Is your business Performance Marketing ready?
Updated: Apr 27, 2022
Performance marketing is a broad term for online marketing and advertising programs where advertisers pay only when a specific action occurs. These actions can include a generated lead, a sale, a click, and more.
Vision Activated uses performance marketing as a digital marketing strategy driven by results. It’s ideal for companies looking to reach their audience at scale because payment is based on how users interact with the content.
Performance marketing can benefit nearly every type of business, but there are a few ways to tell if your business is ready and suited for a new performance marketing program.
Your Operational Area
The reach of your business lends itself to different performance marketing tactics and partners. If your company is already national - great! You don’t have to be as selective when choosing which type of performance marketing to use. However, if you’re a smaller, more local business, you’ll have to be more selective when choosing your performance marketing platforms to make sure they can target your area specifically. Vision Activated is here to help you with what media and channels would work best for your business.
Your Online Presence & Customer Experience
Since your main goal of performance marketing will revolve around your website and/or online shop, you’ll want to make sure that both are in top shape before pressing go on your first campaign. If you’re looking to do cost-per-lead advertising, ensure that your lead form and lead magnet are clear, nicely designed, and attractive to your customers.
If your main goal is generating online sales, you should make sure your shopping and checkout experience is seamless and secure for your customers. The Performance Marketing Association also recommends having a return policy and guarantee. At Vision Activated, we ensure that your website is performance marketing ready so that you can generate the max RoI.
Your Technical Needs
To make your performance marketing successful, you will have some technical pieces that need to be in place. You’ll need to be able and familiar with how to set up tracking and data feeds online ads, an affiliate program, and more, depending on your type of performance marketing. Vision Activated helps you set up and run campaigns seamlessly in a guided manner to achieve your goals.
With the future of digital marketing looking more promising each year, using performance marketing channels can help you scale your advertising efforts to meet your company's needs without breaking the bank. Vision Activated is here to ensure that your business is performance marketing ready so that it can grow to its fullest potential and you can generate the maximum RoI.
Here are some tips that will help you understand performance marketing and its best practices better:
“If you’re not testing something in any given campaign, you’re doing it wrong.”
But make sure you’re taking the time to fully understand what you’re testing and the goals you wish to achieve. For instance, if you’re doing A/B Testing, make sure the variable you’re experimenting with is directly related to the metrics you’re tracking. Be sure you have a control group for any experiment you run to identify the cause of changes in performance and then improve with an iterative process. Vision Activated uses tried and tested yet creative measures to ensure that the campaign is best suited to your needs to get the best results.
Keep Long-Term Goals in Mind
While performance marketing is excellent for driving immediate ROI, don't lose sight of the higher-funnel campaigns that brought consumers to discover your products in the first place.
Last-touch attribution might suggest you double down on the sources that drove the most direct conversions when implementing lower-funnel keywords (such as branded terms) and affiliate sites into your marketing strategies. But don't forget to feed your funnel by continuously trying to reach new audiences who have never heard about your company or your products. If these technical terms bungle you, there is nothing to worry about - experts at Vision Activated will guide you with these best practices and help you reach your short- and long-term goals.
Don’t Categorize Marketing Channels by Funnel Stage
At Vision Activated, we believe that you could create a complete funnel strategy within just about every single digital channel by itself. For instance, some people think that display is solely a top-funnel channel. We know that by leveraging the right insights, you can move consumers down the funnel in any one medium.
While you can undoubtedly use display to generate awareness, it can also be used closer to the bottom of the funnel. But as consumers move further down the funnel, you can adjust your display campaigns to target them more strategically. By whittling down your middle-funnel ad placements to more contextually relevant sites, you can save money & target audiences when they’re more likely to engage with your ads. Vision Activated are specialists when it comes to designing the best strategy when it comes to your goals.
Combine Data Across All Channels
Digital marketing grew up in silos, which means you might get a siloed view of your performance marketing. However, by focusing too much on one channel, you can lose sight of how you’re impacting consumer behaviour on other channels.
So, we recommend you take an omniscient view of customer behaviour. Without it, you’re missing the opportunity to align your marketing across channels. Vision Activated and its experts will make you understand and guide you with the proper channels and help you utilise your data in the best way possible.