PERFORMANCE MARKETING

Performance marketing thrives because it’s all about achieving demonstrable results. With performance marketing, you, as the marketer, get to define the campaign’s specific goal – a sale, a lead capture, even foot traffic– and those metrics become the primary way of measuring success. In some cases, you may only pay when your ideal goal is acheived. Think about traditional advertising: you pay upfront for a billboard, hoping it drives sales. With performance marketing, you for actual results.

This results-oriented approach offers a number of different benefits. First, it’s incredibly trackable. You can see with real precision how each element of your campaign contributes to revenue. Did those social media influencer partnerships outperform the search engine ads? The data tells all. Second, it’s highly efficient. By constantly analyzing results, you can optimize campaigns in real-time, eliminating wasted spend on ineffective tactics. And, with the use of A.I. technology, this optimization process can be automated, performed in real time.

Think of it as a laser-focused approach to marketing, maximizing ROI in a way that traditional marketing methods often struggle to achieve. In fact, studies show that performance marketing campaigns deliver an average ROI of 1:15, compared to just 1:2 for traditional marketing efforts.

Performance marketing is a broad category, encompassing any marketing strategy where you only pay for specific actions, rather than traditional impressions or ad placements. Here are some common examples you might encounter:

• Pay-Per-Click (PPC): This is a classic example, where you pay for each click that directs users to your website or landing page. Platforms like Google Ads and social media advertising offer various targeting options to reach your desired audience.

• Cost-Per-Acquisition (CPA): Here, you pay only when a specific action occurs, like a purchase, lead generation, or app download. Often, this requires CRM integration for tracking, with cost related to a % of the actual sale amount, profit, or a specific cost-per-lead. This option aligns your interests with the agency, who promotes your solutions and gets paid based on conversions.

• Affiliate Marketing: You partner with other websites, bloggers, or influencers who promote your product or service to their audience. They earn a commission for each sale or lead generated through their unique affiliate link.

The best performance marketing perfectly aligns with your overall marketing strategy, utilizing the data and tools that will ensure short-term sales oppurtunities and long-term revenue growth.

Building your growth strategy around local search has been essential for many years. And yet, even as a 2023 Moz study reports that 97% of consumers rely on their mobile devices to discover local services, local businesses continue to lag. More than 40% of websites are still not responsive to mobile devices, page speed scores are way too long, and landing page content fails to focus on the consumer preference to find local solutions.

For any performance marketing strategy to be truly effective, it’s critical to enhance the campaign around mobile technology and local search. Build your messaging around the questions local consumers ask, and integrate relevant keywords and precise location details into website landing pages and other online profiles. Effective local search optimization is not only about increasing organic website traffic, it’s foundational to turning standard performance marketing campaigns into true revenue generating growth engines.

In today’s SaaSQL Article we go deep into Performance Marketing tactics for local businesses. We provide a comprehensive overview into the strategies that comprise a strong performance marketing plan, from channels to platforms, and technologies that are providing local businesses with a competitive advantage. You’ll learn about the ways in which A.I. is redefining performance marketing in a way that enables companies with small budgets to control their cost of marketing. Finally, we touch on Cross Channel solutions as a key component of the sales enabled marketing programs that SaaSQL brings to market on a performance basis.

As local businesses increasingly focus on utilizing A.I. in performance marketing strategies, effective lead scoring will become increasingly important, particularly as it relates to the way businesses identify and prioritize potential customers. By analyzing large datasets, including historical sales data and customer interactions, A.I., driven by customized machine learning algorithms, can accurately score leads based on their likelihood to convert. Most importantly, when combined with access to various data sources, lookalike audiences can be created in real-time, systematically refining each marketing campaign to its most efficient and impactful version.

As the foundation of the SaaSQL performance marketing method,  this targeted approach allows sales teams to focus their efforts on the most promising leads, improving efficiency and success rates. A.I.’s ability to learn and adapt over time ensures that these scoring models become more accurate and reliable, aligning sales strategies with evolving market trends and customer behaviors.

The personalization of customer journeys using AI is has become a significant leap forward in performance marketing, and the means by which it will continue to impact the local business landscape cannot be understated. In general terms, using A.I. in marketing (for now) largely involves leveraging AI algorithms to analyze customer data, enabling businesses to tailor experiences uniquely for each individual. From personalized product recommendations and content adjustments on websites to customized email campaigns.

In short, A.I. ensures that each interaction is relevant and engaging to the specific person your brand is engaging with. But personalization isn’t just tactical – it not only enhances user experience but also drives higher conversion rates and fosters loyalty. As AI technology evolves, its ability to predict customer preferences and behavior with greater accuracy will only increase the power it has to systemize engagement. For local businesses, it also represents a huge advantage for those who embrace the tech now. Click the link to learn more about smart ways to engage customers with AI.

