Digital marketing is one of the professions that adapts to the times. Because, in this digital era, marketing media is developing very rapidly. One of the Digital Marketing positions that is increasingly sought after is Performance Marketing Specialist.
The existence of a Performance Marketing Specialist can see and collect advertising campaign data in real-time. They can monitor the level of success and performance of the campaign at that time. The evaluation results can be used for optimization as well as ensuring that the next marketing plan can perform better.
If you are interested in this profession, let’s see a complete explanation of Performance Marketing Specialist to the recommendations for Performance Marketing bootcamps below.
Performance Marketing Concept
Performance marketing is a term given to online marketing campaigns. Especially where advertisers pay advertising platforms to get certain results. So, you are only asked to pay according to its performance.
Usually the target is the number of clicks and views, the number of installations, or the number of sales conversions.
Unlike traditional and organic marketing, performance marketing is specifically used to encourage action, track user activity, and measure the level of success of the action.
This marketing method really gives advertisers flexibility. You can determine your own target audience, set how much you want to spend, and evaluate how to measure success (ROI).
Performance Marketing Strategy
In Performance Marketing, as an advertiser you will only pay based on the results of the marketing campaign you run in a particular strategy, such as:
Simply put, cost per mile (CPM) or cost per thousand impressions is the cost that marketers or advertisers must pay for every 1000 impressions buy telemarketing data or digital ad impressions on a website. CPM is usually chosen for marketing campaigns that focus on increasing brand awareness. Thus, CPM does not measure the actions taken by end users as potential business consumers because it only determines the price to display the ad campaign.
2. Cost Per Click (CPC)
Cost per click or CPC is a better engagement metric than CPM because CPC shows the price that marketers or advertisers pay for each time a visitor clicks on an ad. Thus, businesses can clearly measure the level of audience engagement in accessing ads (customer engagement).
Cost Per Thousand Impression (CPM)
Not much different from the concept of pay per click (PPC), a higher CPC means that the conversion value is also high. For example, a luxury car manufacturing brand sets a fairly high CPC. This condition makes the company target a much smaller audience than high potential customers who tend to buy expensive cars.
3. Cost Per Action (CPA)
The next marketing performance measurement metric is cost per action (CPA) which represents the marketer’s efforts in measuring campaign performance. Is it in accordance with the specific actions that the business wants the target audience to take or not. For example, audience activity in converting (conversion funnel) and becoming a business sales lead. Then, choosing to subscribe to an email newsletter, registering or subscribing to a website, making purchases, and other actions.
Lifetime Value (LTV)
In this marketing strategy, the actions taken by potential customers are considered real and measurable results that are important for the development of business marketing (marketing growth). As well as the best business metric in acquiring customers on a profitable basis.
As the term implies, the lifetime value metric concentrates on the lifetime value of customers that occurs during the customer journey and the people are looking for the most innovative relationship or communication with the company’s brand (brand communication). LTV refers to the value of a consumer that contributes to the profitability of a business during their time as a customer. In addition, LTV also estimates the amount of spending expected from acquired customers. Based on their ongoing activities using advanced methods, such as predictive analytics.
How to Become a Performance Marketing Specialist
Becoming a good Performance Marketing is au emai list not easy, it takes strategy and also a way to gain client trust. To find out how, here is the review.
Master the basic techniques of digital marketing, strengthen understanding. Of the technical basics related to SEO, SEM, analytics, social media marketing, and social media advertising.
Master various digital marketing tools Performance Marketing strategies are. Carried out in various stages, starting from analysis, planning, execution, experimentation, to evaluation.
Read performance marketing trends, a marketer must continue to follow.
