Tired of getting let down by the results of very expensive digital advertising campaigns? Do you have very specific objectives you are trying to achieve, yet no matter what you do you just feel like your advertising strategy is weak? Perhaps what you need is a performance marketing strategy that will help you reach the KPIs you are looking for.
First, let’s start by distinguishing the difference between a performance marketing and advertising campaign from your normal, run-of-the-mill advertising campaigns. Performance marketing is special because it lets you set your goals, and you only pay when those KPIs are delivered.
That’s right; you get what you pay for. So if your business needs new leads, to break into a new demographic, get traffic to your website, or even sell products from your eCommerce store, a performance marketing campaign will ensure you meet your goals. Here are the most popular types of performance marketing strategies:
- Cost Per Impression (CPM): This strategy is ideal for informational and exposure campaigns. The advertiser will only pay when the ad is shown to at least a thousand customers. The KPI is measured by impressions. Popular platforms that let you run CPM campaigns include Google AdSense, PropellerAds, and Microsoft Advertising.
- Cost Per Click (CPC or PPC): If your campaign is focusing on web traffic or engagement, cost per click is the way to go. Advertisers pay when users click on links or buttons within an advertisement. Popular CPC platforms include AdRoll, Google Ads, Facebook Ads, and LinkedIn Ads.
- Cost Per Sales (CPS): The ultimate goal of most retail ad campaigns is to get more sales. Advertisements are not always directly responsible for sale, but with a CPS strategy, sales are exactly what you will get. This strategy relies heavily on influencer marketing campaigns like sponsored videos through YouTube creators or industry thought-leader blogs.
Types Of Performance Marketing Platforms
Based on your marketing goals and KPIs, the types of performance marketing platforms you choose to run your campaigns through can optimize your advertising spend. There are many channels available to select while planning your next performance marketing campaign, here are a few of the most popular.
Social Media Advertising
The impact and importance of social media platforms like Facebook, LinkedIn, Instagram, and Twitter cannot be ignored over the past decade. Did you know that according to recent numbers, 3.6 billion people across the world use social media?
Social media platforms like Facebook and LinkedIn collect a wealth of demographic data that allows their advertising platforms to pinpoint your target audiences. Information like location, age, life status, career field, and more are all available to advertisers to serve their ads to highly qualified and engaged audiences.
Publishers, websites, and blogs will sometimes offer native advertising opportunities to marketers based on their performance marketing goals. With native advertising, advertisers can create interactive and engaging content that seems more organic than traditional ads.
This is where content marketing experts can really see results from their content strategies. Like social media platforms, publishers usually have direct access to highly qualified and engaged customers.
Search Engine Marketing (SEM)
Search engines like Google receive the most web traffic of any service on the internet. Google takes the lion’s share of searches with about 70% of all search engine searches in the US, and about 90% of searches globally. That means there are a whole lot of people using Google each hour!
Running a performance advertising campaign through Google Ads or another search engine platform will ensure that your ads get the impressions you’re looking for. Using the search feature, you are able to connect with audiences searching for specific keywords or search queries without having to fight your way to the top of the SERPs through organic SEO practices.
Internet personalities and industry thought-leaders are quickly becoming the next stars of our generation. Successful YouTubers or Instagram users sometimes have millions of followers fully engaged with their content. In order to make a living from the content they share on social media or YouTube, creators are often open to sponsorship opportunities from brands.
Influencers will create an ad for you on their channel and promote a tracked link back to your website or landing page so you will know if any of their audience has converted. Advertisers can write up contracts or secure an advertising package with their influencers and determine which KPIs need to be reached for payment.
When You Want Your Ads To Perform, Go With A Performance Marketing Agency
Running a successful performance marketing campaign takes a lot of planning, forecasting, research, and work to be executed. Hiring an experienced performance marketing agency can help you get where you want to go with your business. Having a team of strategists, advertisers, content creators, and graphic designers at your disposal can help you scale your campaigns so you are making the most of your marketing budget. If you are truly seeking advertising success, getting experts on your team is the way to go.