In general, performance marketing is, in simple terms, a measurable result in a given amount of time.
That is, when using which advertisers pay for specific actions, achieved goals or results. For example, clicks, leads, conversions. In general, this is marketing focused on specific results.
The second important characteristic of performance marketing is the achievement of these measurable results not someday, but in a certain period of time: a month, a quarter, etc.
Features of performance marketing:
performance marketing application
Performance marketing does not focus on brand promotion, does not generate demand and does not create an audience. This is all done in advance by means of a broader Internet marketing system in general. Performance marketing works on already generated consumer demand and stimulates the actions of our audience, which gives 100500 part time data sales per month, quarter, etc.
Each channel should have measurable indicators, metrics. Where clicks, where calls, where an e-mail request, somewhere filling out a form, conversions, etc. And each such action should be recorded and measured.
First, quantitative measurements are taken, then quality assessment is added to them.
All channels used should be combined into a performance marketing subsystem. Everything should be aimed only at achieving the set goals. Any other marketing activities are excluded from this subsystem so as not to blur the results.
Performance marketing management should allow not only to measure, but also to change its components in real time. For example, we see that in a week or two one of the channels has "popped", and the other two have not "started". Accordingly, the first one is a priority, the two "brakes" are not yet turned off. We collect more and more statistics, based on the results and time in a week, month, quarter we clearly see the qualitative and quantitative indicators and make adjustments.
Performance Marketing - Application for My Business?
Performance marketing itself, being an element of the complex Internet marketing system, can be applied to any business. But it is necessary to understand that in this case, investments in the necessary tools and specialists will be required immediately.
Therefore, in order to move on to performance marketing, we must already have: a product/goods that satisfies certain needs, a potential audience that needs a similar product, and formed demand (buyers who purchase our product).
If you are just starting to promote your business online, it is better to start with building a classic system of complex Internet marketing. And connect and use performance marketing tools gradually.
When you see a need for your product, understand the target audience and you already have sales. You want to activate sales growth, then yes – performance marketing is for you.