Performance marketing is a subset or part of what you’re working toward with your overall digital marketing strategies and campaigns. In performance marketing, various online advertising third parties are paid when an action is taken, for example, downloading an ebook. This type of digital marketing approach is designed to drive qualified prospects to your product or service and ensure you get the most out of your campaigns. It also offers businesses a guaranteed return on investment and fast results.
Benefits of performance marketing in B2B include payments for results, faster gauge of success, a range of platforms and formats, and the ability to track and optimise campaigns. Examples of performance marketing include affiliate marketing, display ads, native advertising, paid search marketing, and sponsored content. It’s important to measure performance marketing, too. Tracking the return on investment (ROI), cost per lead, conversion rate, and customer lifetime value (CLV) can help you optimize your campaigns.
Performance marketing is changing the B2B landscape as it allows you to target your audience across platforms better and deliver solutions that address customers’ needs. To find out more about performance marketing, have a look at our other articles, such as ‘Marketing analytics: What it is and why marketers should care’, ‘5 ways to optimize your ad campaigns in 2023’, and ‘How to ask customers for reviews (and actually get them)’.
Originally reported by Martech: https://martech.org/why-we-care-about-performance-marketing-2/
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