January 3, 2024
Zaid Dabus
In the world of digital marketing, buzzwords seem to be a dime a dozen. Terms like “growth hacking,” “storyscaping,” and “geofencing,” sound very interesting, but does your marketing strategy really utilize them? When it comes to marketing success, there’s really only one buzzword you need to understand, and that’s the ever encompassing performance marketing.
Now you may already think you know what performance marketing is: you run marketing and advertising campaigns and they get results. Performance marketing, right? Well, that’s not the whole picture, and the great thing about performance marketing campaigns and performance marketing agencies is that you, the business, are in the driver’s seat.
We know your business has KPIs laid out for your marketing strategy. Instead of running an ad campaign and hoping to achieve these results, performance marketing strategies let you set the goal and adjust your advertising budget to accommodate these goals. Let’s dig into what the performance marketing concept is and how it can work for your business.
We’re glad you asked. Performance marketing is a catch-all term that incorporates many different digital marketing and advertising channels towards one goal. It’s the “performance” part that makes all the difference, though. In performance marketing campaigns, you only pay when an action is taken from an ad.
For example, you can choose to pay per leads generated, clicks to a landing page, a sale through your eCommerce store, or any other action you’ve designated for the ad. Performance marketing campaigns depend on paid marketing channels such as:
The various performance marketing platforms available to media buyers have specific audiences and tools to target them. On Facebook, for example, there are a variety of ways to get your ads in front of the audience you choose. While Google Ads allow media buyers to bid on that appear above the organic search listings.
Not all of the performance marketing channels will display your ads or content to their audience base. Here are a few factors that come into play when displaying your ads:
Based on your performance marketing goals, your strategy can take a few different forms. Here are some of the most common performance marketing strategies available:
Each performance marketing platform has its pros and its cons when it comes to your advertising and marketing objectives. Let’s breakdown each one and get the skinny.
Geofencing is a location-based marketing tactic in which a geographic boundary is placed around a set up custom geofences around points of interest, as well as competing locations within any metro in the US (or world). When a mobile device enters this area, the geofence can trigger several different events. These triggers are usually the delivery of some kind of advertising.
At Cape & Bay, we utilize our internal data set of over 150 million verified, US consumer profiles, including purchase and spend behavior, physical address, FICO credit data, and more. As a potential customer crosses into each fence, we profile and cross reference them with our dataset, verifying an average match rate of over 40%.
Once matched and tagged, advertisers can use cell ID and cell tower signatures to follow user activity, verify home address and other information, then upload real audience lists directly into all 9 of the major social platforms via API. Other geofencing essentials are setting up consumer profiles based on behavior with competition and other complimentary businesses.
At Cape & Bay, we are experts at all things performance marketing and advertising. Our crack team of ad-op specialists and SEM experts are well-versed in getting the results your business needs from your advertising campaigns. Collaborate with us and let & take the wheel.