Are you looking to maximize your marketing budget while also making sure that you’re getting the highest number of conversions? Performance marketing is a great way to ensure that you utilize your budget to its fullest extent. Agencies, affiliates, and even influencers will need to ensure that they do their part in helping your business grow, rather than just saying they’ll help.
Here is everything on what is performance marketing and how it can help your business.
What Is Performance Marketing?
Performance marketing is the process of paying for the performance of an agency, sponsor, or other ads, rather than the service itself. You set a metric that the other person needs to hit before you pay them.
Companies will utilize performance marketing when they want to ensure that their digital marketing campaign sees results. Sometimes, companies promise that they’re going to deliver and only end up wasting your time and money.
Tracking Performance Marketing Metrics
There are key metrics that you’ll pay attention to with performance brand marketing that you’ll need to talk over with the other party.
For instance, if you need the campaign to help promote your mobile game. You might want to see the metrics for how many app downloads you received while also tracking how many of those people opened the app and played the game.
Other companies might need to focus on engagements, qualified leads, or even site traffic.
Negatives of Performance Marketing
There are negatives to performance marketing. The first and foremost is the fact that not everyone will be on board to do performance marketing campaigns.
If you’re approaching an agency or affiliate and you say you want to go based on their performance, they may not want to work with you. Or, even the company or person doesn’t hit their agreed-upon metric but does give a boost to that metric, they might see you as taking advantage of them.
If you’re in need of a performance agency, DPDK is the agency for you.
Who Benefits From Performance Marketing?
Companies that are realistic with their goals should look into performance marketing. If an agency or Advertise Purple affiliate marketing for small business says they can make you 100 extra sales over 3 months and that sounds realistic to you, you can sign the paperwork.
Affiliates and agencies can then take the fact that they delivered these results and use it to acquire new customers. This allows both parties to benefit from setting the goals and achieving them.
Start Your Performance Marketing Campaign Today
So, what is performance marketing? Performance marketing is the best way to ensure you get results without guessing.
You go with a trusted company that promises results and in the end, both parties receive something. You get the increase for the metrics you were looking for, while the agency or affiliate gets a returning customer.
If you want to learn more about different types of marketing, then be sure to check out the rest of our blog. Know someone interested in performance marketing? Share this article with them so they know what they’re signing up for.