When starting performance marketing, whether it is to implement, trace and measure specific actions or aiming to achieve a higher return on investment, there are 5 steps to consider:
1️⃣ Cost: While it is difficult to calculate performance cost, you can consider the size of your company and scale of your project when attributing your pricing and budget 💲💰
2️⃣Delivery Capabilities: Choosing the right network or provider is essential to best utilise the costs and investment put into performance marketing. As it encompasses both paid advertising and brand marketing, ensure that your mediums to deliver them fits best with your strategy 👥
3️⃣Competition: Evaluate and investigate competitors to ensure that your delivery mediums and costs are used efficiently as a way to make your product or service stand out to gain the return on investment from the costs invested.
4️⃣Service Level Requirement: Obtain the right support in measuring whether your set goals for performance marketing are achievable📈
5️⃣ Resources & Expertise: Rely on a network of performance marketing professionals such as media companies, agencies or affiliate partners to obtain the financial results desired.
Have you ever used performance marketing?
