How to outperform Performance Marketing
Performance marketing differs from traditional marketing in many aspects, yet the fundamental differences between the two are based on performance data and relevancy. The performance data we collect gives far more information than we ever had before. With data, it is easy to measure, analyze and provide insights & proofs of returns on our investments.
Relevancy allows us to provide any product or service at the right time, at the right place, at the right price and to the right person.
Digital marketing channels we can use with performance data:
– Search Ads
– Display networks
– Social advertising
– Content Marketing
– Email marketing
– Video Ads
– Affiliate marketing
– Influencer programs
– Ambassador programs
– Ad networks
– Direct publishers
Make mistakes: No matter how much experience we have, if we are not making mistakes, we are not learning. Testing everything that we come across with through constant experimentation, and measuring and reporting to understand what worked and what did not, will help us to discover the best approaches, cut the bad performing campaigns and invest our time and budget in the successful ones. There is so much we can test:
– Various images and designs
– Different messages
– Search items
– Different audiences & demographics
– Banner locations and placements
– Various publishers and websites
– Various marketing channels
Target precisely: Knowing our audience will help us to narrow down the possible channels and campaigns that we should use to communicate effectively. There are few steps to find our most targeted audience; Firstly, we use the data collected to learn the digital activity of our audiences such as habits, usage, interests, and preferences. We can also discover characteristics about the digital audience and define personas by learning their needs, pain points, behaviors, emotions, etc. Lastly, we have to combine all the information gathered and make assumptions about their psychographic traits and habits.
– There are few ways of finding data about our audience:
– Analytical analysis
– Social audience data
– Landing page A/B testing
– Keyword tools
– Industry benchmarks
– Case studies
Focus on the value: Less is more. Focusing on clear and easy communication will help deliver the message on how we solve the customer’s specific problems and improve their situation. As simplicity is the key, the audience should be able to calculate the benefits and know in what your product or brand is different and better than competitors in a straightforward way.
Think big: Achieving small goals, but keeping your eyes on the bigger picture. Our focus should always be on our returns on investment, and quality is more important than quantity. Tracking our customer’s journey and understanding the impact of each step will allow us to learn how we can scale and understand what gives us the most value in return.