Tired of marketing that doesn’t deliver? Impatient for the results of multi-month campaigns? Unsure if your content is bringing in revenue?
Consider performance marketing. Also known as affiliate marketing, this huge trend in marketing is a fantastic way to maximize your results with no upfront costs.
What is Performance Marketing?
As defined by the Performance Marketing Association:
“Performance Marketing is a comprehensive term that refers to online marketing and advertising programs in which advertisers pay marketing companies when a specific action is completed; such as a sale, lead or click.”
In the simplest terms, performance marketing is based entirely on your marketing’s performance — it only pays out when the desired action takes place, not based on the effort put into promoting the service or product.
That’s right: you only have to pay when you see results, not when you start the campaign.
How Does Performance Marketing Work?
Source: Business Insider
A brand or retailer (also known as an advertiser) is looking to start a campaign to earn desired actions. They reach out through an affiliate network that connects them to a publisher or affiliate — this can be coupon websites, product review platforms, blogs, social media platforms, and more.
The affiliate will then publish this campaign on their platform. Once the campaign is complete, the advertiser will pay the affiliate based on the number of desired actions achieved.
An affiliate manager or outsourced program management (OPM) company can help oversee the entire transaction or work with an in-house team to maximize benefits.
What are the Benefits?
- Track your performance: Since your campaign is based 100% on results, performance Marketing is 100% measurable. You can look at user-racking and find out what’s working and not working quickly.
- Know what you’re paying for: With no upfront costs, you only pay for your predefined results.
- Accept minimal risk: If you don’t see the results you expect, you won’t have to pay as much as you anticipated. And even if your campaigns don’t return the desired actions, you’ll still have that extra brand awareness earned along the way!
By having complete control of your goals, budget, and outcomes, you can lead a marketing campaign that delivers a real ROI at lower cost.
Tips for Success
- Set goals
Start by quantifying what success will look like. Also determine how you will measure your performance. Are you looking for clicks, engagement, leads, sales, or another type of action? This will determine not only your campaign style, but also your pricing model.
- Try A/B testing to optimize your campaigns
Measuring your performance is also important for finding out what works and what doesn’t. Through A/B testing, you can control variables and figure out what types of content work best to connect with your target audience.
- Study your data
Your data is the most important component to your campaign short of the material itself — after all, it shows whether your work has succeeded or failed and how much you’ll need to pay as a result. Monitor your traffic carefully to ensure that visitors meet your criteria and come from a reputable source. Look at who’s visiting from what platforms, and make new plans to capture more of your target audience.
- Make high-quality content
By content, we mean the following:
- Landing pages
- Video content
- Online reviews
- Anything you create that will attract visitors.
If you want to convert clicks into sales, you need to give visitors a reason to stay on your desired pages.
Give your landing page a redesign. Create top-notch graphics, videos, and blog posts. Submitting contributed content on resources like on The Manifest, a business news site, will draw viewers to your expertise and your site. Wield the power of video through thoughtful, meaningful content.
Also, consider online reviews. They’re a powerful tool in your marketing tool box: 84% of people trust online reviews as much as an in-person referral.
Depending on your needs, integrate content from specialized sites like on the reviews site, Clutch—oriented for B2B vendors. Clutch and its sister sites, The Manifest and Visual Objects, are great platforms for B2B buyers to find businesses on.
Let’s Get Started
Looking for a firm to help you get started with performance marketing? Consider SDM! An AdWords certified partner, we work with companies around the world to provide full-service digital marketing services, including performance marketing.
Contact us to get a quote today.