What Is Performance Marketing?
Performance marketing is what it sounds — marketing based on performance. It is like regular online marketing and advertising, but the advertiser only pays when a certain action occurs, such as a click, a sale, or even a lead to a potential sale. Consumers want to have the same experience in healthcare that they have from other businesses. It is a combination of paid advertising and brand marketing but only paid out once the completed desired action takes place. Thanks to performance marketing, companies can now measure their brand reach and figure out which customer to target. With the advancements in technology, marketing your brand has become incredibly effective and efficient. Brands can now optimize their marketing campaigns in a better way and maximize the derived benefit.
One of the key benefits of performance marketing is that such marketing campaigns can be measured in more detail. Even though performance marketing involves some risks, they are shared between the brand itself and the marketing campaign publisher, respectively. For instance, in a scenario of cost per impression, the brand would take all the risk. In the case of cost per download, application, or lead, the risk is shared between both the publisher and the brand. Similarly, in the case of cost per acquisition, the publisher is the one highly at risk. However, this risk also works as an incentive so that the publisher does the job right and targets the right audience.
Another key benefit of performance marketing is that it expands and diversifies the reach of your audience. With a strong army of publishers promoting and marketing your brand, you can reach niche markets and different audiences that you may not have been able to reach or even consider before. You’ll find that your revenue increases when your advertising is tailored by publishers to their loyal audience.
In an increasingly brand saturated market, standing out is a challenge, and that’s why brand awareness is so important. There are many ways to increase brand awareness, such as social media campaigns, native advertising, content marketing and more. Some of these may actually fall under the umbrella of performance marketing because they are measurable and advertisers only pay for specific actions.
As a result of the consumerization of healthcare, there will be increased competition within the sector to win people’s attention. This means that medical and healthcare brands will need to find new ways to reach healthcare consumers.
How Does Performance Marketing Work?
Performance marketing consists of four groups: Retailers, Affiliates, Affiliate Networks and Third-Party Tracking Platforms, and Affiliate Managers. All these groups are vitally important for performance marketing to take place, and they work in tandem to drive the desired result. Below is the breakdown of each group:
- Retailers or “Merchants”: Also known as Advertisers, these are the companies that want to sell the goods and services by Affiliate Partners. The affiliate programs that perform best in performance marketing are those who already have an established online brand or presence in the marketing channels, with an already engaged audience and a website that has a proven conversion rate. Performance marketing is very effective for healthcare marketers, especially with a strong brand reputation and an informative website. This is mainly because today’s consumers in today’s world always check out the product recommendations, reviews, and discounts from influencers and other shoppers before making a purchase.
- Affiliates or “Publishers”: These are the marketing partners that come in many forms such as artificial intelligence, influencers, product review websites, blogs, and more. These partnerships have a high value as they go beyond the sale with additional brand exposure and loyalty between the affiliate and the brand. However, as affiliate marketing moves more and more toward an all-encompassing performance marketing model due to the evolution of marketing technologies, there needs to be a personalized strategy and an understanding of how each of these marketing partners works to be successful.
- Affiliate Networks and Third-Party Tracking Platforms: These platforms are where strategic partners issue bonuses, send out newsletters and track returns. Such platforms include Partnerize, AWIN, and PepperJam. Different affiliate platforms have advantages and disadvantages, and it will depend on you to pick the one that suits you best. For both merchants and affiliates, these networks and platforms are a way to track important data points such as leads, clicks, and conversions. Different affiliate networks and tracking platforms have different strengths and weaknesses, cost structures, merchant vertical expertise, etc. Ensure you conduct research or get advice from an expert, such as an affiliate manager with experience or an OPM with knowledge.
- Affiliate Managers or Outsourced Program Management Companies (OPMs): These are the main drivers between the merchant and affiliates. The affiliate managers can be either in-house or outsourced. It is vital to work with an experienced affiliate management company as they can scale the brand’s performance marketing program more efficiently and with a faster/higher ROI. Additionally, it’s usually beneficial to work with experienced agencies that can help you with partner recruitment, growth strategies, long-tail program optimization, content creation, campaign management, and more. Often, internal teams have limited resources, expertise, existing partner relationships, and market reach. By working with an agency, these gaps can be filled and results can be achieved much quicker.
Make a Plan
One methodology marketing agencies use to guide planning is called SMART, which is used to clearly define plan objectives and expectations and keep the focus on achieving clearly defined goals.
- Specific: Instead of saying, “We want more subscribers, say, “We want 100 new subscribers to our health blog in the next 90 days.”
- Measurable: Make sure you can measure progress you make toward your goals. It’s the only way to know if you need to tweak your campaign. Instead of setting a broad goal of increasing appointments, be specific and start with a baseline. Try something like: Increase new patient appointments from 50 per month to 75.
