An Intro To Performance Marketing-Part 2
When first considering Performance Marketing (online advertising strategy) for your brand or business, the different approaches and jargon can sometimes be intimidating. However, with eCommerce becoming a near-unavoidable entity, it’s time to consider starting your research. This week, part 2 of our break down of some tips, tricks, and basics to help jump start your foray into the Performance Marketing space. Read on below.
The Benefits of Performance Marketing
In the current digital-heavy marketing landscape, Performance Marketing has many benefits. For one, you can up your brands growth and reach through targeted third parties. Building on your influencer (affiliate) angle in this way lets you reach untapped audiences, thus increasing your overall market reach. On top of this, Performance Marketing is an easily trackable and accessible brand of the greater social marketing umbrella. With the right applications your brand can track the click-to-consume path of each buyer, and pinpoint when to invest more and in whom.
Since Performance Marketing sees payouts given after the agreed upon actions take place, the risks are also vastly lowered. This leaves space for your brand to try out and expand upon other marketing efforts on an as-needed basis.
Some Basic Tips and Terms:
Have a Solid Place to Land
Your landing page, or the page of your website accessed through hyperlink on other websites (usually your homepage), is a crucial aspect of your image. A bad landing page can dissuade consumers from engaging with your brand and product. Furthermore, potential partners may be hesitant to invest in your product.
To avoid these potential pitfalls, test your websites user experience thoroughly before rolling it out. Make sure all links are up to date and take time to consider the aesthetic as well.
In this vein, make sure you are testing and assessing your websites overall flow. An A/B Test is an experiment where two or more variants of a page are shown to users at random, and statistical analysis is used to determine which variation performs better for a given conversion goal. Determining the approach that works best for your brand needs is key.
Be a Team Player
Strong brand/affiliate relationships are at the heart of Performance Marketing. Aside from obvious steps, like making sure both parties are following FTC (Federal Trade Commission) standards, you should check in often and draw up a list of guidelines and agreements.
Performance Marketing is a growing and expanding form of digital marketing that savvy brands should be engaging with. Trend studies prove that it is bringing in ample investments, which will help the space evolve further in the coming year. Performance Marketing is a great way to take the many facets of influencer marketing and make them manageable, with multiple resources devoted to it. So, whether you’ve done your research and are looking for an excuse to jump in, or are just starting out, take the time to look into Performance Marketing for your brand today.