Performance Marketing

2020 may seem like a blur due to the COVID-19 pandemic, however, this past year has changed the marketing landscape by creating greater connectivity through digital media.

In the space of one short year people have uprooted their routines, both personally and professionally. Deeply ingrained habits have radically changed to remote ways of working and living, propelling a transformation in industries globally.

This coupled with increased computing power, has brought a range of revolutions to the marketing world. Our technologies now have the ability to capture, process, and analyze an unprecedented quantity of user information. Let’s face it, every time we go online to read an article, use social media, or purchase a product, we leave a digital trail of data behind. When these data points are analyzed together, they reveal our digital footprint and behavioral patterns.

This shift to the digital means marketing is more easily measured, and if it can be measured and plotted, it can be predicted much more accurately too.

What is Performance Marketing?

It is a digital marketing strategy where the advertiser only pays when a specific action is taken by the consumer. For example, if a consumer clicks on an ad, watches a video, downloads an app or makes a purchase, those clicks are counted and determine the advertiser’s bill.

Some may think, that this shift to digital indicates it is time to switch the focus from brand marketing to performance marketing. But aren’t both performance marketing and branding equally important?

To illustrate this point let’s look at another change that has occurred technologically and culturally. Anyone can purchase, just about anything, and have it at their doorstep within 24 hours. This has led to a significant reduction in the consumer window of consideration. It has truncated the times between, awareness, consideration and conversionHave it in 24 hours

So, is brand marketing less important? Absolutely, not! It makes brand awareness even more important. Having faith or trust in a brand makes it easier for the consumer to quickly make a buying decision, when presented with an advertisement at the right time.

Finding the Right Balance

In today’s market, there can be significant ramifications if you prioritize one strategy over another. Brand marketing presents us with the opportunity to identify consumer insights and utilize them to develop inspiring creative. While performance marketing deals with hard data, lead generation and conversions.

“The best marketers will strike a balance. They will bring forward foundational brand elements into their communications with their consumers across every channel.”

The marketing teams who learn to leverage the insight data from omnichannel consumer behavior will be able to facilitate more effective results. An be more able to establish clear objectives for every single channel.

If your team needs help, there is always the option of hiring a creative agency, like IGM Creative Group to produce your branded graphics or to help you plan and implement your next marketing campaign.

About IGM Creative Group

IGM Creative Group provides advertising solutions, marketing strategy, web development and professional SEO services for Fortune 500, mid-market and small businesses.

Contact by phone at 973-709-1126 or send an email to creativeteam@igmcreativegroup.com

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