In this post Performance Horizon Group’s (PHG’s) North American vice president of sales, Jim Robinson, highlights the latest market trends and how marketers are improving their performance marketing programs with a laser focus on ROI and by leveraging data and technology to understand what elements are driving incremental sales and customer value.
Performance Marketing – What are some of the biggest challenges?
When it comes to performance marketing, today’s marketers are increasingly under pressure to find the best way to reach and convert new customers. The proliferation of touch points and channels to engage consumers has evolved to such an extent that marketers need to identify and capitalize on the right mix of digital media channels and marketing interactions that will bring awareness and drive demand for their products. At the same time, they are tasked with meeting the expectations of the always-connected consumer and consistently driving the right business outcomes.
Improving ROI is a top priority for marketers. What options are for them to increase performance?
One of the biggest opportunities for marketers is to harness new technologies to address these marketing challenges. As marketers look to match business outcomes to the bottom line, they are more focused on measuring ROI and leveraging technology to make sure they are targeting the right customers. Capturing incremental sales conversions and customer value are critical steps for optimizing digital marketing spend. It’s these actionable insights that provide the strategic direction for managing marketing initiatives and costs.
How is data allowing marketers to extract value from their performance marketing programs?
The era of data in silos is over. As managing, measuring and reporting on campaigns has become more complex, marketers are increasingly demanding transparency so they can understand all digital marketing channel activity back to customers acquired and products sold. Data from value attribution to commissions can come from several different environments so the challenge is to create consistent measurement across a multitude of channels and geographies. Real-time data across performance channels through a single dashboard helps marketers make better-informed business decisions.
What are some options for marketers that want to take their campaigns global?
It’s essential for marketers to develop a globally minded customer centric strategy and approach when considering new markets. You’ll want to work with the best platforms, networks and agencies for your business in each market. This will help you to identify and manage your goals and strategy in a given region and fine-tune your messaging so it is more effective with each culture. You’ll also want a technology partner that can help you to understand holistically how your campaigns are performing across markets and regions.
What role will agencies have as the digital market evolves?
Agencies will continue to play a critical role as the valued partner for brands across all digital market channels. The agencies that will thrive will be those that deliver more value and increase efficiencies for their clients. By partnering with a technology provider, they can help their clients better understand which marketing channels are performing along with consumer purchasing habits to drive more conversions and sales. AT PHG, we work with many agencies across our core markets (US, UK, AU, JP) to help our partners drive the best value for their clients.