Performance marketing is an encompassing term that covers advertising programs where marketers only pay for results (sale, lead, download) etc. and not the service provided. Performance Marketers use paid channels, including social media, paid programmatic, native advertising and more, to achieve their goals.
Marketers, Influencers, and brands are leaning more and more into this type of marketing to meet their business needs. Statista estimates that worldwide digital advertising spending will reach $646 billion by 2024.
In this blog, you we cover:
Why are Brands Moving to Performance Marketing?
- Low Risk, High Reward: This marketing strategy offers a safety net that service-based marketing does not. You get more transparency into where your money is going which reduces your risks as an advertiser. In addition, since your marketer won’t be paid unless they accomplish results, they are just as invested in your success.
- Measurable: Since advertisers only pay for an outcome, transactions are more measurable than traditional marketing channels.
- Expanded Reach: Because advertisers utilize several channels, including website publishers, social media platforms and affiliates, it’s never been easier to reach your audience where they are.
Great Performance Marketing Tools
Access to accurate data is essential for attributing the results of your various marketing efforts. Luckily several tools can help you gather all the data you need to help evaluate your marketing strategies and identify growth opportunities.
Is Affiliate marketing a part of your marketing strategy? You should check out LeadDyno. This is a user-friendly tracking solution that will help you analyze your data and generate more conversation. They also have a 30-day free trial, so you can start without added risk!
AnyTrack enables marketers to scale and grow their businesses by streamlining conversion data across their analytics, pixels, and marketing tools. It is an excellent conversion tracking platform as they work with any website, and they even offer a free plan, making it accessible to all.
Infuse gives creators exclusive access to brands and advertisers looking to share their products through influencers of all sizes. Furthermore, the app also lets you track your offers, get notifications and cash out at any time.