Performance marketing is a fast-growing form of marketing. Though it’s been here for many years, the popularity of performance marketing is rising as we are moving ahead in the digital cosmos. And that’s for obvious reasons. And what’s that? Performance marketing has something for every party involved.
Well, in our previous post about performance marketing, we have already talked about what is performance marketing, who are the participants of the performance marketing campaign and how it can be beneficial for you. But we didn’t go into how you can go about performance marketing. And today, that’s what we are here for.
Performance marketing is a broad term. There are numerous ways to do it. How things are gonna work, the cost involved, etc., come next as all these depend on the mode of performance marketing. So, to get started with it, you need to decide about the type of performance marketing channel.
Okay, what are the different types of performance marketing channels? Keep reading to find out.
Native Advertising
It’s one of the performance marketing techniques that focuses on showing ads to the audience without making them realise or feel that they are watching one. Native advertisements are the paid ads placed strategically amid the other content of the website. And that’s generally below the main content of the website, surrounded by the suggested content. Though identifiable, a viewer can’t instantly find out it’s an ad. It’s because the ads are presented in style matching the main content. As the flow and consistency don’t get disturbed, native ads hardly annoy. And that’s a reason that they get preference over the display ads. However, for that to happen, the ad content should be similar (related) and informative rather than sales-focused. Furthermore, social media feeds can also display native ads. And with this, you have retargeting opportunities as well.
High Impact Mobile Advertising
With mobile becoming the go-to option for every information consumer needs, what can be one of the best ways to be in front of your audience? Yes! It’s High-Impact Mobile-Ads.
And what are those ad formats, which have a lasting impact even in this decreasing attention span world? These are –
Video ads
Carousel ads
Banners
Gamified Ads
Search Engine Marketing
Here we have yet another popular digital performance marketing channel – SEM. It aims at enhancing your visibility on the search engine result page (SERP) by creating awareness about your brand and attracting the right prospects as leads. And how does it happens? Through paid ads. With that, you get the freedom to pay when an action takes place. In SEM, it’s mostly about getting clicks; you need not worry about wasting your budget without getting results. All you have to do is to set the ad metrics right and craft a click-worthy ad copy. Now, experience the power of performance marketing through SEM. Further refinements after analysing initial results will help you narrow down your ad targeting so that you can get a better ROI.
Social Media Marketing
With the continuously rising number of social media users, social media marketing offers a good opportunity to reach your target audience. Here, not only you can increase your reach, but you also get chances to connect and interact with your audience. It can boost your engagement rate. Through social media marketing, you can increase your brand followers, traffic and visibility. And which social media platform should you select? Well, that depends on your industry, business niche, and the availability of your target audience.
CTV & OTT Ads
Okay, can you answer this one? What’s the favourite place to enjoy watching TV and other entertaining content, especially for millennials and Gen Z?
Hmm…
Yup, you got it right!
Connected TV and OTT.
That’s the reason CTV and OTT ads are becoming the choicest option to present ads. All those ads that were being served on linear TV can now be served to the specified audience, can be measured and thus, generate better ROI.
Programmatic Display Advertising
Programmatic advertising, in simplest terms, is the use of software to automate the ad buying process on digital channels. Unlike display ad networks, in this type of marketing, ads are bought and sold on ad exchanges, having a large number of both publishers and advertisers. And both the parties interact on the marketplace (ad exchange) in an automated way to buy and sell ad inventory.
Affiliate Marketing
It’s a popular form of digital performance marketing. Here, you partner with a third party that helps you promote your business and reach your goals. It could be sales, traffic, views, etc. And in turn, you pay an agreed commission as compensation for every completed action. With this method, you save cost as you don’t have to pay anything if the desired action is not taking place. Suppose you sell a keyword research tool. Your goal is to have more conversions. A digital marketing blogger gets into partnership with you as an affiliate. Now, the person will promote the product for you, and if you get conversion through him, you will pay the agreed commission.
Conclusion
So, we have seen different types of performance marketing channels. They help you enhance your visibility, widen your reach, and take you closer to your goals. And all these happen without any wastage of your financial resources, as you pay only upon completion of the specified action. So, you can enjoy a higher ROI.
In performance marketing, all the involved parties are always on the winning side. All you need is to combine a robust strategy with an appropriate performance marketing channel. And you can reap great results.
So, don’t delay. Start performance marketing now.
Are you looking for a reliable and skilled agency to manage performance marketing? Connect with BigBang. We have a team of passionate marketing professionals who know the art of combining the best industry practices and innovative techniques to produce the desired results. With us, the best outcome is guaranteed.