In our previous blog, we talked about the basics of performance marketing. We learned what it is and how it works. But let’s move forward and discuss performance marketing in detail.
As mentioned in our previous blog, performance marketing is all about measuring the actions of the consumers and paying for that action subsequently. And since that is the case, a business that is using performance marketing for business promotion must know different performance marketing strategies and channels. In this blog post, we will discuss the same.
Performance marketing strategies
- Cost per click (CPC): In this strategy, an advertiser will pay the publisher only when the advertisement is clicked on.
- Cost per Impression (CPM): In this strategy, the advertiser will pay the publisher for every 1000 times their ad is shown.
- Cost per Sales (CPS): In this strategy, the advertiser will pay the publisher only when a direct sale is generated due to the advertisement.
- Cost per Acquisition (CPA): In this strategy, the advertiser will pay to the publisher only when a particular action is completed such as a click, a sign-up, an application form submission, and more.
- Cost per Leads (CPL): In this strategy, the advertiser will pay to the publisher only when lead generation occurs directly due to the advertisement.
These five strategies are based on two things: the objective of the advertisement and the action that measures the effectiveness of the performance marketing. Based on the right campaign goals, choice of strategy, you can get the best results.
Performance Marketing Channels
Choose the right performance marketing strategy from above and use the right channel to implement and promote your business effectively. Let’s talk about five performance marketing channels that you can opt for.
Native Advertising
This type of performance marketing channel is effective for those businesses that are not getting the desired traction using social media marketing or via search. In native advertising, content discovery programs can be used to display clickable content. This clickable content will be displayed on websites to the target consumers.
As compared to other types of marketing platforms, native advertising gets 10x more clicks. With the right goal and content, native advertising can bring in more consumers for your business.
Social Media Advertising
Another performance marketing channel you can use is social media advertising. Although social media marketing Singapore might seem too costly, ad campaigns offered by social media platforms will bring significant results.
Social media platforms such as Facebook, Twitter, Instagram, allows business to target their market with accuracy and precision. These platforms also allow you to bypass the organic exposure and get specific exposure and response from your target audience.
Sponsored Content
Unlike native advertising, sponsored content will drive the traffic to a specific landing page of your business website. This is the best way to reach the target audience that tunes out the traditional ads. Hence, investing in sponsored content will be beneficial.
Affiliate Marketing
If you intend to get a high return on investment, you must choose affiliate marketing. As an advertiser, you can affiliate with a publisher who will display the ads for your business on their website. You will pay to the publisher only when an action has taken place such as a sale.
Search Engine Marketing
The final type of performance marketing channel you can use is search engine marketing. By using the right Pay-per-Click campaign, you can drive traffic to your business and get a high return on investment. With SEM ad programs you can get high commercial content to drive the traffic.
If your business wants to implement a performance marketing strategy using the above marketing channels, you can get in touch with us at Hyper Fame Digital. We are a leading advertising company Singapore that is exclusively dedicated to offering performance marketing services.
Get in touch with our professional team now to know more.
