Are you in business? Then, I’m sure you are aware of the constant and rather exponential growth in the marketing arena, specifically in digital marketing. Actually, what we are experiencing now is a fast-paced life, full of technology, and with this comes impulsive behavior which also encapsulates marketing trends.
I understand, why any brand or company that is hiring marketing services wants to see quick escalating results. Don’t you? So, when we link marketing with the result, or rather a quick result strategy is known as a performance marketing strategy.
Surprised! Relax, I’ll talk about all of its details and essentials in this article.
I’ll First Explain to You the Concept of Performance Marketing
The whole idea here is to pay for marketing when you see conversions, usually used by big-scale companies who want to cater to a large target group.
So, whatever the target is for that particular brand be it conversion of customers, getting a specific number of followers or subscribers, or any kind of leads via different performance marketing channels, the payment is made once the results are positive.
The better the results, the higher the pay. And this is not like the traditional advertising or marketing approaches, but a new type of digital media marketing designed for the current user base. This can be done via different channels like search engines, social media, and web content to name a few.
Our team interviewed Mark Pavlovets, Founder of Sevnflow, and asked him about strategies for the long-term establishment of brand identity. With his expertise in digital marketing strategies, he advocated a dual-focused approach. Here is what he had to say:
“Navigating the intricate balance between immediate conversions and the long-term establishment of brand identity is a theme deeply ingrained in my work at Sevnflow and SevnChiro Digital.
From my experience, a dual-focused approach is necessary. While performance marketing tactics like targeted ads and SEO optimizations provide the quick wins essential for keeping the momentum and cash flow, these efforts must be deeply intertwined with the brand’s essence and storytelling to ensure long-term sustainability and loyalty.
For example, when we work with chiropractors, we not only focus on generating immediate patient appointments through targeted ads and an optimized online presence but also on building a narrative around the practice’s unique approach to wellness and patient care.
This strategy has resulted in not just a spike in patient bookings but in cultivating a loyal patient base that resonates with the practice’s values and approach, contributing to sustained growth and referrals.
Furthermore, leveraging marketing automation has allowed us to maintain a balance between immediate engagement and nurturing long-term relationships.
By automating personalized follow-ups and content delivery based on user engagement, we ensure that while we are capturing attention in the short term, we are also gradually building a deeper connection with our audience.
This dual strategy of combining immediate conversion tactics with a sustained brand-building effort has helped the businesses we work with to not only achieve but also exceed their growth objectives by fostering a community of loyal customers.”
Here Is A Detailed Explanation of How Performance Advertising Works
Primarily the advertiser needs to lay down their objectives and what they want to achieve with a particular campaign or marketing strategy. This can be lead generation, website traffic, or even sales.
Now, once the target is clear the second most important thing is to identify the exact target group and the people to be targeted via this marketing, along with details of their demographics, age, and location.
I’ll tell you some other questions that need to be considered. What is their spending capacity, what do they like to spend on, and why would they be interested in your product? Moving on we need to choose what channels we exactly need to use for our marketing, and how can the target audience be reached with a maximum reach.
Now this will be dictated by what kind of audience you have so that we can tap the channels that would be maximising the impact. These can be websites, social media, or search engines.
The next most important part is what your customer wants to see so that they will buy your product or service. This implies what your content will look and feel like. The advertisements are designed in a manner that not only appeals to the customer but also makes them want your product more or over their present product.
So, the brand and the features should be put out in a very strategic manner. You can use appropriate pictures, videos, and text so that the effectiveness is maximum, and the desired lead or conversion is achieved from it.
Now, everything that is the groundwork is set, the next step is putting a bid. A bid is the amount of money that you will pay to your marketing services provider for each conversion or whatever your required action. Along with the bid, you will also finalize the total money that you will be spending on the campaign.
Next, obviously, the campaign is launched to the audience, using the preferred channels and the performance is now being tracked. The effectiveness of the marketing campaign is gauged and a complete analysis is done.
