Performance marketing has completely changed the way companies advertise and sell products. It has also impacted the way we measure the success of marketing campaigns. In the past, attribution was nearly impossible.
Today, performance marketing campaigns give you the ability to measure everything from brand reach to conversion rate down to a single ad.
This new age of data-driven marketing has given advertisers valuable insight into their performance, which has helped them optimize their campaigns according to the best cost per acquisition.
As advertising becomes more transparent, advertisers are looking beyond branding to build marketing strategies with proven ROI. Performance marketing was born from a need to decrease cost per acquisition and increase ROI
With performance marketing campaigns, advertisers pay when a specific action is completed, rather than for impressions or clicks.
What Makes It Unique?
In most traditional forms of advertising, the advertiser pays a fee up front for ad space independent of performance. That could mean hundreds to thousands of dollars spent without ever seeing a conversion. With performance marketing, advertisers only pay for successful transactions.
Measurable ROI is the key to successful digital marketing. There are several ways to track performance, including the use of marketing tools.It’s important to track ROI regularly, but give your campaigns time to gather data. It’s impossible to optimize any campaign without adequate data.
What are the Benefits of Performance Marketing?
There are many benefits to running performance marketing campaigns, including:
• Easy-to-track performance
• Low risk
The main benefit to performance marketing is that it’s 100% measurable. Thanks to new technology and advanced ad platforms, all your campaign metrics are tracked and reported for your convenience. In addition to better tracking, performance marketing is ROI-focused, which means less risk for the advertiser. With less risk, quicker launch times are possible. No more pushing for approvals.