Performance Marketing
Marketing activities have to be performance oriented to deliver the best results. Defining goals and concepts can be challenging, but the long-term benefits are worth the effort.
Have you ever wondered what the results of campaigns you create are, and how do they affect your business or your client’s progress?
In my experience, the answer to these questions is usually – unfortunately no. This is why I want to explain how we see performance marketing and how you can benefit from it.
First of all, let’s explain performance.
Thesaurus says its synonyms are achievement, fulfillment, work or carrying something out. It basically shows that you are doing the right thing and how good you are doing it.
Additionally, the aim of the performance marketing is to achieve measurable results that make sense to you and your business.
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Implementation of Performance Marketing
By now, you may be wondering – how could I implement performance marketing in my organization?
Mission and vision
Everything starts with defining the mission and vision of your organization. They are very important as they describe where your business is going, where it wants to be and how it wants to get there.
They are the basis of your business culture and your core work. Also, everything, including your marketing, needs to be aligned with your mission and vision.
Business goals
After you define your mission and vision, as well as the values in them, you move on to your business goals. You must have long-term goals and short-term goals, but let’s just focus on yearly business goals in this example.
You start by asking yourself: ‘What does my company want to achieve this year?’
If you are working in a marketing agency or a marketing department, you usually can’t influence these goals. However, you must be aware of them. They are the grounds for building up your marketing goals, simply because marketing has to underpin the action of achieving your business goals (or at least making it easier for them to be fulfilled :)).
Marketing goals
At this moment, you need to ask yourself what you can and what you should do to achieve your business goals. It is very important to note that marketing isn’t done for its own sake, but for the good of the whole business.
Marketing budget should be planned and it should have a point to be successful. For example, if one of your business goals is to raise your sales by 10% in the next year, you can see what you can do about it. Is it reaching a new target audience? Maybe it’s changing your marketing channels? Maybe implementing analysis and measurement in marketing to see what is your impact on sales? By asking yourself these questions, you can develop an overall marketing plan.
Campaign goals
By now, you already have your marketing goals set, which leads us to defining your campaigns. This is where fun and creativity starts . :)
However, you need to make sure that your campaigns fit into your marketing goals perfectly. Each and every single one of your campaigns during a year or more needs to contribute a little bit to the marketing goals. Also, it needs to contribute to the success of your future campaigns. In that way even your smallest marketing efforts can contribute to the success of your overall business.
Conclusion
In the end, if you want to have real performance marketing implemented in your organization, you need to measure every one of your efforts. Use online tools such as Google Analytics for your e-commerce or Octalytics to see how your online efforts are impacting your offline sales. Finally, do regular market research to see how your business is growing.
Let us know about your business goals and how do you connect them with your marketing efforts, or contact us at [email protected].