- Attainable: Set realistic, achievable goals. Don’t set yourself up to fail. Ask: Can we accomplish this goal? Is this goal too far-reaching? Some sources also say the “A” stands for assignable. Who will implement the marketing plan?
- Relevant: Is your goal worth the investment of time, energy and resources? Ask: Is this the best time for this campaign and the goals we’ve set? Does this objective coincide with other goals set by the practice or hospital?
- Time-related: Decide when your campaign will start and end. How often will you check progress?
Challenges & Performance Marketing Solutions in the Healthcare Industry
While historical best practices such as word-of-mouth marketing, referrals, and phone book listings are still relevant in their broadest respects, these medical marketing strategies look quite different than what they did in the past as healthcare marketing has gone mainly online. In a changing healthcare environment, it is vital for businesses to stay afloat and understand how performance marketing can play an important role in helping healthcare professionals to create, communicate, and provide value to their target market.
Part of the reason for marketing challenges in healthcare is the unique nature of the industry itself. Marketers must navigate industry-wide regulations and complicated health systems that are often slow to take on new ideas. Fortunately, there are a lot of tools available for dealing with the challenges the healthcare industry faces. Challenges that the healthcare industry is experiencing now and solutions that performance marketing can bring are the following:
Challenge: Personalized Messaging
Any marketer worth their salary knows that consumers appreciate a personalized approach. People want to engage with products and services that address their needs. This gets tricky in healthcare, where privacy laws pose a challenge to capturing, storing, and using patient data. It’s important to make sure you’re marketing to consumers who actually benefit from what you have to offer, but how?
Engaging, personalized marketing is possible in healthcare. As the industry shifts towards a greater focus on helping patients live healthier lives — and not just treating symptoms and illnesses when they arise — there’s an opportunity for marketers to provide more broadly applicable, lifestyle-focused advertising. Personalized communications on topics like healthier eating, preventative screenings, and chronic disease management are becoming increasingly more useful and beneficial for marketers and consumers alike.
Challenge: Insurance-Focused Marketing Structure
You can lead a patient to a product, but you can’t ensure that their insurance will pay for it. Doctors and insurance companies have a lot of control over what sorts of healthcare services and tools patients have access to. As such, it can be a major challenge for healthcare marketers to design campaigns that appeal to both consumers and industry gatekeepers.
Build relationships with providers and payers — not just patients. Pharmaceutical companies have been doing this for years, and it’s a good strategy for others in the industry as well.
You can’t neglect the valuable and necessary relationships between your brand and the systems that connect patients with your product. Reach out, network, and spread the word about who and how your brand can lend patients additional support. Direct mail marketing may be the answer. By using innovative direct mail tools like dimensional mail and personalized gift boxes, healthcare marketers can reel in leads and establish strong connections that would otherwise be ignored, deleted, or forgotten in the digital realm.
Challenge: Building Trust
Healthcare consumers are more savvy than ever, and it’s going to take a bit more to earn their trust. Combined with high costs, confusing policy, strict regulatory requirements, and a demand for personalized service, trust is core to healthy marketing.
Offer transparency wherever possible. In both print and digital ads, be clear about pricing, ease of access, and other important details that competitors may gloss over. Share testimonials to showcase patient satisfaction and successful relationships. Use NPS scoring to see where you stand; your customers’ expectations are high, and if they don’t trust you, an NPS survey will clue you in.
Challenge: Making the Connection
You know the demographic you want to reach with your healthcare marketing campaigns. You may even have the relevant data needed to target them. But how do you find them? Understanding consumer behavior and predicting exactly where your audience goes to learn about brands can be a challenge in the broad audience of the healthcare space.
Here again, metrics reign supreme. The key is knowing what data is relevant and what is just a distraction. When it comes to connecting with your audience, look for data around their behavior. Are they more likely to respond to print ads or digital ads? Are they doing most of their browsing on a desktop or mobile device? Are they responsive to direct mail? What about email newsletters? Or are they more receptive to social media engagement? The more you can define where your audience is looking, the better you can make sure they find you there.
Challenge: Higher Costs
With increasing healthcare costs, the general public has started to look for other ways to access healthcare. People are now choosing less burdening ways that don’t cost them more than what they earn. The financial pressure has forced the patients to look for options outside their insurance network. This could hurt the healthcare industry, but this is also the opportunity that healthcare brands should grab to gain the patients’ attention.
Patients choose to check reviews of the doctors that they are going to visit. To make sure that your healthcare brand shows up first in people’s minds, you need to make sure that you have access to what a patient reads about your healthcare brand. Referral programs, impressive guest content, and local partnerships can increase your brand awareness.
Challenge: Insurance Business
Patients are looking for insurance-free ways, whereas hospitals are more focused on getting insurance to compensate them for their services. Insurance companies and doctors of such hospitals have a lot of control over what healthcare services are accessible to which patient, which is one of the reasons why people are tired of their insurance networks.
