| 2 min
March 15th, 2021
Performance Marketing is a particular strategy of digital marketing that can make all the difference for businesses. The simple answer to what performance marketing is is actually fairly obvious, it’s marketing based on performance!
What that performance is can vary slightly depending on the business, but include any desirable action such as a lead, sale, booking or download. The approach to achieving these goals will then vary based on what will bring the best performance, where a digital marketing agency might offer a standardised approach, performance based marketing will focus on what gives you the best return.
How To Achieve Success With Performance Based Marketing?
There is a lot that goes into a performance marketing strategy, but one of the key aspects is a multi-channel approach. By utilising their expertise across different channels a performance marketing agency is then able to create a strategy that spans all of these channels, utilising each to leverage the best performance for your site. This then helps you to be in the right place at the right time, as well as in front of the right people.
This is then backed up by a holistic overview of these channels, which allows for an in-depth understanding of how each marketing channel is performing. Doing this also enables proactive changes to ensure that everything is working towards the end goal for your business, which in turn will maximise your ROI.
The proactive changes that may be required for any strategy will come from monitoring the data of each channel, as well as reviewing the overall customer journey and other key performance indicators. By doing this your marketing strategy can be kept on track by adapting activity on a particular channel or through the addition of new channels or tactics.
Is Performance Based Marketing Right For You?
The simple answer to this question is yes! By its nature, performance marketing is right for any business as it offers the same benefits of digital marketing, but is just slightly different in its approach.
As mentioned above it is all based on leveraging available data to implement a highly targeted multi-channel strategy, so it can work for any business. The only thing that may delay the implementation of a strategy such as this is how much data is available to you.
How To Get The Most Out Of Performance Based Marketing?
At the risk of repeating ourselves, it all starts with data! But the key is how you use the available data. The best approach is to create different segments for your audience, the more detailed the better. This then allows you to target specific marketing channels and messaging to these audiences. What this allows you to do is to tailor the message to talk directly to the potential customers within the targeted segment, which will then help to improve the conversion rate of your marketing activities.
So if you’re interested in performance based marketing and want to discuss how it could work for you and to understand the benefits more, then why not get in touch with us today and we can look at how best to approach it for you.