Big Data has become an essential tool for refining sales strategies. As an A.I. marketing agency, we’ve seen how the ability to systematically analyze huge amounts of data can deliver real-time insights into consumer behavior. From a sales perspective, Big Data enables businesses to uncover the most optimal sales channels or tailor product offerings to the right consumers. In the best cases, it can even help predict future market developments.

From a marketing point of view, this analytics-driven approach helps to understand customer preferences at an incredibly granular level. This paves the way for more effective targeting, segmentation, and personalization in the messaging. It provides us with the ability to optimize new promotions and pricing strategies by allowing us to measure what works through small sample groups. Ultimately, reducing waste and driving a positive ROI. Big Data & A.I. powerfully links sales & marketing.

Integrating CRM Data into Performance Marketing Platforms

Integrating CRM data into sales and performance marketing strategies is a critical element of alignment between two business functions that are often at odds.  Effective CRM integration helps businesses recognize and anticipate customer needs in real time, which leads to more targeted marketing campaigns and next-level sales processes.

CRM marketing integration offers a comprehensive view of customer interactions. It enhances the ability to personalize communications and provide unique offers. But most importantly, it streamlines the way inbound leads are managed, ensuring a smooth transition from marketing-qualified leads to sales-qualified leads.

Ultimately, integrating CRM data not only improves collaboration between sales and marketing teams, it also boosts overall business performance. When combined with powerful A.I. marketing technology, it is foundational to the Sales Enabled Marketing method.

In the constantly evolving performance marketing landscape, AI’s role within predictive sales analytics has the potential to be a cornerstone for local businesses. As a foundational element of the Sales Enabled Performance Marketing method, SaaSQL technology sifts through extensive datasets, uncovering customer behavior patterns in a way that enables us to forecast sales with precision. Machine learning (commonly referred to as AI) algorithms, are distinct in their ability to learn and adapt, in that they continuously refine their predictive accuracy. This benefits businesses in fast-changing markets.

But most importantly, AI enables personalized marketing strategies that align closely with individual customer preferences in a way that enhances engagement and conversion. As predictive analytics technology has advanced, it has become promises to equip even small businesses with big data insights that provide an edge. It’s really a pivotal shift in how local businesses approach local & hyperlocal marketing to drive local business leads.

Data Enrichment and Traffic De-Anonymization For Increased Conversions

Through data enrichment SaaSQL enhances existing customer-provided data with additional information from various sources. This can include demographics, purchase history, social media activity, employment information and website behavior. By filling in the gaps, marketers gain a deeper understanding of the individuals who engage with their marketing, while arming the sales team with valuable insights to assist in making informed outreach. 

Similarly, the process of website traffic de-anonymization links anonymous data to known individuals. There are several tactics that can be employed, most commonly done through cookies, device IDs, and email addresses. Once anonymous traffic has been identified, more relevant campaigns can be deployed, providing individuals with tailored messages and offers, leading to increased engagement and conversions. 

Together, data enrichment and de-anonymization act as a cornerstone to any performance marketing effort. 

Artificial intelligence (AI) is rapidly transforming the performace marketing landscape, empowering businesses to automate repetitive tasks, gain deeper customer insights, and deliver personalized experiences with unprecedented efficiency and accuracy. According to a recent study by Gartner, 87% of marketing leaders believe that AI will have a significant impact on their marketing strategies in the next two years.

Actionable Insights:

• Embrace AI-driven marketing automation platforms to streamline email marketing, social media management, and lead nurturing campaigns, freeing up valuable time for more strategic marketing initiatives.
• Implement AI-powered customer segmentation tools to identify and target ideal customer profiles and audience segments with personalized messaging and offers, ensuring that your marketing efforts resonate with the right audience.
• Employ AI-based analytics solutions, like the Sales Enabled Marketing method from SaaSQL to gain insights into customer behavior, preferences, and purchase patterns, allowing you to make data-driven decisions that optimize your marketing strategies.

How AI Chatbots Are Improving Performance Marketing

When it comes to online interactions, customer expectations are higher than ever. One way businesses are meeting these expectations is through the implementation of AI chatbots. These intelligent virtual assistants offer instant responses to customer questions, providing a seamless and efficient user experience.

Research has shown that businesses utilizing chatbots have seen an average increase of 20% to 40% in website leads. By integrating chatbots into your website and social media platforms, you can engage potential customers 24/7, capture leads effectively, and nurture them through the sales funnel. As one of the cornerstone elements of a modern performace marketing strategy, chatbots are capable of gathering essential customer data, enabling businesses to personalize their marketing strategies and cater to the unique needs of their audience.