You have a great site, good traffic, well-developed contextual advertising, and indeed an excellent business but you want to increase sales? Performance marketing on the performance marketing platform base will help!
Performance marketing software is a set of online strategies based on metrics that allow you to promote a product or service and pay only when an advertisement encourages action.
How to determine the effectiveness of such an event as performance marketing? For this, there are a lot of different indicators. For example, what determines the cost of advertising impressions – the frequency, the number of clicks and other factors. In simple terms, do not underestimate the important aspects of estimating the cost of expenses. All these tools help determine the effectiveness of your actions.
Initially, this method was based on contextual advertising and traffic analytics. Now the list has expanded significantly due to other channels, tools, and methods of promotion on the Internet. They all bring fast and high results that can be measured:
- SEO (number of site views, posts, articles, the effectiveness of keywords and tags)
- SMM (effectiveness of posts and individual messages, growth in the number of subscribers, user activity)
- Email marketing (the number of open letters, clicks on the button in the letter)
- Remarketing (the amount of returning customers, the effectiveness of ads).
In order to find your individual approach you need to:
- Understand the main goals of the client
- Do competitor analysis
- Identify working methods of interaction with customers
- Develop a strategy
- Distribute the budget between placements.
At the same time, the more information about the company, product, and target audience you use, the more accurate the strategy will be. The main goal is to increase sales and at the same time reduce the cost of attracting a potential client. You need to start performance marketing with a realistic assessment of the situation. Analyze current advertising critically and see the effectiveness of each tool you use. Determine the numbers, costs, time and make a clear vision of exactly what you want to get from marketing activities. Put an accurate and measurable goal. For example, one of your business objectives is to increase sales by 10% next year. What can you do for this? Go to a new target audience? Change online feeds? Perform a full analysis of current marketing to find out what affects sales today? Based on the answers to these questions, make a general plan. It is very important to have a 100% understanding of the reality of what is happening and the goal, and if this is not the case, ask yourself the following questions:
- How much money do you want to invest in marketing?
- What sales volume are you interested in?
- Do you have a plan?
- At what price are you ready to receive 1 customer?
- What return on investment do you want to buy from this?
The more accurate and comprehensive answers you give, the more effective the plan will be in action. Do not be lazy to register all the details and features of your business, including small details and nuances. This will help make the strategy more integrated. For example:
- All the features of your product/service
- Amount of average check
- Major business problems
- Your merits
- Customer life cycle.
Focus on those tasks, which require less cost and bring more results:
- Determine the main audience.
- Create a sales funnel for each separate group of goods/services.
- Analyze the actions of customers at different stages.
- Find out the goals of users at each stage.
- Consider the interaction of the client and the company in social networks, on the website, in applications.
- Determine the CRI for each stage.
- Find the obstacles you need to fix.
Based on the collected and processed data, create a strategy for managing and implementing marketing. Thus, you will only make informed decisions about the subsequent development of the business.
A successful performance is a deep awareness of the customer’s behavior on the Internet. A successful entrepreneur must understand how the consumer interacts with advertising.