Important facts about performance marketing in eCommerce
The digital shift of the global corporates justifies the increasing investments in digital advertising. Recent data shows the global digital ad expenditure was USD 325 billion in 2020. There are reasons behind this growing popularity of digital marketing. Several new strategies make this shift possible. One of the newest cut-throat strategies is performance marketing. Hence, the need for an eCommerce performance marketing agency is growing rapidly.
What does performance marketing mean?
Digital marketing is evolving with new approaches every now and then. Performance marketing is such a strategy that requires eCommerce businesses to pay for each update of a result. It can be leads, impressions, bookings, downloads, clicks, etc. This form of marketing is sometimes called digital performance marketing also. Performance marketing undertakes brand marketing and paid to advertise altogether. This marketing form is gaining popularity for its results-based expenditure factor. Many times, performance marketing is seen as affiliate marketing as well. But there are some similarities, but they are not exactly the same.
Affiliate marketing vs. performance marketing
Affiliate marketing is a strategic method that digital marketers are using for quite some time now. It is safe to say affiliate marketing is a form of performance-based marketing, which is an integral part of performance marketing itself. Apart from referral and coupon associations with partner businesses, affiliate marketing includes influencer marketing, application-based marketing, and much more. Performance marketing is an umbrella term for several kinds of result-oriented digital marketing hacks that include Email marketing, Search marketing, paid to advertise, etc. In addition, affiliate marketing is a potential form of performance marketing. Bornate's expert team focuses on the various operational hacks for increased results.
Transparent ROI system
Performance marketing works in a quantitative result-oriented manner. For example, suppose you are running ads in pay per clicks (PPC) or cost-per-impression (CPM) ad structure. Then, every time you pay money, you get a query, a lead, impression, or a business-worthy result. That way, you can actually track your investment and return on investment (ROI) in real-time. This facility helps you understand the trends of the market and helps the marketer formulate a new approach accordingly.
Search engine ads are effective.
For eCommerce sites, appearing in the search engine results pages (SERPs) is a big thing. Marketers vigorously work on optimizations of the landing pages. But it is not enough many times. In order to appear on the first page, you have to consider search engine ad listings. Bornate’s eCommerce search marketing agency considers the enormous capacity of search engines. Till now, almost 90% online activity of consumers starts with search engines. First, they put keywords in the search console, which generates the SERPs. Then, search engine ad listings appear at the top of the screen. These ads contain pictures and prices of the products, and one click directs to the landing page. In addition, there are text-based ad listings and shopping ads available in the top part of the screen that helps eCommerce sites greatly. These ads can bring phenomenal traffic to your eCommerce site.
Attractive social media ads
Different social media platforms have distinct ad payment structures. The cool thing about social media ads is you can add skippable and non-skippable ads to the feeds. Facebook has a unique ad marketing structure that includes maximum benefits to the businesses. Ecommerce Facebook ad agency like Bornate creates an effective ad schedule based on analytics data and audience patterns. Ecommerce ads are very much click-bait because they include prices, offers, and flashy images of products. However, this form of affiliate marketing boosts the overall performance of the marketing mix.
Advantage of sponsored content
Content is king in the digital platforms. The highly competitive scenario of the market doesn’t spare much time for eCommerce sites to attract the audience because there are hundreds and thousands of similar posts around. So, it is a good alternative strategy to lure the customer to use sponsored content. An eCommerce PPC agency calculates the estimate and gives you fair advice on using sponsored content on affiliate websites or blogs. This content can be a blog, article, or video that looks like a news item. It is also part of native advertising, which charges money in the PPC, or CPM model. This way, you spend on ads that the customer reads or clicks on.
Cost-effectivity of performance marketing
Money is an important factor for all kinds of businesses. Since the eCommerce business very much relies on sales, performance marketing may seem to be expensive to many. On each sale, when you pay for performance marketing only, it is not guaranteed that each time you will get desired results. A reputed and trusted eCommerce advertising agency like Bornate presents a full marketing strategy rather than one particular aspect. If your short-term goals and in proper schedules, performance marketing can produce miraculous results. Nothing beats the value of experience. Bornate's team of experienced marketers create comprehensive strategies for your eCommerce site considering a 360-degree approach. Performance marketing is one of the valued arrows in their quiver.