Performance Marketing is the combination of acquisition and optimisation to encourage engagement, enhance brand awareness, and generate more sales in an improved, efficient, and more cost-effective manner. It is the core element of any marketing campaign at present, as it has a consistent focus on delivering against marketing KPIs.
It’s time to turn to response-driven marketing to ensure longevity in the market and enjoy maximum profits. As the performance marketing aspect continues to shift and turn increasingly complex, here’s how your E-commerce should approach its media mix in 2021:
Refine Media Strategies
Your E-commerce platform can be bolstered by the right media buying and planning service. From executing your campaign to tracking the results, a cost-effective media strategy helps your ROI and channels creative energy towards developing content that supports sales, marketing, and brand awareness goals. Get connected with popular Ad networks, which act as a specially designed platform to magnify the reach of your advertising attempts and boost your website guests’ statistics.
Avoid site bounces by retargeting a visitor using additional information about various features of your offerings. This ensures a higher conversion and a lower cost per conversion. Make sure creative has a definite direction on what resonates with the target audience based on demographics and viewership. Furthermore, make sure you have a way to test the effectiveness of creativity.
Prioritise Plans for Video Advertising
Make your advertising strategy video-forward. Videos are more engaging than any other advertising and can drive a massive increase in E-commerce sales for you. Focus on video content that tells your story sets you apart from your competition and drives your audience to take action.
Research shows that video is changing the way people shop and make purchasing decisions, 85% of millennials say they’ve made a purchase after viewing a marketing video. End with a CTA – you can make a landing page for them to click through, which will elaborate on the ad’s message, show off your products, or allow customers to redeem a promo code.
Deploy Programmatic Advertising
Programmatic enables to segment, divide and target the user base in infinite ways, revealing the right products and explaining how each product satisfies a specific need in a highly targeted style. The most advanced aspect of Programmatic Advertising is contextual campaigns, wherein marketers can control which consumers see which ads and when they will click through and engage with the brand or buy the product.
An E-commerce business can profit from sourcing programmatic advertising to refine targeting and deliver an all-embracing customer experience. Pixels can be used to determine whether users are at the consideration stage or getting closer to purchasing, then serve up targeted messaging that supplies them the final push for engagement.
Practice Moment Marketing
Adverts can be relevant to viewers when aligned with current events. Moment Marketing is the capability to take a record of ongoing events and devising marketing collaterals throughout such events. Paid boost posts on social media guarantees that your marketing message reaches consumers in their most receptive moments and when they’re willing to listen or interact.
The higher a link is in the HTML content of a page, the more value that link will provide. Thus, paid content with backlink purchases must be diligently placed. Impact buys through various Publications/ OTT bring in a mixture of the upper funnel of marketing where brand metrics (reach, frequency, etc.) become important, and the lower funnel, which is more focused on engagements.
Optimise Revenue-driven KPIs
KPIs drive superior performance, which will further correlate to more profits, fewer customer complaints, faster user response, and any other strategic initiative. Whether the KPIs consist of your customer turnover rate or your sales percentage from new buyers, targeting and tracking them is imperative to benchmark campaigns’ success.
When it comes to Performance Marketing, try diverse techniques and strategise to optimise conversions and click-through rates, AOVs and traffic by doing A/B testing for a more precise answer to what’s working and what’s not. Ensure keeping a leading KPI that predicts future performance. For example, website traffic. More web traffic can mean more conversions, which in turn means more leads and more revenue.
What constitutes a good consequence depends on the unique marketer. Nonetheless, a performance model is the most reliable way to ensure that everyone’s influences are aligned— and performance never goes out of style.
Savvy E-commerce marketers know that they have to constantly adapt and modify their strategies, stimulating to wherever they can find a competitive edge or advantage. As we gain access to more user information and more efficient marketing analytics tools, the world of performance marketing will only become more sophisticated.
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