In a world of uncertainty, brands usually struggle to find where their campaigns are going and find it hard to extract tangible outcomes from their efforts. In digital marketing, brands practice branding strategies such as SEO, content marketing, and PPC. While these strategies are crucial for businesses to sustain in the marketplace, their impact sometimes becomes harder to measure and get definitive markers from.
Where digital marketing makes it difficult for businesses to measure their metrics, performance marketing, on the other hand, is a strategy in which businesses only have to pay for the results they see. This means when a brand receives clicks on their ads, notices visits on their landing pages or gets a boost in their sales growth.
What is Performance Marketing?
Performance marketing is a strategy in which business owners only have to pay for the results discussed at the start. These requirements can be clicks, leads, sales, or conversions that are discussed in the contract, and brands are only obligated to pay for those metrics when service providers achieve them.
Top Performance Marketing Channels
What channels work best when it comes to performance marketing? Well, here are some of the essential channels used for performance marketing:
Display Ads
Display ads are still one of the productive channels for performance marketing strategies. These ads generally appear on Google display networks. These ads appear on Google partnered websites where users usually visit and brands showcase their ads at the bottom or top of the site pages. These ads utilize interactive content creatives like visuals, animations, and catchy content.
Native Advertising
Native advertising feels like organic ads that mix their presence with organic content and come naturally to users. In search engines, these ads rank as sponsored ads, known as paid search ads or sponsored videos that appear on YouTube watch next section. Native ads are also widely used on e-commerce platforms like Amazon.
Content Marketing
Content marketing works on educating prospects and convincing customers to take a specific action. It is better than inbound marketing and plays a significant role in nurturing and converting leads. For example, a well-written landing page copy is essential in convincing customers to take a specific action. It can be persuasive content written in emails, ad copy and web pages to create engaging customer connections.
Social Media
Social media is another crucial channel for performance marketing that helps businesses get tangible results. Social ads and sponsored content on social media platforms give businesses measurable results such as ad impressions, landing page visits, and conversions. Facebook is a goldmine for performance marketers, providing multiple opportunities for businesses to reach new customers and get measurable results.
Tips and Tricks For Better Performance Marketing
Here are some of the tricks to create better performance marketing results for businesses:
Craft A Valuable Landing Page
Landing pages play a crucial role in lead generation. A good landing page tends to convince customers to take tangible action. Without a stellar and appealing copy, users will easily be swayed by poor copy and avoid taking considerable action.
A persuasive landing page is the backbone of any email, ad campaign, or ROI-driven marketing. Without an engaging, clear and persuasive copy, brands can lose highly qualified leads at the very end and lose the opportunity to turn leads into customers.
A/B Test To Earn Better Metrics
A/B testing is an essential aspect of performance marketing. Brands aim to generate tangible results from their campaigns, which is why testing ad creatives, email copy, and landing pages are helpful for marketers. To generate better performance marketing results, brands must try different techniques to optimize click-through rates, conversions, and sales.
Drawbacks of Performance Marketing
Performance marketing shares its equal set of challenges, too for starters:
- Brands struggle to build their brand as this strategy mainly focuses on advertising and advertising the brand offerings instead of promoting the brand as a whole.
- Performance marketing also risks diluting brand identity as brands focus more on conversions, convincing users to take action. Usually, most ads have CTA’s like Get Started, Pay Now, or Get a Free Trial.
Wrapping Up
Performance marketing will be a disruptive marketing approach for businesses in the coming marketing space. As marketing trends continue to shape, marketing that brings measurable results will be appreciated in every industry. This way, brand owners have a clear view of where their marketing and advertising strategies are heading.
