Is your business in a position where online sales are stagnating, or even worse, declining? Are traditional marketing strategies just not helping you reach that next level? It might be time to explore the world of performance marketing and bring your business to the next level. Performance marketing provides small and medium sized businesses with extensive opportunities to create more exposure for their brands and create multiple revenue streams.
Investing in other marketing strategies, traditional or online, can make it difficult to predict how many costs will be involved to generate sales. For example, pay-per-click advertising can be difficult to master and you will never have a consistent monthly cost-per-acquisition due to the competitive nature of bidding for keywords. However, with most performance marketing programs, you only pay commissions to publishers when an acquisition (sale or lead) is generated. Controlling your cost-per-acquisition makes it easier to find the perfect selling price for your product.
A huge advantage of performance marketing programs is that once publishers bring you new customers, you will then have a database of new users to further drop market and up-sell products. By working with reliable publishers who can attract a core demographic similar to your target audience, you can then depend on those new customers to influence their respective networks and create a buzz about your product.
Increased Brand Exposure
There is absolutely no limit on how many publishers can promote your product or how many display/banners ads for your brand show up around the web. Leveraging this channel can increase the amount of targeted traffic to your site and increase sales from new geographic markets in which you have not previously invested. However, you need to make sure you have a product that is “hot” and offer a commission that will get publishers to bite.
If you’re serious about making an impact online and diversifying your revenue streams, then performance marketing is the best strategy to elevate your business to the next level. With the right network and publishers, you can leverage the benefits mentioned above and start making enough money to retire in a couple of years and spend your glory days relaxing in the Caribbean.
Image Credit: Know Your Meme.