Performance Marketing

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Worried about your advertising spend going to waste? Millions of dollars are spent on marketing every day, and the lack of knowledge about whether your investments are actually going to give returns or not is extremely daunting. This is where Performance Marketing comes in- a sure shot way of knowing that you can track, control and be satisfied with your advertising spend.

What is Performance Marketing?

Performance Marketing is the most effective type of marketing for companies which do not have lakhs of rupees to spend on branding and marketing. In simple terms, Performance Marketing enables you to pay only when a desirable action has been completed. This action may be a click, a sale or simply a generated lead.

Why should you use Performance Marketing?

There are several benefits of investing in Performance Marketing. There are a lot of analytics which enable you to track your performance, and quantitatively measure how well your campaigns are faring. It is 100% measurable and this data can provide immense benefits to your working and strategy. Overall, Performance Marketing also poses much lower risks than other types of paid marketing, and is completely ROI-focused.

How cost-effective is it?

The most unique aspect of Performance Marketing is how cost-effective it is. Rather than paying a lump-sum amount just to get the campaign started and hoping that you gain returns on your investment, with Performance Marketing you get the unique edge of paying only for successful transactions.

What are the Cons?

Like with all marketing strategies, there are several pitfalls for Performance Marketing as well. The issues are primarily related to compliance, and may include things like publisher fraud and infringement of regularly rules. But worry not! There are tools which help with fraud detection that can let you successfully avoid any such problems.

Some terms you need to know

CPA: Cost-per-acquisition is a pricing model. In this, you only pay for a particular “acquisition” like a click or a sale.

Impressions: The ads which are based on impressions are normally priced cheaper, for these are quite unpredictable. The fees you pay is based on the number of times the ad was seen.

Engagement: A lot of social media platforms provide Performance Marketing which is engagement-based. Engagement is the interaction users have with your ad and may be measured in different ways.

Leads: Leads can be calculated on the basis of things like forms filled in and email opt-ins Thus, Performance Marketing poses myriad benefits for any marketer looking to invest in a new channel of digital marketing. It is a safehouse for anyone who does not want to get too risky with their capital, and ensures that you have a satisfactory experience with marketing your brand.

Social Media Strategies : https://www.digihashtag.com/the-best-social-media-strategies-to-grow-your-e-commerce-business/