The explosion of healthcare data requires a new ecosystem built around the individual — one that will accelerate affordable and accessible healthcare. While keeping the importance of the doctor-patient relationship in mind, it is essential that marketers develop strategies that are beneficial to both the healthcare brand and the patient. Getting a little personal, such as sending customized messages or gift boxes, can help a patient connect with healthcare businesses on a more personal level. Standing at the center of the future ecosystem, the individual should become the focus for a hyper-personalized approach to health and wellness.
In many ways, healthcare marketing challenges are different than those in other industries — even when they seem similar. It’s a complicated space to navigate, and fraught with rules and regulations. But there is also enormous potential there if you can do it right. By identifying challenges right at the outset, you and your team will be empowered to employ more innovative — and ultimately effective — marketing strategies to succeed in spite of these challenges.
Challenge: Digital Hindrances
A number of innovative solutions are changing the way that patients interact with healthcare brands. Healthcare brands are usually assessed by patients based on their reviews that are available on the internet, and most of the patients fully rely on those reviews. A large number of patient populations choose their doctor based on the reviews they have gotten from past patients, which gives the patient room to be pickier and sets back the business of healthcare brands.
Brands of the healthcare industry need to be more aware of the technological advancements that can help them bring more business. Using the right channels to target more customers can really be a game-changer for healthcare brands, and using the right tools can help them project a positive image of themselves.
Challenge: Data Privacy
Marketing professionals know that consumers appreciate personalized service. People want to engage with products and services that meet their needs. This becomes difficult in healthcare, where privacy laws make it challenging to collect, store and use patient data. It’s important to make sure you are marketing to consumers who will actually benefit from your offering, but how?
Responsive, personalized marketing is possible in healthcare. As the industry becomes more focused on helping patients live healthier lives – not just treating symptoms and illnesses when they occur – there is an opportunity for marketers to do broader, lifestyle-targeted advertising, by leveraging performance marketing and working with lifestyle-focused affiliates. Personalized communications on topics such as healthier eating, screening, and managing chronic disease are becoming more useful and beneficial to marketers and consumers alike.
Challenge: Public Perception of Healthcare
A lot of people are not in love with the healthcare industry. The recent controversies over the nature of health insurance have only made the challenges of marketing health care more apparent. Finding a doctor you trust is a relief, but not all consumers have had that experience. Today’s consumers are bombarded with sometimes outlandish drug ads. It can take a lot of effort to win over a skeptical – even cynical – audience. Fortunately, practices can accomplish a lot through performance marketing.
Partnering with influencers or publishers that are trusted by their audience, you can create and send out humanized messaging. A lot of your audience might be skeptical of your brand, but with the help of publishers, you are able to create a more authentic, positive relationship with them.
Challenge: Level of Expertise Required
To write compelling healthcare marketing copy and interact with physicians and other healthcare providers, it’s important to know the dictionary of terms specific to the specialty you are marketing. In addition, sometimes patients do not use the exact same terms. Further aggravating the problem is the fact that a good marketing strategy for health care relies heavily on creative messaging to attract the right patients.
Just understanding the words patients use is not enough. To create more in-depth marketing materials, you also need to understand the treatments and conditions on a much deeper level. Marketers should consistently work with experts who understand the terminologies and how treatment works in order to create convincing content.
In many ways, healthcare marketing challenges are different from those in other industries — even when they seem similar. It’s a complicated space to navigate, and fraught with rules and regulations. But there is also enormous potential there if you can do it right. By identifying challenges right at the outset, you and your team will be empowered to employ more innovative — and ultimately effective — marketing strategies to succeed in spite of these challenges.
How Leading Healthcare Brands Adopt Performance Marketing
There are a number of healthcare brands that are already successfully using performance marketing. Here are a few of them:
New York-Presbyterian Hospital (Campaign: Patient Stories)
A seemingly common but incredibly effective marketing strategy is patient testimonials. These expressions of appreciation really change the way people think about you or your brand. The New York-Presbyterian Hospital remains ahead of the curve with this tactic by creating video content to promote their brand. The New York-Presbyterian Hospital has been distributing video content with testimonials from different patients. Using storytelling, these videos introduce a heart-warming touch and allow the viewers to understand how much care and attention they’ll get at the New York-Presbyterian Hospital.
Dana-Farber Brigham & Women’s Cancer Center (Campaign: You Have Us)
Through confidence-inspiring web videos, the Dana-Farber Cancer Institute shows its personal approach to cancer treatment and state-of-the-art facilities. One of the most comforting and supporting slogans used for this campaign was, “Right now you may have cancer. But what your cancer doesn’t know is that ‘You Have Us.’” By sharing these videos on social media and beyond, the cancer center epitomizes what it means to build trust with your target audience. These videos touched millions of hearts and helped the Dana-Farber Brigham & Women’s Cancer Center in spreading their message on a wide scale through social media, television, and radio.
