In a recent shift, companies of all sizes are embracing the power of measurement, analytics and agility in marketing. The days of drawn out awareness campaigns and presumption based strategies are quickly being replaced with direct response interactive campaigns, immediacy is invaluable. Successful marketing campaigns are still a product of great traditional ingredients, yet, when combined with science and technology, there is a dramatic upswing in successful consistency.
With new technologies comes new capabilities and total performance marketing is the next chapter for marketers. So, let’s have a look at the basics:
What is Performance Marketing?
Performance marketing is a campaign system that is goal driven and measurable.
What is a Campaign?
A Performance Marketing Campaign is a strategic effort to drive Conversions.
What is a Conversion?
Performance Marketing Conversions are defined actions that signify the completion of a goal.
What is a Goal?
Performance Marketing Goals are calculated conversions derived from financial objectives.
What is a Financial Objective?
Performance Marketing Financial Objectives are monetary targets a business formulates to increase revenue and/or profits.
What does Measurable mean?
Performance Marketing Measurement is the process of tracking and collecting important data that is used for decisions that increase profits.
Why is Performance Marketing important?
Performance Marketing increases the efficiency of marketing campaigns. It minimizes losses, maximizes gains, and provides the marketing data required to scale a business.
The next blog post will outline the basics steps of how to get started with Performance Marketing.