Performance Marketing: How to Do It Right
Odds are you have used performance marketing at some point in the development of your brand. Essentially, performance marketing is a type of campaign in which advertisers pay for the results that are achieved. This is usually measured through clicks or conversions.
This style of marketing is integral to today’s marketing landscape, but it can also get expensive if it’s not executed properly.
Understandably, some people find performance marketing to be confusing. That’s because there’s an influx of information out there that could lead you in the wrong direction.
Fortunately, as a Plano performance marketing firm, Insights ABM can save you a lot of time and headaches while helping you to maximize your returns along the way.
Here are some tips to help maximize the efficiency of your performance marketing strategy.
Analytics Are Essential
Analytics help to optimize spending and visibility. Consequently, they are the most important area of marketing. But how do you gather and consolidate such a large amount of information? The answer is more obvious than it might seem: Test and evaluate.
After you execute a campaign, check the impressions, clicks, and audience engagement metrics so that you can calculate the approaches that work best for your specific audience.
It is a good idea to test your campaigns as they run at various times throughout the day or the week. When you’re first getting started, exercise restraint in the frequency of your campaigns. People need time to make decisions, so bombarding them with content may not be the best strategy if you want to win their business long-term.
Short-Term Failure Can Provide Insight into Future Success
When you’re testing out your content, remember that every result contains some insight. If a test run does not yield optimal results, evaluate what may have contributed to the results you achieved. Was it the wrong time of day or the wrong target audience?
These metrics will help you to fine-tune your approach and conduct more efficient campaigns in the future.
How to Analyze Effectively
As you’re analyzing your campaigns, there are a few key areas you should look at. First, evaluate each traffic source and determine the overall acquisition cost for every lead generated.
Next, determine who is purchasing your products. Are they concentrated in any particular location? Are there things that you can do to drive further traffic, if so what?
Finally, determine the click-through rate (CTR), conversion rate, and business impact of each promotion.
Identify Your Target Audience
Identifying the proper target audience is essential for any successful performance-based marketing campaign. This means that you will need to put some time in to identify your ideal user.
Working with Clients
One of the greatest strengths of performance marketing is dynamism. This comes in handy when you’re working with clients because it will allow you to maintain a balance between their needs and those of your team.
Regular brainstorming sessions can be helpful to this process. As you measure each campaign, talk through the results with your team. Look beyond “what” happened and dive deeply into the “why.” This can help you to adjust your material as needed and improve your return on investment.
Seeking Clients Through Performance Marketing
Successful performance marketing can be condensed into three main areas: Predictability, attentiveness, and effectiveness. Make sure you are analyzing data so that you can make data-driven decisions. Then, use these decisions to maintain an attentive relationship with your clients and to plan future campaigns accordingly.
Want a little help? The right partner can help you to identify efficient strategies that will engage your target audience, help you build trust, and assist you in navigating what would otherwise be a confusing landscape.
Are you ready to make your brand stand out? Contact Insights ABM today. We provide expert Plano performance marketing services designed to help you scale your business.