Brands need reliable ways to engage consumers and generate leads at scale. So, what if I told you there is a way to create long-term engagement and drive actions further down the funnel, beyond just the initial click or form fill? Enter: performance marketing.
Performance marketing introduces a dynamic and diverse mix of avenues for advertisers to generate leads (or sales) from high-intent consumers at the moment they are most ready to take action. The performance marketing formula is simple: deliver the right message to the right person at the right time and place to encourage action. Performance marketing de-risks media spend and increases advertising efficiency by connecting you with high-intent consumers interested in your products and services. While this may sound too good to be true, the reality is, performance marketing has proven its effectiveness time and time again.
With performance marketing, you can pay only for the results you want
One of the leading benefits of performance marketing, with solutions providers like DMS, is that you can set up campaigns to only pay for the results you want. When considering performance marketing, it’s imperative that you find a performance advertising solutions provider that invests their own media dollars, allowing you, as the advertiser, to pay only when a defined action – like a lead or sale – happens.
When you’re only paying for the results you want, the goals of both the performance advertising solutions provider and the advertiser are the same, because you’re both seeking the same final action. This pay-for-performance model allows performance marketers to de-risk the media spend of advertisers while scaling advertising results. That means performance advertising provides trackable results with a linear connection between ad spend and performance, providing clear attribution and accountability in spend.
Performance marketing provides valuable data that can be used to enhance targeting and engagement
In addition to providing results, performance marketing provides valuable data. Plus, some performance advertising solutions providers, like DMS, allow advertisers to access aggregated data assets. Access to strong data assets helps performance marketers target the right prospects with relevant content to encourage immediate action. But, to obtain the results you want, it’s important to have access to the right data, which means access to a database that is significant in size and regularly updated.
Real-time data signals
Real-time data signals use current consumer behavior to indicate intent. These signals can provide a better understanding of what stage in the buyer journey each individual shopper is currently at, allowing advertisers to engage and re-engage each consumer with messaging that resonates and encourages action.
Demographic data can be used to target audiences and allows for early and easy segmentation after a lead has entered the funnel.
By identifying behaviors and attributes common in higher-converting segments, behavioral data enables performance marketers to create campaigns that resonate with consumer mindsets, beliefs and intentions.
Disposition data offers insights into what is and is not working in your performance marketing efforts, including lead sources, nurturing channels and sales representatives. This data can be valuable for mapping out lead generation campaign optimisations and enhancements.
Real success in lead generation comes with regular testing and optimisation, resulting in the best balance of quality versus quantity. Data must play a big part in those optimisations, especially campaign performance data. With the right data, testing strategy and performance advertising solutions provider, lead generation efforts can help advertisers drive consumer interest, prompt decisive actions and generate loyal customers.
A diversified, yet targeted media mix creates more effective campaign optimisations
Performance marketing gives advertisers access to a diverse media mix, including search, social, email, display and more, helping advertisers put their brands in the places consumers spend their time. But, performance marketing is not designed for the “spray and pray” approach. Performance marketing is meant to be targeted to the channels and audiences that perform best.
For example, performance marketers can structure campaigns to target specific zip codes or high-performing keywords, as opposed to targeting broad audiences that encompass consumers who are less likely to become loyal customers. Many advertisers tier their audiences with the greatest media spend going to audiences with the greatest propensity to convert. Smaller budgets can go to test audiences that may or may not achieve average performance. That way, advertisers are able to test and scale without breaking the budget or producing disappointing results.
Performance marketing is the way forward
Today’s highly fragmented digital ecosystem, within which consumers are increasingly window shopping, presents a clear path for the pay-for-performance advertising model. Performance marketing has, time and time again, proven its effectiveness as a solution that consistently helps advertisers ensure they are receiving and paying for actions that specifically align with their advertising objectives.
For advertisers seeking innovative and effective ways to create long-term engagement and drive actions further down the funnel, the answer is clear: performance marketing is your solution.