Performance Marketing Today

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The coronavirus has created the biggest global crisis in generations, sending shock waves through health systems, economies, and societies around the world. It’s certainly true that the coming months – or however long this situation lasts – will be a challenging time for any company that isn’t ready to think about how it will replace the opportunities that have been lost by revamping its online presence and digital approach. Nobody really has any idea how long this pandemic will last and whether this will lead to longer-term change.

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But one thing is sure that in the coming months, businesses are going to become more reliant than ever on their digital strategies. In the last two years, the pandemic has brought about years of change in the way brands do business. During the pandemic, consumers have moved dramatically toward online channels, and companies and industries have responded in turn. This has pushed the online ecosystem over the technology tipping point and transformed their digital approach forever. More than ever, it is high time for brands to invest in Performance Marketing.

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In today's virtual world, whether you're marketing a futuristic idea, pathbreaking product, or impeccable service, how consumers view the brand can make or break the deal. Marketers have been reducing their budgets for traditional advertising, while Advertising Spend on digital marketing is on all time rise. Shrinking returns on commercial public advertising and declining offline stores have become the new norm of this new world order making the internet to become the new and hottest advertisement and marketing hub.

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The new "MarketPlace"

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But unlike other marketplaces, this new age marketplace is the most cluttered one and marketers need a competitive edge for reaching out to their target audience in the DC (during covid) and AC (after covid) era. Amid the pandemic, the start-ups have begun to realize the power of Performance Marketing, and the value of connecting with their consumers with the Right Communication at the Right Time and at the Right Platforms which drives high ROI. The success of the numerous marketing efforts in this new world depends on Data Driven Performance Marketing and Analytics.

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Data is the Power

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Data is the future and in digital marketing, it has brought in much-needed precision to be present at the right place at the right time for the right Customer. Data is empowering and enabling the marketers of the digital world to put their best foot forward to shine and prosper by analysing their customer behaviour and devising hard-hitting digital strategies.

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Performance marketing empowers the advertiser to determine the desired action, pay when that action has been executed– whether it’s a lead, sale, booking, or download. In simple terms, performance marketing refers to online marketing and advertising programs where advertisers pay only when a specific action occurs. The pandemic has given rise to a new league of start-ups and SMEs with a continued interest in Performance Marketing as new customer acquisition, customer reach, engagement, and conversion strategy.

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Each performance marketing channel has a specific audience and offers different types of advertising platforms to reach them.

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Facebook's Ecosystem includes Facebook, Instagram, and Millions of Web & App Ad Space Inventory Networks. The biggest ever search is happening on Google. Over 90% of products or services are searched on Google which is the largest Search Engine in the world registering 2 billion searches every minute. As an advertiser and business owner, it becomes crucial for brands to cautiously leverage the true potential of these gigantic growth and promotion platforms.

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