches. Knowing or unknowingly. But when it comes to income-driven marketing, they often spend a lot of money thinking it will drive cash instantly. And if you are one of those, you are very wrong.

Don’t forget, whatever you do or whichever approach you adopt, it will take some time to pay you off. However, in the long haul, the impact-driven marketing approach is more beneficial. And it is what we will discuss right after we learn a bit about both marketing approaches.

What is Income-driven Marketing 

Simply put, income-driven marketing is the most common marketing approach that most entrepreneurs choose. It is a type of approach that is fully driven by an instant revenue stream.

But what do you think when you hear income-driven marketing? Doesn’t it make you curious?

Well, you might be thinking, hasn’t marketing always been about income or revenue? You are right!

Marketing’s sole purpose is to drive revenue. And every type of marketing approach is targeted to drive income. But it is all about how we approach the market.

In income-driven marketing, campaigns are directly targeted to a specific audience by using specific channels. And it expects direct sales from those channels instantly.

An income driven-marketing approach also involves a major shift in focus for the team and prioritizes targeted and goal-oriented tasks. And it is for a particular period.

What is Impact-driven marketing? 

An impact-driven marketing approach prioritizes the work the business is doing and the difference it is making in society. This approach believes that the impact you create through these marketing efforts, the income will follow sooner.   

Moreover, Impact-driven marketing is an approach where you intend to build brand awareness and engage your audience first. And then you try to create brand loyalty.

Furthermore, impact-driven marketing intends to create a social impact. It also includes a direct sales campaign but in a little different way than the income-driven approach. For example, in income-driven marketing, you offer products without connecting to your customer’s emotions. On the other hand, in an impact-driven approach, we connect to customers’ emotions and provide solutions.

It is a kind of marketing approach adapted more by impact-driven business models. However, nowadays, more and more companies are adopting this marketing model for long-term benefits which we will discuss later.

By all means of marketing channels and stages, the impact-driven approach intends to attract socially aware customers and stay on top of people’s minds.

In this process of marketing or business model, entrepreneurs want to bring social change as well as make revenue. Though revenue is the priority in impact-driven marketing like income-driven marketing, it aligns its marketing effort for long-term vision creating a loyal customer base.

Hope this clears up your confusion about both marketing models. Now it is time to dig deep and learn why impact-driven marketing is better than income-driven marketing.

Why Impact-driven Marketing is Better than Income-driven Marketing? 

There are several benefits of impact-driven marketing for any business making its way into any industry. And as an impact-driven digital marketing agency, we are here to let you know. Trust us, it is worth it!

Talking about why, this marketing method is better than others, literally, there are countless. But we are going to talk about a few of the most important. Hope these points will be convincing enough.

Stay Top-Of-Mind for Socially-Conscious Consumers 

Impact-driven marketing is all about attracting socially-conscious consumers around your brand. With this approach, you drive awareness around your efforts and try to engage your audience with your brand.

In this approach, you design your campaigns promoting your brand as if you are here to solve someone’s problem. Besides, you also put your efforts toward connecting to your consumer’s emotions and pain points rather than presenting your product or service directly.

For example, you may provide your audience with some tips, e-books, newsletters, etc. to inform them and advise them against the odds. Eventually, you tell them that you have a solution that can help them solve their problem.

This way, impact-driven marketing wins the trust of socially-conscious consumers. Though it does not guarantee you sell instantly, it creates an impact for your consumers. And they are informed about your brand and what you can do for them.

The brand recognition that you have created always stays in your target group’s mind. Thus, it positions your brand better in people’s minds which income-driven marketing cannot ensure.

Excelling in Business by Improving the Society 

We have already said that an impact-driven business model intends to drive social changes by solving problems. And impact-driven marketing support that vision. It doesn’t matter whether your business is built to create impact or make money, this marketing method always works.

In an impact-driven marketing process, the impact that you create for your target audience builds loyalty which helps you excel in business. It’s a kind of catch for your business that helps your audience give reason to believe in your solutions. And helps your customers believe that you are improving the world unlike other businesses driven by income-driven marketing.    

With this marketing effort, you can boost your conversion through multiple channels including social media, email journey, customer support, etc. In income-driven marketing efforts, customer satisfaction is not a milestone. And it disappoints people sooner or later.

However, in impact-driven marketing, you always value your customer. And they understand their value, thus making them satisfied and loyal to your brand.

Impact-Driven Marketing has Permanent and Long-term Effects

When it comes to long-term effects, there is no match for impact-driven marketing. It is an approach designed to create a long-term impact on your customers. And it is something that pays off for longer.

When you go for income-driven marketing, you only think about selling your product and services rather than building your brand from the ground up. There is no customer awareness or brand loyalty involved in an income-driven approach. You just do it for a temporary sale. If you stop your paid campaigns, your sale goes off.  In this method, your customers don’t even recognize your brand’s name the second time.

On the other hand, impact-driven marketing provides a wide array of marketing options including purpose-driven marketing, and cause marketing. By creating brand awareness and customer engagement, you connect to your customer’s emotions. Though your primary goal is to sell, you sell your brand in total believing the money or product sales will follow.  

As a result, your effort creates an impact in the customer’s mind. And it has permanent and long-term effects. Moreover, when customer loyalty is established, unlike income-driven marketing, even if you stop paid campaigns, you continue to sell. And this is the beauty and power of impact-driven marketing.

To wrap up, impact-driven marketing creates a long-term and permanent effect whereas income-driven marketing ensures temporary sales. So, for any business that intends to build its brand, impact-driven marketing is the way. And it is the most effective marketing strategy if you want to stay in the market and boost your conversion. 

If you are looking for an impact-driven digital marketing agency, Techtsy is here to help.