Performance marketing is a broad term for any marketing strategy that aims to drive measurable business outcomes. It has grown in popularity over the last decade as companies realize the value in aligning marketing activities with business objectives. This has led to a surge in tools and techniques designed to help marketers measure and track their marketing effectiveness more effectively with less effort. A performance marketing strategy focuses on demonstrating measurable results rather than increasing brand awareness or influencing brand affinity. These strategies are designed to drive specific strategic business outcomes such as lead generation from online channels, customer acquisition, retention or customer satisfaction. In this blog post we will explore some common trends and misconceptions around performance marketing. We’ll also explore the difference between marketing performance and marketing effectiveness.
Marketing effectiveness is all about measuring and monitoring the effectiveness of your marketing activities. This is often described as the “return on marketing investment.” This can be done in lots of different ways depending on your business and industry sector. For example, in the financial services sector there are strict regulatory requirements for the way that marketing effectiveness is measured.There are a number of tools and metrics that can be used to measure marketing effectiveness. The most common metrics are return on marketing investment (or ROI), customer acquisition value (CAV) and customer lifetime value (CLV).
There are a number of trends that are emerging when it comes to performance marketing, such as:- The rise of digital marketing and data-driven marketing- The rise of programmatic marketing- The rise of social marketing- The rise of content marketing- The rise of customer experience marketing- The rise of customer-centric marketing- The rise of brand marketing- The rise of brand storytelling- The rise of content marketing automation- The rise of marketing automation- The rise of artificial intelligence and machine learning in marketing- The rise of virtual reality and augmented reality in marketing- The rise of virtual and augmented reality in branding- The rise of blockchain technologies in marketing- The rise of virtual and augmented reality in branding
According to Gartner, digital marketing spending will reach $88 billion by 2021. There are a number of reasons why digital marketing is growing in popularity. For example, digital marketing is more effective than traditional marketing channels due to the fact that consumers are increasingly using the internet to find information and purchase products and services.Digital marketing also allows marketers to easily measure and track the effectiveness of marketing activities. With the rise of social media, online review sites and digital advertising channels marketers have more ways to engage with customers. These digital marketing channels are also more cost effective for marketers than traditional marketing channels such as newspapers and radio.
Marketing professionals are increasingly using data-driven marketing to inform their decision making and drive marketing effectiveness. This means they are using data from a variety of sources, such as from sales and marketing automation platforms, to inform their marketing activities and make better decisions.Data-driven marketing uses tools like marketing automation, marketing CRM and marketing ROI tools to track marketing metrics and enable marketers to make data-driven decisions. Data-driven marketing has been shown to be more effective than traditional marketing activities. It’s also more cost effective because marketers can identify areas of strength and weakness and target these more effectively.
Programmatic advertising is also known as automated marketing or the exchange of marketing data. It’s a digital marketing channel that allows marketers to buy and sell digital ad space across a number of different online channels. Programmatic marketing involves the use of data and automated tools to increase the effectiveness and efficiency of marketing activities. Programmatic marketing is also known as data-driven marketing because it’s enabled by the use of data from a variety of digital marketing platforms. Programmatic marketing has been growing in popularity for several years now, but it’s still a relatively new marketing channel and there are several misconceptions about it.
Social marketing is the use of social media to drive marketing effectiveness. It involves the use of social media to engage with customers, drive brand awareness and create brand advocates. Social marketing is a channel that has grown in popularity over the last decade and it has been estimated that social media marketing now accounts for around 35% of total marketing expenditure.Social marketing is often used in conjunction with other marketing activities. For example, social marketing campaigns are often used to drive website traffic, generate leads and encourage sales. Social marketing campaigns are also often used to generate brand awareness and build brand advocates.
Content marketing is the use of online and offline content to drive marketing effectiveness. It’s a broad term that is often used interchangeably with online marketing. Content marketing has been growing in popularity for many years now and is now the second largest channel for marketing expenditure, after traditional media.There are a number of ways that content marketing is used to drive marketing effectiveness. For example, content marketing can be used to increase brand awareness, drive website traffic, generate leads, increase customer satisfaction and increase sales. Content marketing is also often used to generate brand advocates, engage with customers and increase customer retention.
Customer experience marketing is the use of marketing activities to enhance the customer experience and drive marketing effectiveness. It’s also called experience marketing and it’s often used as a hybrid combination of marketing and customer service.It’s important to note that customer experience marketing is not just about marketing activities. It’s also about the way that the company delivers services to customers. It involves the use of marketing and sales activities to drive customer retention, customer satisfaction and increased customer acquisition.
Customer-centric marketing is a marketing strategy that focuses on understanding the needs of customers and meeting their needs. It involves the use of marketing activities to understand customer needs, preferences and purchase intent. It also involves the use of marketing activities to deliver a better customer experience and drive customer satisfaction.Customer-centric marketing is not a new concept. It has been a growing trend in marketing for many years now. However, it is often under-utilized and there are a number of misconceptions about it.
Brand marketing is the use of marketing activities to build a positive brand image and drive marketing effectiveness. It is often used in conjunction with other marketing activities.For example, brand marketing is often used to drive website traffic, generate leads and encourage sales. It is also often used to generate brand awareness and build brand advocates.
Brand storytelling is the use of narrative to drive marketing effectiveness. It involves the use of a narrative to engage with customers and drive business outcomes.Brand storytelling is often used in conjunction with other marketing activities. For example, brand storytelling is often used to drive website traffic, generate