Performance marketing is a type of digital marketing that focuses on the performance of the customer, and not just their purchase.
This marketing approach uses a range of tactics to increase conversions, such as A/B testing, content marketing, search engine optimization (SEO), etc.
Performance marketing has been around for decades but it’s only recently become popular thanks to influencers like Gary Vaynerchuk.
Performance marketers have seen increased success when they focus on brand awareness or customer loyalty instead of short-term sales opportunities because it creates more sustainable growth over time.
This blog post will discuss what performance marketing is and why it’s so important for your business!
What is Performance Marketing (in simple words)?
Performance marketing is the act of using analytics and data to measure the performance of your customers.
Performance marketers use tactics, such as A/B testing or content marketing, in order to increase conversions.
Why Performance Marketing Is Important for Your Business?
At its core, performance marketing’s goal is brand awareness through online channels like social media, email marketing, and SEO.
In addition to the goal of awareness, performance marketers also focus on customer loyalty in order to create more sustainable growth over time.
Performance marketing can be used for both B2B and B2C companies.
Performance vs Digital Marketing?
If you’re wondering, “is Performance Marketing the same as Digital Marketing?” then this is a great question.
Performance marketing does include digital aspects like SEO and content marketing but it also focuses on A/B testing, customer success rates, etc.
This means that there are some significant differences between Performance Marketing vs Digital Marketing!
Some B2B Examples
One example of Performance Marketing is when a company will do A/B testing on two different websites: One with a single call to action; another with three calls to action, or something similar like that.
The Performance marketers would then look at metrics such as conversion rate, bounce rates, and time spent on the website to see which one was most successful.
How to run a Performance Marketing campaign?
Let’s say you wanted to run a Performance Marketing campaign for your company.
You could create an email list of potential customers and send them offers, discounts, or promotions that appeal to them.
This would result in increased conversions because the customer is being targeted with something they want!
Of course, this example only uses one tactic but performance marketers typically use a range of tactics to increase conversions.
Performance Marketing for B2B
Performance marketing is not just reserved for businesses looking to sell to consumers but also includes business-to-business (B2B) companies, such as companies selling their services or products.
The strategy for these types of companies is very different.
Performance marketers for B2B focus on increasing leads and decreasing sales cycles in order to be more efficient with their time.
The takeaway here is that performance marketing can be applied to any type of business!
What is the future of Performance Marketing?
It’s hard to say what the future of performance marketing will be.
One thing that is certain, however, is that performance marketing continues to grow and evolve as technology advances!
For example, social media platforms like Facebook are building tools for brands in order to better understand their customers through analytics.
This means businesses can more effectively measure the performance of their social media marketing campaigns.
Conclusion:
The future of performance marketing is unpredictable but it’s safe to say that as technology evolves, so will our understanding of this type of marketing for B2B.
I hope you enjoyed this blog post. Please give me your feedback and thoughts in the comments below!
Ali is a digital marketing blogger and author who uses the power of words to inspire and impact others. He has written for leading publications like Business2Community, Inc. Magazine, and Marketing Profs. When not writing, he enjoys spending time with his family.