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What Is Performance Marketing?
The pandemic showed the world what digital is and how it impacts business. It is the future of marketing. That remotely reaches a specific audience at their chosen place, at chosen time. The tomorrow that is continuously denied by you and me.
It is with performance marketing that one can measure every coin spent on marketing, cost of every viewer acquired, legitimacy of every charge.
You reach and international audience with small money, influence them and gain, at comparatively the least cost. That is the magic of performance marketing. Hug it, you may hug the world.
How Performance Marketing Works?
With the click a viewer responds to a performance ad and makes it roll. And as viewers click on the ad to know further, buy, get knowledge, with rise in their number the ad is considered successful.
The different variations of performance ads are
1
Cost Per Click (CPC)
The ads use clicks of viewers. Only when a viewer clicks, the ad revenue is used, the campaigner is charged. Clicks are a good way to drive the traffic to a business sites. As they use clicks, not impressions.
2
Cost Per Impression (CPM)
Views matter in impression. Of your ad. Here, the payment is counted for every thousand views (when 10,000 people see the ad, you’d pay 10 times your base rate).
3
Cost Per Sales (CPS)
Darling of the affiliate marketers, the cost for this campaign is counted with every sale made through the ad. No sale, no charges.
4
Cost Per Leads (CPL)
Know those email subscriptions or newsletter? There the leads count is used. Where with every new lead through the campaign is charged.
5
Cost Per Acquisition (CPA)
With cost per acquisition advertisers pay when consumers complete a specific action (which could include making a sale, sharing their contact information, visiting your blog, etc.).
Top Performance Marketing Channels
Banner (Display) Ads
Those image linked ads you see on the sides or top of selected webpages? They are banner ads. Ad blockers on devices and ad blindness of viewers slowly pushing this segment of ads out but when done correctly finding success with interactive content, videos, and graphic design is not hard in display ads.
Native Advertising
Natural digital processes are used in Native ads. “Watch Next” sponsored video is one such example in YouTube. By creating a seamless mixture of organic and paid content native ads naturally reaches the audience. With growing ad awareness of viewers the ad segment is slowly losing some shine.
Search Engine Marketing (SEM)
Search is the holy grail of digital. Paid or Organic they have their regal positions of honour. A paid search is still one of the most effective way to reach a large, targeted audience. Organic search on the other hand builds the overall respect and trust of the brand in digital sphere. Neither can be neglected.
Social Media
Remember Harry Potter? Social media is your magic wand. You target specific audiences with tailored content, message and when they appeal it runs like a wild fire through the platform. Often the same run happens with negatives to destroy a brand. One really needs to know to tackle those demons. Whether Facebook, Twitter or LinkedIn, inspite of their natural differences, communication is vital, caution is important.
Benefits of Performance Marketing
The pandemic showed the world what digital is and how it impacts business. It is the future of marketing. That remotely reaches a specific audience at their chosen place, at chosen time. The tomorrow that is continuously denied by you and me.
It is with performance marketing that one can measure every coin spent on marketing, cost of every viewer acquired, legitimacy of every charge.
You reach and international audience with small money, influence them and gain, at comparatively the least cost. That is the magic of performance marketing. Hug it, you may hug the world.
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