Do you know what performance marketing is? Well, it’s an experience gap that occurs in businesses. Since the competition is increasing and more and more companies are moving to digital platforms, things are affecting the growth of the business.
Many social platforms like Google Ads and Facebook are charging high for more click, which can be one of the reasons for the higher acquisition cost.
Therefore, it is important to have performance marketing, especially when there’s high Paid Social, Paid Search, Paid Referrals, Email marketing, Organic Search, and Programmatic. While there are many experts like SEO and Marketing experts to manage everything, you hardly see any performance marketing expert understand the complex digital marketing landscape.
Furthermore, marketing technology is one of the fastest evolving industry, but not many of them know how and what to use from them. Here’s how you can improve your performance marketing and ROI:
Try The ‘Always-On’ Framework:
So, what you are going to test? Almost everything! Just focus on making creative changes like the ad length, the creativity of the ad, messages, and more. You can also make changes like alterations on conversation platforms like landing pages, websites, and more.
You can use testing and attribution framework to know how various channels perform and what is the net positive/negative impact occur on your changes. Apart from that, you should also need to check other metrics of the campaign.
Even, if you have hired a digital marketing agency for doing paid search, let them do complete testing to identify all the marketing flaws. You can also apply your lessons learned and conclusions on other channels. Let’s say you are running a Google Search Ad and find that the call to action ads like ‘ give a shot to our new products’ perform better and helps in engaging more audiences.
Work On Your Measurement And Attribution Framework:
Brands that depend on digital channels often fail to figure out the overall strategy and apply same one-size fit strategy when it comes to attribution. However, the situation has various components that keep on expanding as you continue to have more channels.
So, how can you set your attribution framework?
The fact is, there’s no actual way to keep a check on attribution. People often rely on the last-click attribution, which means the last ad a person click on before buying the product is applied to the sale. Doing this leads to brands ignoring the top of the advertisement. Also, even other attributes require testing, and the best part is that attribution safeties can solve this by letting you create a multi-touch model that is far better than the first or last click. Besides, it will also give you real insights into the data and statistics.
Keep An Eye On Balanced Funnel:
In the era, where there are no middlemen, people easily get caught in the lower funnel, which technically called as navigational media. Navigational media are following people who have an interest in your products or services.
Also, you can use it to convert leads into sales and conversation, by focusing on the strategy that you are not differentiating between your brand and business. However, from the past few years, brands have shifted more toward the upper funnel to put pressure on sales and market.
Focus More On Long-Term Goals:
With instant gratification becoming popular and purchases being just a click away, brands and businesses are seeking more attention. It has become a game of who gets more attention, especially when you are in a business that operates online.
However, the downside of this is that such things are short-term and can also lead to inaccurate conclusions. But, businesses who offer monthly ROI don’t have a cluster of buyers. In fact, they are more focused on converting leads to buyers to create a difference in sales and margins.
Try New Platforms And Channels:
You can also increase your performance metrics by using various channels like YouTube, Podcast, and more. These platforms contribute more to increase the ROI and to the DTC brands so that you can easily check the digital ad spend per week.
So, this is how you can improve your performance marketing and can also strengthen your ROI. Keep them in mind and grow your business.