In a world full of Buzzfeed regurgitation and TikTok popularity, marketing professionals are tasked with innovating and reimagining traditional marketing to fit the ever-changing demands of consumers. One of the most exciting times in marketing is the intersection of digital marketing and performance marketing—allowing brands to track the effectiveness of their efforts in real-time, through sophisticated analytics.
Dallas (and Texas in general) is a hub for digital marketing and digital marketing management—offering organizations of all sizes the tools and expertise to best utilize this exciting space. If you’re curious about pursuing performance marketing in your organization, read on!
Why Performance Marketing?
Performance marketing is a mix between marketing and sales that takes the performance of a product/service (measured in terms of engagement, action, and value) and applies it to marketing spending. This approach is all about measuring the results of your marketing and optimizing your efforts to produce the best possible outcomes. Marketing has always been about connecting with consumers through advertising and promotions, but with the advent of the Internet of Things the way consumers interact with brands has changed, and so has marketing.
Marketing analytics used to be restricted to the domain of large multinationals with the financial might to spare. But today, every marketer, regardless of size, should have access to sophisticated analytics to optimize marketing activity.
To best prepare for this exciting space, it’s important to understand the difference between online performance marketing and traditional performance marketing.
What is Traditional Performance Marketing?
Traditional performance marketing is marketing activity undertaken through offline channels (such as billboards, radio ads, and magazine spreads) to drive sales of a product or service. The target audience is typically the same as your typical consumer—with the exception of B2B (Business to Business) buyers who may not be as interested in purchasing a product or service as they are in furthering their interests in a specific field.
While many companies still rely on traditional marketing channels to generate sales, the digital community has made it clear that they’re interested in hearing from companies who want to innovate and evolve with the times. Companies who want to survive and thrive in today’s economy must adapt to changing consumer demands and the new world of digital marketing.
What is Online Performance Marketing?
In its most basic form, online performance marketing is online marketing activity undertaken through digital channels (such as websites, email marketing, and social media) to drive sales of a product or service. The target audience is typically made up of consumers who have an interest in your product or service and who are more digitally literate than your typical purchaser.
As with any new marketing or analytic paradigm, the digital marketing world is abuzz with the potential to evolve and improve upon online performance marketing.
The big difference between online performance marketing and traditional performance marketing is that the latter traditionally only considers the results of a campaign (i.e., sales). However, with online performance marketing, you’re measuring the results of your marketing in real-time (i.e., customer engagement, action, and value), which provides you with a better idea of how well your marketing efforts are performing—and if they’re performing well or poorly—to guide your next step.
Performance Marketing vs. Marketing Automation
Marketing professionals have always been responsible for the overall strategy and implementation of marketing programs—prioritizing what content to distribute, designing marketing materials, and pitching in with sales to drive business.
However, with the rise of the digital marketplace and the proliferation of platforms and channels, marketing has become a bit easier. Many marketing programs and tasks can be managed from a central platform, allowing for more streamlined operations and a whole lot more analytics.
Performance marketing, as defined by Marketo, is all about putting performance (i.e., the results of your marketing) first. Marketing automation, on the other hand, can help you prioritize customer acquisition, retain customers, and grow your business through email marketing, SEO, and social media.
Getting Started With Performance Marketing In Dallas
If you’re curious about pursuing performance marketing in your organization, Dallas is full of experts who can help you get started. From startups to large corporations, marketing managers to marketing data scientists, the city is home to a thriving community of digital marketers.
Whether you’re a brand-new business or you’re looking to grow your existing operations, Dallas provides all the necessary tools and resources you need to thrive in the digital marketing economy.
One of the best places to get started is with HubSpot. With HubSpot, you can set up automated email campaigns (including mass mailing lists), track web traffic, and follow the performance of each individual campaign—all from one place. This centralization of information and the ability to visualize performance from every angle makes analyzing and improving your marketing much easier.
Since every business is different, we recommend studying this guide to learn about the performance marketing options available to you.