The internet has revolutionized the way consumers buy products. In the same vein, it has brought about a 360-degree change in the way companies advertise their products and services. Also, there is the emergence of a unique online marketing strategy where companies can have 24/7 access to campaign performance and can only pay marketing agencies for results: clicks and conversion.
Onboard is Mint Global Marketing, a leading international marketing agency. Their team will educate us on their decision to adopt the performance marketing model.
What are the benefits of the performance marketing model compared to the other online advertising models?
Performance marketing is an ideal model for a large number of advertisers, thanks to these advantages:
Firstly, it proffers a guarantee to reduce your marketing budget and risk while increasing your target audience, market segment, and revenue streams.
Secondly, the performance marketing model is an efficient method of improving your online advertising strategy through transparent, traceable, and measurable campaign data.
Thirdly, it facilitates the measurement of the ROI of the actions. Brands can see the click-to-buy path of every consumer. And as such, it becomes easier to know which partner or channel to invest more in for greater output.
Lastly, the performance marketing model is less risky and costly than other forms of online advertising. For example, Companies only pay Mint Global Marketing after an agreed action has taken place.
What key metrics do the Mint Global Marketing brand offer its customers?
A vital ingredient of the performance marketing model is the return on investment (ROI). Every action should be tracked, measured, and reported against a pre-determined key performance indicator (KPI).
- Cost Per Click
The cost per click (CPC) metric measures audience engagement. In this case, companies only pay us every time a target audience clicks on an ad.
- Cost Per Mille
The cost per mille (CPM) metric is the cost the advertiser pays for every 1000 times an ad is shown to viewers. If you’re hell-bent on measuring impressions, this is your best bet!
The cost per action (CPA) metric measures the performance of a campaign based on the action you want your audience to take. For example: buying a product, downloading an ebook, or even subscribing to a newsletter.
What experience do you take your customers through when setting up their performance marketing campaign?
At Mint Global Marketing, we take our customers through these steps:
- Determine proposed campaign goal
The first step is to know what our customer Is trying to achieve with performance marketing. For instance: traffic generation, retargeting, audience engagement, brand awareness, and conversion.
- Select the digital channels
Based on the brand and proposed goal, we adopt a variety of digital channels for the marketing campaign.
- Create and launch the campaign
The creation of the campaign entails understanding the target audience and brand promise. After brainstorming, the ad visuals and copy are crafted for an effective launch.
- Measure and optimize the campaign
Here, we study the performance campaign; We collate data, measure and analyze the metrics, and how they can be optimized.
- To crown it all, we handle potential pitfalls arising from privacy regulations, compliance issues, and click frauds.
Give us two future trends of the performance marketing model
The performance marketing model has evolved and will remain relevant. In 2017, the model was responsible for more than 16% of eCommerce sales. This statistic puts the model on the same level as email marketing.
Let’s explore the future trends:
- We would be seeing improved options with third-party tracking platforms such as first click models, multi-touch, linear options, and time decay.
- Another heart-bubbling trend in the performance marketing model is the implementation of machine learning and artificial intelligence to drive sales across all industries.
Tell us about your brand: Mint Global Marketing.
Mint Global Marketing is a leading international agency committed to pivoting businesses to the next level through lead generation, new customer acquisition, and increased brand recognition. Our 28+ years of experience has generated over 350 million clicks across 27 countries with 8 digital channels. To know more about us, visit our website at http://www.mintglobalmarketing.com/.
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