Do you pay for advertising regardless of the action of consumers? It might be time to employ performance marketing strategies.
These are strategies based on a specific discipline in which you only pay when action is taken by a potential customer. This means you’ve somehow already engaged the online user and they are making the choice to look farther into what you have to offer.
Performance Marketing is Extremely Different
Typical advertising is done in a way that creates risk for the company and not for the platform used. For example, when a car company buys a TV slot, the TV company has nothing to do with the number of cars sold based on the ad. Instead, they are simply providing a space for the ad. Using performance advertising is different. The platform takes on more of the risk, and therefore, has an interest in the desired performance.
Several Factors to Consider
You want to create a performance marketing campaign but you need to know what to include in the plan to make sure your campaign will be a success. Here are some factors you should consider when building this type of marketing for your business.
Targets You Want to Reach
The use of performance marketing means you’re using a goal-oriented way of advertising your products or services. This means you need to understand what functions work best for your business and how your ads can bring users to your website. You don’t have to only focus on sales, you can also look at the interest in the items you offer as a performance data point.
Focus on the Position of Your Brand
What type of brand are you offering online users? Is your brand new to the market, is it easy to find, will your customers quickly recognize the quality and usefulness of what you offer? Consider the overall brand positioning and use performance advertising strategies to bring your message to the masses. Your ads need to be easy to see and understand to allow an advertising platform to feel comfortable allowing you to use this form of marketing.
Create a Strong Channel Mix for the Greatest Performance Marketing Results
You don’t want to rely on only one channel for all of your customer leads and acquisitions. Doing this could make it difficult and extremely costly when you don’t see the traffic you’re looking for. Instead, use several different channels for your marketing efforts and allow them to work for you. The price of leads can fluctuate often, be mindful of this in your efforts.
What Strategies Should You Use
When you want to get the most out of your performance marketing efforts, there are a few strategies that have given the greatest results for many other companies. You can try some of them for your business as well.
Remarketing, but a Step Farther
Most remarketing efforts are simply taking a dead lead and sending a new email, sending an ad to their social media page, or a text to the phone number. Using dynamic remarketing takes things a step further. Using the data collected from the first lead an ad can be customized for that customer. This can create a more likely scenario for that customer to take advantage of what you offer.
Be More Visible on Social Media with an Influencer
Adding influencer marketing to your performance marketing efforts can give you the greatest benefits on social media. This type of marketing can be more relatable for your audience, offering them a scene they could easily see themselves in. Using performance data, you’ll be able to understand if an influencer can be the right choice for you.
Visual Search Might be the Best Strategy
Including visual search as part of the marketing efforts you employ will give you a step up on your competition. We’re already in a world where artificial intelligence is used to make searching for information and finding the items you want much easier. Several social networks and companies have added visual search to the mix which makes it easy to see the benefits.
Put Your Ads in the YouTube Shopping Queue
Performance marketing paired with videos on the most popular video platform could make a huge difference for your company. Create a creative strategy that aligns your ads with the shopping habits of potential customers and make sure you update the products, images, and videos of your products and services often. These two tips will help you get the most out of your ads when they are on YouTube.
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