Performance marketing is a type of digital marketing and online advertising in which companies pay when a specific “action” is completed, or certain business goals have been met, which could be the generating of a lead, a completed sale, a click, even. It is used in sponsored and native advertising, affiliate marketing, social media advertising and search engine marketing. It has become popular in the digital era as companies recognize the importance of integrating digital communications into campaigns. Below are three benefits of using performance marketing:
Performance marketing allows your brand to promote products and services effectively, leveraging the benefits of digital – high speed distribution, maximum reach in the market. Your company will be able to achieve a more significant and diversified (segmented) audience. The different platforms help you convert sales from content, depending on which channel is most suited to that content/action requirement.
Companies using performance marketing pay only when a specific action is achieved. It is therefore a cost-effective and results-driven strategy, especially useful for businesses with a limited budget. Paying only for achieved results helps in ensuring money is well-spent.
Measurable and trackable
Instead of guessing which push strategy or which content type may work best, or relying on vague estimates, you’ll be able to track every click. Marketers benefit from instant results/insights into performance, so this allows you to see all the data, evaluate the effectiveness of your campaigns and determine Return on Investment quickly.
Unlike traditional marketing methods, performance marketing allows your brand to pay only for targeted results, tracking performance and attaining maximum reach. Businesses will generally benefit from using performance marketing as part of their overall marketing push, and it’s a valuable tool to achieve successful results.
PR is often an essential component of digital marketing as all communication efforts need to be integrated to align towards your goals and strategies. At Midas PR, we have extensive experience in integrating public relations into performance marketing. Visit our website at www.midas-pr.com today for more information or get in touch with us by email.