Introduction
Recent times have witnessed the rapid digitization mainly owing to the robust technological advancements and the global pandemic that have dictated the world and its choices over the last decade. At this point, not only reaching but also reaching the relevant audience has become vital in order to keep your costs low and ensure sustainable growth to your business.
Under this scenario, a growing share of marketing budgets is being allotted to a rising vertical known as performance Marketing. This precision in paid marketing services results in greater benefits and returns for branding investing in performance marketing.
Performance Marketing: An overview
Performance marketing has become a go to strategy for not just the digital first brand, born in the digital world, but also for the digital disruptors and traditional brands of the world. In this, businesses only pay when a particular result, as agreed upon before, occurs. What this outcome is varies upon the nature and priorities of the business. Usually, it is a new sales lead, an actual sale, or any such outcome that is desirable for a marketer. Performance marketing relies on the usage of mediums like affiliate marketing, virtual advertising, and sponsored content.
The importance of Performance marketing
Data and technology can help sort consumers, their triggers, barriers and motivators at the initial stages for brands and marketers to target them.
Performance marketing, as a concept, is gaining widespread popularity and acceptance in recent times owing to the several benefits that it spells out for businesses. The first and foremost benefit of performance marketing is an obvious one. It enables your business to benefit from the follower base, budget, and efforts of third parties at a reasonable charge. It can bring in new customers, sales as well as investments for your business by increasing consumer awareness regarding your brand and its offerings.
Additionally, this virtual method of marketing is also easily and completely trackable which allows your brand to be in control of all marketing processes and also gain insight into consumer behavior based on the data from the clicks.
The most important and distinguished benefit of performance marketing, however, has to be the fact that you are not to pay anybody anything till a desired and measurable outcome surfaces. This drastically lessens the risk involved in marketing investment by ensuring that you are only paying when you have your requested results, thereby leaving more scope in the budget for your other marketing or related endeavors without compromising on the utility of the campaign.
What can a performance marketing agency do for you
The prospect of performance marketing, from the above pointers, does seem immensely appealing. So now the question that arises is- How can one get started with performance marketing? Well, the answer to that is simple- Get an expert agency involved!
A good performance marketing agency brings aboard a variety of specialists to carry out your marketing processes with the utmost efficiency and creativity. With their experience and insights into the industry, they have good knowledge of the way people and markets work. Some things that you must look for while picking out your performance marketing agency are years of experience, a list of services, and reviews from past customers. This can help you understand whether or not a given firm is the right choice for you. One agency that’s catching all the eyeballs is ET Medialabs.
ET Medialabs is a leading Growth Marketing & Analytics Company with a prime focus on delivering sustainable business growth to some of the best unicorn brands in India. It is both Google’s premier partner &; Facebook’s Marketing partner. The leadership at ET Medialabs consists of seasoned professionals from the IITs and IIMs with 10+ years of experience. They have a unique set of skills knit together by a client focused approach and high business acumen, sharpened by years of experience in driving growth. It also helps its clients with Automated Media Buying using Intelligent algorithms to substantially increase ROI and achieve business objectives in the most effective manner.
Summing Up
The field of digital marketing is soaring high in the present Covid times. As the world has transitioned into virtual spaces and become comfortable with all things digital in recent times, one can anticipate technology to become a permanent part of the upcoming tomorrow. Thus, domains like that of performance marketing are the future. Any firm looking forward to sustaining and growing itself through digital mediums in the future must try out such domains and avail the many benefits. The scope of this article provided a glance at the promises that the field holds and how you can get started with it.
The above article is authored by Manu Gupta, AVP, Digital Success, ET Medialabs.
