Performance-marketing is a type of marketing that is aimed at achieving clear results.
When comparing this type of marketing with classic, the difference is quite noticeable.
What is it and how does it work? Now let’s analyze this concept and how to correctly form a strategy for it.
Performance-marketing includes actions, the result of which can be clearly recorded and compared with previous ones. After analyzing them, you can adjust your strategy and effectively promote your product.
For performance marketing, there are specific metrics that make it easy to track performance: ROMI, LTV, CPA, and others.
The main task of such marketing is to work with sales without spending too much on metrics that are difficult to measure.
For example, let’s take work on the image of a company or brand – business profitability and the number of customers increase, but when to expect it is difficult to say. For performance, the main goal is revenue growth.
Features that distinguish performance-marketing from ordinary image marketing:
Topicality. Any investment in advertising or promotion will be visible immediately. This makes it easier and simpler to adjust and optimize the marketing strategy.
Measurability. Tracking key KPIs that provide insight into whether a particular tool is working effectively. This makes managing the marketing budget easier and more efficient.
Orientation to the result. Everything still used in performance marketing is aimed at finding, attracting and stimulating customers to make a purchase.
How to create a performance marketing strategy?
Performance marketing, like all other types of marketing tools, requires the ability to create and implement a working strategy.
We give you a small outline of how a performance marketing strategy should work.
Create a need – offer a solution – retain an audience – convert leads into sales – increase loyalty
Thanks to this scheme, your strategy will work as correctly and successfully as possible.
And now let’s move on to more specific points of creating a performance strategy:
Setting goals. Any strategy starts with setting goals for your brand or company. This is necessary to determine the indicators that are most important for a particular business.
Analytics. It is necessary to conduct a thorough analysis of the business, the client’s Internet resource and the target audience. For this, the client must provide full access to the site’s analytics system, current KRI-business, so that the specialist correctly formulates the goals and strategy as a whole.
Strategy development. A performance marketing specialist determines the main promotion tools, traffic channels, and types of advertising campaigns. The strategy itself is formed on the basis of data obtained during analytics.
Development of a promotion plan. A clear plan for the use of marketing tools is necessary, taking into account the developed strategy.
And finally, performance evaluation and possible optimization of this strategy. Every month, experts compare all metrics for the previous period, as well as for previous years to take into account seasonality.
Performance-marketing is a rather complex work system for the promotion of various brands and businesses. It includes all methods aimed at working with clients and focused on measurable performance results.
