©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
Before the Internet, advertisers used traditional media – television, print, radio, etc. – to help engage their target audience. Results were hard to measure and marketing budgets were the economic touchstone. With the advent of the Internet, marketers have gotten better, and faster, at measuring their results. But in 2011 and beyond, simply measuring results is not enough. Today’s best online marketers are performance marketers. They are not just measuring results, but actively improving them.
What if marketers could accurately predict the return on their marketing investment before running a campaign? What if they could pay media outlets only when the target consumer took a desired action like requesting more information on their product? And what if while the campaign was running, the marketer could change campaign elements – the mix and price for the media, the creative used, the sales process – to optimize sales related to the advertising program? If marketers could do all this, they would be running a true performance marketing campaign. More importantly, they would be generating revenue increases that would essentially make budgets obsolete. This is the essence of online performance marketing. Organizations that want to supercharge their customer acquisition strategies, while building profits, will increasingly turn to performance marketing to power their growth.