Performance marketing needs better marketers

The concept of lead generation, google ads or social advertising is something that is more than likely part of your current, previous or future digital marketing strategy. Often known as performance marketing, It's a highly effective tactic for companies when executed correctly to drive business growth and has a place in the majority of businesses' marketing mix.?

However we often see a lot of performance marketing strategies that lack the fundamentals of marketing and fail to consider customer buying cycles, effective and creative communication, measurement and attribution. This results in the medium not making sense and eventually being canceled, companies inadvertently limiting their upside or misrepresenting results.?

From our experience the below points are some of the most common mistakes we see being made:

Not pursuing awareness - 95% of your buyers aren't in a position to buy. Successful performance marketers accept this and rather work to consistently build awareness to increase your conversion rates when potential customers move into a buying phase. This makes the channel more profitable over the long term as conversion rates increase alongside brand awareness growth.?

Demand generation does not exist - You can't drum up new demand regardless of what anyone tells you. Rather focus on positioning with your audience and an exceptional digital customer experience to elevate yourself above your competitors.?

The value of good communication - Invest in quality communication and creative campaigns. This is one of the largest overlooked aspects of performance marketing and can be a massive opportunity to companies that invest in strong collateral and messaging. It really helps businesses stand out from the noise.

Capturing business that was going to transact anyway - Many performance marketers simply don't generate new business opportunities at all. They only end up intercepting traffic that was going to convert anyway and erode those margins in the process.?

The curse of ROI - Many companies are too focused on ROI and end up sabotaging their revenue potential by being too shortsighted. While we understand that marketing needs to make business sense, measuring performance marketing over a 7 or 30 day window isn't an accurate attribution representation. Customer buying cycles are complex and businesses need to zoom out and see the whole picture. A balance between long term awareness investment and short term ROI measurement will give companies the best view of their digital marketing efforts.?

The more performance marketers can learn from traditional marketing strategies the better their results will be. By leveraging traditional marketing fundamentals and using digital marketing channels, performance markers can unlock significant value for their businesses.

Hello Infantry is a Full-Service Digital Agency Seamlessly Integrating Design, Development, Marketing and Data. www.helloinfantry.com