From small to large scale businesses, building a perfect brand image is a dream come true for many. When consumers choose your product they not only purchase your product or services but also the value that your brand adds to their life.
Right campaigns or advertisements are crucial to engage your audience and draw attention to your product. But what if you don't get the desired result after a campaign? Here’s where performance marketing comes into play. Instead of paying bundles for a failed campaign, you just have to pay based on how well the campaign succeeds using performance marketing.
Performance Marketing is a broad phrase that refers to a mixture of paid advertising and brand promotion that is only paid out when the intended action is achieved. It is a sort of digital advertising in which companies only pay promotional service providers when their business goals are fulfilled or particular activities, such as a click, sale, or lead, are done.
Performance marketing is a key in the Mobile advertisement industry as you can easily track the audience as per the target. Through performance marketing advertisers and marketers can get real-time visualizations for reporting app activity and campaign performance and have a more accurate measure of their ROI (Return on Investment).
Furthermore, in online and mobile marketing, return on ad spend (ROAS) is an essential key performance indicator (KPI). It is the amount of revenue generated for every dollar spent on a campaign. Performance marketing embedded in mobile marketing can help you generate real-time reports with installs, retention rate, registration rate, and other key performance indicators.
Different types of promotion for Mobile performance:
Ever encountered pictures displayed on the lower portion of your screen? These types of advertisements use attractive colours and high-quality graphics. It has been proven that customers are more attracted to visually appealing ads. Moreover, the ads are cost-effective.
Video ads have taken the stage for years when it comes to mobile marketing. It is one of the most effective forms of mobile marketing that not only grabs the attention of your target audiences but also gives maximum conversion.
Native ads are almost similar to banners but there is a slight difference between the two. In the case of banners. It’s quite clear to the users that the ad is from other companies and not the original app’s advertisement. However, native Ads are customized such that the ads seem to mix with the environment of the ad and promote it as if they belong to the app only.
The digital marketing world is filled with numerous mobile marketing strategies. From SMS marketing to Social media marketing, there are thousands of ways you can market your product. However, not all strategies are meant for your business. In order to churn out the right strategies that sit well with your products and target audience let's have a look into the strategies first.
1. Social Media
The use of social media is growing day by day. The more the users are attracted to social media, the higher the number of ads flourishing on these platforms. As per a report by Pew Internet, it is observed that around 47% of people use WhatsApp and 62% of people use Facebook. Hence, if you are dreaming to reach your target audience with the least effort and most results, you should definitely give this marketing strategy a try!
2. Location-Based Marketing (GPS):
Location-based marketing makes use of the GPS capability on smartphones to assist marketers to provide promotions and relevant information depending on the location of consumers. Geotargeting and geolocation marketing are other terms for location-based marketing. According to MarTech Series, 83 percent of marketers had better success with location-based marketing.
3. SMS Marketing:
SMS marketing is text-message marketing. This form of marketing has excellent deliverability, clicks, and engagement rates, which makes it one of the reasons why SMS marketing is a successful mobile advertising technique. In other words, we can say that it is a permission-based mobile marketing technique in which you deliver promotions, coupons, notifications, offers, and other information directly to the phones of potential consumers using text messages.
Mobile Marketing Tools
Now that you know how mobile marketing works and some of its strategies, let's look into the tools that have helped several creators and brands to fill up the gap. In this article, we will mention the top tools that are trusted by us and some of the renowned companies as well.
Through innovative, fraud prevention, privacy-preserving, analytics, and engagement solutions, AppsFlyer assists companies in making excellent decisions for their company and their consumers. AppsFlyer supports thousands of creators and more than 8,000 technology partners to engage with their customers better. It is based on the premise that companies may enhance consumer privacy while offering great experiences.
Branch delivers solutions that integrate user measurement across many devices, platforms, and channels, resulting in a consistent customer experience regardless of where the user comes from. The app provides a comprehensive picture and ensures that the users are directed to the right advertisements on the native app or websites. The branch is utilised by big mobile firms such as Target, Starbucks, Airbnb, Slack, and many more.
Several growth driven marketers have put their trust on Adjust to get the best mobile marketing analytics. The tool offers features that are helpful to monitor and improve marketing campaigns while securing the data of users. Adjust's built-in intelligence and automation power thousands of apps, and it's supported by timely worldwide customer service. Adjust was bought by AppLovin (Nasdaq: APP) in 2021, a major marketing platform that offers developers a robust, integrated set of options for growing their mobile apps.
Singular software is a platform for obtaining a comprehensive picture of marketing effectiveness and ROI. Manage cross-platform analytics with precise ad spend data in one location. Marketing ETL and Mobile Attribution are provided by the programme to track and measure the journey to conversion across channels. To assess ad income, use Prevent Fraud and Ad Monetization.
Kochava software is a Unified Audience Platform that uses data-driven marketing across linked devices to get insights. With dynamic audience activation, predictive churn modelling, and push alerts, you can monitor business operations with user retention and LTV. Deep linking and the Mobile App Attribution tool, which is used to assess campaign effectiveness, can help you engage your consumers.
1. What is the difference between digital marketing and performance marketing?
Ans. Well, performance marketing is a type of digital marketing. In the case of digital marketing, brands use online channels for marketing. Performance marketing does the same, however, the payment model is different. Brands have to pay for their campaigns only after the desired outcome.
2. Is affiliate marketing the same as performance marketing?
Ans. Mostly, you might think performance marketing and affiliate marketing are the same things. However, there is a little different approach for both of them. In the case of affiliate marketing, you aren’t sure if the consumer will buy the product. But, with an evolved form of affiliate marketing, performance marketing uses cutting edge technologies to ensure better outcomes.
3. Should I hire an agency for performance marketing?
Ans. You may, of course, do it yourself and conduct your own marketing research and plan for as long as you wish. However, it can be time-consuming and requires a lot of focus. With an agency by your side, you can have a better outcome with less effort.
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