Here at Creative Clicks, we’re big fans of performance marketing. Even though it may seem like a new concept, we’ve been using it ever since we started all the way back in 2009!
If you’re involved in digital marketing, you’ll probably have already heard about performance marketing (if not, read this article for a primer).
So why are so many smart marketers and companies relying on performance marketing? Is it really a win-win?
From working with hundreds of companies and running, optimizing, and assessing tens of thousands of digital marketing campaigns, we’ve found that performance marketing is without a doubt the most effective and commercially sensible way to market online today.
When done properly, performance marketing can be a win for:
The main reason we think performance marketing is so valuable is that it brings clarity and transparency to your marketing results.
In the digital marketing world, despite numerous platforms, SaaS solutions, and digital ad spend options, accurately attributing results has often been a hit-and-miss affair, with complicated or poorly measured data skewing results to make them almost useless.
Back in 2017, P&G cut their ad spend by $100 – 140 million because of brand safety concerns and “ineffective” ads. Some marketing agencies had been placing client ads on ineffective (and sometimes inappropriate) online platforms. While certain metrics like ‘views’ may increase in the short-term with this approach, the quality of any leads generated is often very poor.
It may pay off for the marketing agency but often this will be at the expense of the brand funding the marketing campaign.
In short, a different solution to digital marketing was required.
One that only paid for results.
Performance marketing solves the problem mentioned above by putting accurate attribution at the centre of any digital marketing campaign.
It brings transparency into marketing (where it should be!).
No longer do you have to rely on questionable data or methodologies conjured up by inexperienced marketers to determine how well your marketing is doing and what the renumeration will be to the relevant stakeholders.
How you set up performance marketing within your business will vary depending on your specific goals, your target market, and your product or service. The priority will always be to determine the key performance indicators (KPIs) that need tracking.
An athlete training to compete in the Olympics will be incredibly focused on specific KPIs as they train, keeping a very close eye on their progress to make sure they are going in the right direction.
Whether they are measuring aerobic capacity or lactic acid build-up, lap times or calories, frequent monitoring means they can pick up on any issues at an earlier data and make any adjustments needed.
They are training with success in mind, not leaving anything to chance.
The same is true when companies begin to use performance marketing in their business. By tracking and monitoring certain key metrics, they can tell very quickly (often in real-time) what is working, what isn’t working, and what can be changed or tested to help improve performance.
Just like the athlete described above, a company using performance marketing can prepare themselves for success and remove many of the risks of traditional marketing.
Performance marketing is an excellent way of ensuring a good return on ad spend (ROAS).
Here at Creative Clicks, we love performance marketing primarily because it is driven by, and relies upon, data.
We live and breathe accurate data for all our marketing campaigns we run for our clients.
Accurate data takes the guesswork out of marketing. No longer do you have to rely on a range of changeable or poorly defined measurements to assess the effectiveness and reach of a campaign. Instead, you can rely on our team of experts.
The greater clarity you can get, the greater the probability of success. As motivational speaker Tony Robbins has been saying for decades, “Clarity is power”.
Because performance marketing focuses on results, there are more ways to measure and record successes. For example, you may choose to use any of the following to track performance of a marketing campaign:
It is up to you and the agency you are working with to clearly define expectations around every aspect of a project in advance.
Before rolling out a campaign, you will want to ensure everybody has clarity about:
With years of experience running digital marketing campaigns for our clients, we can help you introduce performance marketing into your business without hassle.
Our specialist team can arrange fully transparent KPI-driven mobile marketing solutions for installs, in-app purchases, leads, sales, and any other action-driven ad metric you need.
Contact us today to discover how you can enhance your digital marketing results.