Companies wanting to keep a close eye on how their products or services respond in a digital marketplace are finding that performance marketing best suits their needs. Performance marketing is any type of marketing campaign that is only paid for when the goal specified by the business is achieved. That goal can be leads, conversions, sales, or whatever criteria the business specifies. But payment for the performance marketing service is only made when that action occurs. This is a win-win situation for the advertiser as they get to promote their products and only pay when they get the outcome they want, and that alone makes performance marketing unique.
Performance marketing is the most logical choice for a company that has products with thin margins, or a brand that lacks a large marketing budget and wants to use what they have wisely. The marketer has to be extra careful and use their experience and skill to squeeze every drop of value from the campaigns they spend their precious marketing budget on. But there are other benefits to this type of marketing. The emphasis on measurability means you’re running ad campaigns that are as lean as possible and you can get a more accurate picture of your acquisition costs per product.
When undertaking performance marketing, every little detail matters. The size of the font or the colours used in the background can be the difference between the ad campaign’s success and failure. The audience the ad targets and even the time of day the ad appears are vital to the success of your campaign. As you can see, the importance of the ad’s individual elements are magnified with this type of marketing and you need to make sure that your ad stands out from the competition. That’s why it’s wise to partner with a performance marketing agency that carries out the research necessary to guarantee a successful campaign every time, plus the creativity and experience to make use of that research.
Choose an experienced performance marketing agency that has all the tools necessary to create a holistic ad campaign for you. An agency that not only has talented graphic designers and expert writers that can create compelling, eye-catching, informative and relevant ads, but also a team that has the expertise and knowledge to bid intelligently for the ad’s placement and account managers that can keep track of every campaign and report back to the client on their progress towards meeting the individual goals.
For brands that have recently launched, or established brands that have launched new products and services, performance marketing can be a valuable learning experience. As well as being an efficient way to educate an audience about your brand and your new product or service, the ad campaigns you run using the performance model provide immediate and graphic feedback about your new products. You’re able to pivot more effectively when you can see the need to from a long way off. This type of marketing is incredibly effective at pinpointing those areas and audiences where a campaign is succeeding and the one where it’s failing.
Primal is an award-winning performance marketing agency in Bangkok, Thailand that understands all the benefits that performance marketing can provide for a brand and how best to harness them to the brand’s advantage. Utilising the measurability effectively is the key to getting the most out of this type of marketing. Primal can create a custom ad strategy using performance marketing that provides the brand with useful data they can use to refine and improve the marketing targets, and the products and services themselves. Get in touch with Primal to find out more about how to make the most of this valuable type of marketing.
Any type of digital marketing where the advertisers pay to achieve a very specific goal usually related to an increase in conversions, leads and sales.
A performance marketing strategy is a plan you follow to achieve your online marketing goals through biddable media.
Pay Per Click (PPC) advertising is a perfect example of performance marketing. The advertiser isn’t charged for the ad unless a user clicks on it.
It’s an excellent way to grow your business as you can make the most of a small or large marketing budget. Smart brands use performance marketing to generate fast results that are measurable.
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