One of the big waves and advancements in the marketing world today is the concept of performance marketing. To explain it briefly, performance marketing is the act of paying money for marketing only when a particular action is performed. Whether that’s paying per thousand impressions, or whenever someone clicks on a certain link, you get to decide.
The system is very flexible, but also is a powerful tool that can grow your business tremendously. Here’s why you need to consider it.
It’s Got Huge Backing
Many people have caught on and started to use performance marketing to build their brand already. But they didn’t jump onto the bandwagon very quickly initially. In late 2015, a Forrester study, commissioned by Criteo found that 59 percent of those surveyed were just now planning on investing into performance marketing.
It’s caught on now, but in its early stages, people started to embrace it once companies like Google and Facebook improved their systems or fully embraced the technology. Google has always been the flagship with platforms like Google AdWords and other marketing tools like Keyword Planner. People embraced it more once the platform started to share more details, but also share success stories. Here’s a handful of them from as late as 2014.
Affiliate Networks Love It
Affiliate marketing has been around for a while now and performance marketing has made this marketing approach all the more appealing. Today it’s not out of the ordinary for many people to live laptop lifestyles selling other people’s products.
Performance marketing has made this easier as affiliate marketers who want to make it big need to understand this system. When leveraged correctly, affiliate marketers can be making thousands every month or even daily.
As a business, what this means is affiliates can add innovation to your product and much more. This only makes running your business easier long-term.
It’s Easy To Get Into It
Performance marketing is both easy but difficult. However the difficulty of performance marketing stems from the amount of time and research a company needs to do. Overall, the lingo, charts, and the platform itself is easy to use and understand.
As such it doesn’t require a large learning curve in order to fully understand the system. The challenge is how to leverage it. At the same time though, once you can leverage it, you can grow substantially. Here’s a quick and easy guide on using Google’s Keyword Planner.
Don’t Be Afraid Of Performance Marketing
Performance marketing today is more accepted and is now the golden standard in marketing. If you choose to start a business, understanding the basics of performance marketing will only grow your business.
Furthermore dabbling in performance marketing can give you a strong understanding of the system. Even using Google’s Keyword Planner can add a lot to how you want people to view you, but also how to advertise once you set up ads. If you don’t know what to target, it makes growing your business all the more harder.