You may have heard the term, but if you’re still wondering, “What is performance marketing?” then read on to find out more about this lucrative industry.
Perhaps no industry is more dedicated to finding the “perfect mousetrap” than marketing. Its very nature calls for a constant testing of message, methods, and measurement to arrive at an optimum Return-on-Investment (ROI) for each marketing dollar spent.
Compared to a more traditional model, performance-based marketing provides entrepreneurs with a much clearer picture of who is interested in their cheese. More importantly, advertisers only pay when the consumer has sprung the trap in the form of a click or buying decision.
The Fundamentals of Awareness Marketing
A traditional awareness-based campaign is designed to introduce a brand into the consciousness of the consumer. This results in a link between the product and the consumer’s identification with that product. Generally, brand awareness is the ultimate goal as companies attempt to transform their wares into recognizable household names.
This strategy is similar to dropping leaflets from an airplane over an entire city. While customer coverage is certainly good with such an approach, it is difficult to determine how many advertising messages landed in a potential customer’s hands, and how many ended up landing in the city dump.
However, the brand pays for each leaflet regardless of where it landed. So companies looking to control their marketing costs are contemplating a transition to a performance-based marketing package that seeks a specific, measurable, response from the consumer that can be quantified in ways that are not possible with an awareness-based model.
What is Performance Marketing?
A catchall expression, performance marketing is a comprehensive online marketing and advertising program that exists between a brand and an advertiser or marketer. This partnership results in a relationship where the marketer is paid only after a definable customer action has occurred such as a certifiable lead, purchase, or online click.
In other words, unlike traditional marketing campaigns that result in up-front fees that are not tied to the success of the ads, under a performance-based model, companies only pay for successful transactions that add to their bottom line.
Since such a campaign can be tailored to target a specific retailer’s demographic needs, the expected outcome is a win-win for both the retailer and their affiliate partner. Online performance marketing is the latest trend in developing sound business partnerships.
Building Business with Affiliates: How ClickBank Can Help
Finding affiliates to promote your offerings is rather like walking into a party where you don’t know a soul. Without an introduction, it is sometimes hard to strike up a conversation with perfect strangers. With ClickBank’s Affiliate Finder, we make those introductions for you by leveraging our affiliate network to help you build your sales numbers.
With no shortage of motivated affiliates who want to collaborate with you on the selling of your product we are able to match up their experienced digital marketers for your marketing needs.
Try Spark
To really get the hand of performance marketing, we recommend Spark, the only ClickBank-endorsed education platform. Spark has over 70 videos that harness the power of ClickBank’s two decades of expertise and is the best way to shorten the time between now and your first ClickBank paycheck.