This world of digital is moving pretty fast these days, and businesses need to constantly change and adapt marketing strategies if they want to be above the rest. But one such effective method that ensures performance marketing in the result of their campaign is performance marketing.
Unlike typical advertising, performance marketing will only pay for what really matters, that is actual desired action like clicks, conversions and sales, thus a cost-effective solution for the business.
For the companies in performance marketing in Mumbai, it is important to understand the myriad of available channels for several reasons-to leverage greater ROI and growth.
Let’s look at the different types of performance marketing channels and how they can help your business.
- Affiliate Marketing
This is one of the most popular channels developed through performance marketing. Here, the company allows partners in the form of affiliates to drive their products or services, resulting in a collaboration-based model.
Affiliates are either persons or companies who make a commission based on sales, clicks, or leads directed toward the business.
How it works: All an affiliate needs to do is to write a review on any blog or other social media, create websites around them, and market the products. This way, if such a user goes ahead to click the link and eventually makes a purchase for example, he or she earns a commission on behalf of the seller.
Advantages: It is a risk-free move for firms because they incur expenses only when certain events take place. To reach hundreds of thousands of spectators for Mumbai performance marketing, affiliate marketing allows a firm to reach millions of affiliates from around the world.
Search Engine Marketing (SEM)
Search engine marketing, otherwise known as paid search, is an advertisement on the search engines: Google or Bing. Knowing the fact that advertisers bid for a specific keyword pertaining to their products or services, businessmen can have their advertisements displayed every time a search user uses the keywords to find the exact term.
How it works: SEM uses the PPC model. In SEM, one is charged only by one click. In SEM, the ads appear on top of the search results of the engine. This makes SEM ads highly visible for the prospect clients who are searching around the website on similar products or services.
Advantages: SEM enables an immediate view and allows businesses to reach the users with higher possible purchase potential. For a city like Mumbai wherein such performance marketing is conducted, this advantage of getting a huge number of local search traffic and converting them into paying customers is a blessing.
Social Media Advertising
The media include social media, among them being Facebook, Instagram, LinkedIn, and Twitter. They are significant media to be used while advertising a business. The above advantages create the potential of exposing the business to desired audiences pegged on demographics, interests, and behaviors and hence becoming an ideal performance marketing channel.
How it works: Social media ads mostly work on the PPC model-they charge businesses for the clicks, impressions, or any other action. The platforms give extensive targeting options so that a business can reach users who would be appropriate and likely interested in a given product or service.
Advantages: Social media advertising targets people accurately, and there are multiple types of ads available, such as carousel ads, video ads, and stories. For an organization that is engaged in performance marketing in Mumbai, it will be an excellent way to target people within the region, but it will also reach a larger audience as users engage with such networks every day.
Display Advertising
This is internet advertising where banners, among other visually displayed advertisements, are placed on websites, applications, and social media. Some can be simple static images, interactive graphics, and even videos. Again, here is why display is part of the performance marketing mix: businesses can count clicks and conversions while only paying for actions they want.
How does it work: The Google Display Network posts ads on websites. Businesses can reach users by interest, demographic, and behavior on the internet. The advertiser only pays for those ads after somebody has clicked the ads or performed certain other actions.
Advantages: they look great and can well assist in brand awareness. That type of ad is very effective for retargeting and reminds the users of products or services that users have looked at before, but this kind of ad in Mumbai performance marketing helps businesses reach their local audience by appearing on websites often visited by people from that region.
Native Advertising
Native ads are non-intrusive, and they’re native to the site or medium on which they appear. In most cases, native ads have the same form and format as articles, since it is intended not to intrude on the users’ experience but instead is impactful about it.
How does it work: Native ads are placed inside a content feed, whether it is in the form of blog posts or news articles. In this way, they communicate a sense of organic feel within the feed, increasing their credibility and appeal to the user and therefore click-through rates.
Advantages: There is more exposure to native ads as they do not look as invasive as banners and look more organic. For performance marketing in Mumbai, natives will be able to help a lot in terms of driving traffic and conversions if well-placed on news websites or content platforms relevant to the area.
Email Marketing
Email marketing is the biggest performance marketing channel. It is the act of sending an email to prospects and existing customers about the relevance of their message to push out products, services, or offers.
How does it work:Organizations craft unique messages on emails that they will use in order to provoke the receiver to take some action, such as opening a page when a hyperlink is clicked, buying something, or signing up for any other service. Performance is typically measured in terms of open, click-through, and conversion rates.
Advantages: Email marketing is highly personalized because businesses can segment their audiences and tailor messages to specific user groups. It could be the best way for a Mumbai-based performance marketing firm to maintain customer relationships and increase repeat business.
Influencer Marketing
Although influencer marketing is actually reaching out to a social media influencer that promotes the existence of your product or service to their followers, the influencers help heighten brand recognition and sales through building credibility for themselves in front of their audience and then utilizing that same credibility for the promotion of your brand’s product or service.
How it works: Under an influencer’s social media page, content is created for your product or service. These are often done with direct links to purchase or learn more. Businesses hire these influencers often based on the performance delivered whether through sales leads.
Advantages: Influencer marketing opens up access to niche audiences organically, without a contextual approach. For performance marketing in Mumbai, the very presence in these local influencer lists may be considered almost like a back door to attain higher levels of trust and conversion and conversions in these regional markets.
