5 Performance Marketing Tips to Improve your Results

The first and foremost objective of marketing is to obtain results. Whether it be sales or new customer acquisitions, there needs to be a return on investment. As a result-driven strategy within digital marketing, Performance Marketing can deliver unique insights when it comes to providing value for businesses. These insights can hopefully help you in improving the results of your marketing efforts.

1. Measure what Matters

Don’t waste your time looking at meaningless metrics. These include bounce rate, pageviews and impressions among others. Yes, they may have their uses to diagnose certain problems within a website. But it's redundant to focus on these menial numbers. 

Instead focus on metrics that actively affect your business performance. Lifetime value, customer acquisition costs and gross margin are what you should be looking at. What can you do to improve these numbers? This should be your primary focus as a marketer.

2. Always be Testing

Get used to experimenting and creating hypotheses. Predict the result ahead of time. Did it happen? If so, why? It is important to understand what is actually affecting the metrics that matter. It may have been the type of content created, or the keywords targeted. 

This will differ from businesses to business, and industry to industry. Make sure you are always testing to know what works, and what doesn’t.

3. Testing Volume

You will have to test more than you expect. Successful marketing is all about finding the most efficient way to improve business performance. There is no secret method to do this. You have to continue building your knowledge of what’s working. 

Eventually, with enough testing, you will have a sound understanding of the best practices to get the best results. We call this creative velocity, utilising volume to save time and money.

4. Mistakes are ok

Mistakes will inevitably happen. It could be a simple spelling error, or even posting the wrong advertisement. We’ve all been there. But what's important is to learn from the experience. 

Here’s an example of a mistake turning into an opportunity. A product that only women can use was accidentally targeted towards men. To our surprise, the advertisement did great, with a 60% lower CAC compared to the “correctly” targeted ads. We found out that men who viewed the advertisement loved purchasing it for a woman in their life. It wasn’t a mistake, it was a happy accident.

5. Measure channel specific CAC

Channel specific Customer Acquisition Costs can be an important metric to show how different channels are performing. However, it doesn’t tell the whole story. It is important to compare channel specific customer acquisition costs to the overall performance.

From tracking issues, to discrepancies in the measurement, it is possible that the overall performance looks great, but the CAC continues to increase, or vice versa. Make sure you are fully aware of how your business is performing without being mislead by isolated data.

Conclusion

Want more Performance Marketing help to get the results you want? Launcher Lab is the Performance Marketing Agency which specialises in scaling up businesses with our create-test-iterate approach. Want to get results that matter to your business? Learn more