The last step is optimizing the campaign results which are taken into consideration. Also, all tweaks are to be done so that the entire performance is improved for better results and reach.
The Icy Whiz team talked to Teresha Aird, the Co-founder and CMO of Offices.net, about balancing fast conversions with brand identity in digital marketing. Here is what she said:
“As a long-time marketer, achieving immediate conversions is undeniably appealing, but the key to successful digital marketing lies in not letting these quick wins overshadow the overarching brand narrative.
Towards this end, a strategy I’ve found effective is integrating performance marketing efforts with brand-driven content.
For example, while PPC campaigns can drive quick sales, they should be aligned with content that reflects the brand’s core values and voice. This makes sure that even transactional interactions introduce consumers to your brand identity, which builds recognition and trust over time.
Another of our effective strategies has been using data-driven insights to tailor our marketing efforts. We use analytics to understand which aspects of our performance marketing are working and adjust in real time to optimize ROI without compromising brand integrity.
For example, we employ A/B testing extensively to refine our message delivery in a way that resonates authentically with our different audience segments, while also encouraging conversions.
We also focus on CX by ensuring that every interaction with our brand – whether it’s through social media, email, or on our website – is coherent and true to our brand’s voice and values.
It’s a holistic approach that helps maintain a balance; where immediate conversions support – rather than undermine – our broader objectives of brand identity and long-term customer engagement.”
However, Performance Marketing Has Its Limitations
Performance marketing seems like a very quick and efficient method of marketing and is result-oriented. But there are drawbacks to performance marketing. Let’s see what some of those are.
- So, due to the whole idea of being just focused on results in the process of building the brand’s image, the quality is somewhat compromised.
- The campaign might be a hit and that would allure the potential set of customers but they would not be aware of the brand as a whole. So as a brand introduction performance marketing is not ideal.
- Due to the impulsive nature of performance marketing, there is a chance of dilution of the brand.
- The ads are based on CTA (call to action) so they are basically asking the viewers to actually perform an action, so the action sometimes becomes more achievable than the whole brand goal or identity. And you might deliver the ad very strongly but not the whole brand image.
Patrick Beltran, Marketing Director at Ardoz Digital, talked to the Icy Whiz team on this. Here is what he said:
“I believe there is always a need to strike the right balance between brand building and performance marketing. Performance marketing captures the attention of consumers ready to buy today, whereas brand-building and awareness campaigns cultivate future demand.
This combination has always been important, but it’s especially vital now as we navigate socio-cultural and economic challenges. There’s a temptation for brands to reduce spending on brand building as a quick fix to enhance short-term marketing ROI.
However, focusing solely on performance marketing, targeting only current customer groups and known segments, can cause brands to overlook a much broader audience they haven’t yet tapped into.
Performance marketing targets immediate demand, while brand building secures future demand.
Here’s the thing: when you focus only on tactical advertising with functional messages, you fail to establish an emotional connection with your audience. As a result, your marketing performance might dwindle, requiring continuous significant media investment.
Conversely, if you only engage emotionally with your audience sporadically, they might forget you, meaning you won’t be top of mind when it counts the most.”
So, Start Focusing on Performance Marketing
Performance marketing is a very new and trending form of digital marketing that helps cater to a lot of targets.If in case, things don’t fall in place or you do not achieve the desired target then you can try to change the targeted audience, try different landing pages, or rethink the advertising channels.
Try to make ads that are appealing to a larger section rather than a niche, so the relatability factor goes up. Most importantly allocate budget in a manner that everything adds up in a profitable manner and your brand image is not compromised in any case.
By tweaking the above changes in your product marketing techniques, I guess, you will be able to achieve the best outcomes in your marketing goals and capture a larger share of the audience. A better reach and a better conversion are the two factors that actually count in today’s digital media marketing world, which should be fulfilled in any way possible.
Guest Autor: Saket Kumar
Last Updated on May 11, 2024 by Pragya
Authors