UnitedHealthcare (Campaign: We Dare You)
“We Dare You” by UnitedHealthCare is an award-winning campaign that encourages its patients to take part in its “dares” and quizzes to win prizes on the website. This campaign engages its patients in making one small change every month and motivates them to share it on social media.
This interactive campaign proved to be a successful strategy that brought significant change and led to healthier habits in patients while also promoting a community of loyal patients.Bayer Healthcare (Campaign: Pharmacovigilance)
It’s rarely found that a healthcare organization is tapping into creating video animation campaigns. However, Bayer Healthcare, a global pharmaceutical company focused on the life science areas of healthcare and agriculture, has taken a phenomenal approach.
Instead of creating another boring article or health report in text form, the company decided to entertain and engage their target audience with animated video campaigns.
The company created animated video shows to educate in real-time how pharmacovigilance works. It’s incredible how it all comes together to inspire the viewer to take action or learn more.
Carilion Clinic (Campaign: #YesMamm)
Twitter is a fantastic social microblogging platform for advancing a good cause. Carilion Clinic was aware of the “Twitter power” and tapped into it for its “Yes, Mamm” marketing campaign.
The Carilion Clinic, a healthcare facility based in Virginia’s Roanoke Valley, aimed to answer questions about breast cancer. In addition, the clinic wanted to spread its wings and really help people in their city and across the country.
Using the hashtag #YesMamm, the Twitter campaign has garnered a lot of attention. The campaign is interactive, and as a result, more Twitter followers engaged with it. This created a worldwide awareness of breast cancer and helped many people keep their hope alive. The campaign achieved a huge success and resulted in thousands of visitors to the Carilion Clinic website and conversions of bookings.National Jewish Health (Campaign: WE NEVER SAY NEVER®)
Patient stories can be a powerful tool to build trust with potential patients interested in your facility. Testimonial ads are emerging as a new type of engagement tool for healthcare digital marketing.
National Jewish Health has used their patient stories and testimonials to create a memorable experience. The “Never Say Never” campaign continues to make waves and attract the right audience for the organization. This campaign features attractive imagery, a compelling tagline, and informative flair, as well as inspiration for sufferers.
Healthcare Marketing & Advertising Regulations
Keeping patients well-informed is a core principle of American healthcare policy, and advertising plays a vital role in sharing important information with the public. Promotional activities by healthcare stakeholders are subject to the general rules and regulations enforced by the Federal Trade Commission (FTC). The FTC is clear that before disseminating an advertisement, the advertiser must substantiate any and all claims that the ad conveys to consumers. The FTC has established a three-part standard for the determination of a deceptive advertising practice:
- There must be a representation, omission, or practice that is likely to mislead the consumer. Practices that have been found misleading or deceptive in some cases include misleading price claims, failure to perform promised services, failure to meet warranty obligations, and more.
- The practice is examined from the perspective of the consumer acting reasonably in the circumstances. If the representation or practice affects or is directed to a particular group, the FTC examines reasonableness from the perspective of that group.
- The representation, omission, or practice must be a “material” one. The basic question is whether the act or practice is likely to affect the consumer’s conduct or decision with respect to the product or service.
Pros And Cons Of Available Advertising Platforms
Facebook is the leading social media channel and has now become an essential part of the overall marketing plan. It offers a variety of options to show your ads to people visiting Facebook or Instagram. The biggest advantages of using Facebook marketing are microtargeting and the ability to retarget previous visitors. There is a chance that your content could go viral when you’re advertising on Facebook. When people share your ad with their friends, this increases the likelihood of your ad going viral. Facebook advertising focuses heavily on the advertiser’s bid, ad quality and relevance, and estimated amount of actions.
Facebook’s advertising platform also optimizes your ad to use the best-performing one, so you gain valuable information as to what type of advertising content works and what doesn’t. The platform is user-friendly. Facebook offers ad solutions for every skill level. In the Ads Manager, you can automate various campaign steps, such as letting Facebook set your audience, daily budget, and ad delivery. As you become more experienced, you can fully customize your campaigns and dive deeper into performance reporting. The ability to create advanced reports with the data points that matter to your business can provide great insights and allow you to implement the critical insights that you learn from your data. Facebook Ads can grow with your marketing and technical skills.
Unfortunately, Facebook marketing is only good as long as you’re paying for it. With Facebook, it’s all about money and the race to increase your investment if you want your content to be seen and noticed. While mid-sized and larger businesses should have little to no issue paying for ads, small businesses may feel left out due to budget limitations. Additionally, the privacy issues now being raised on Facebook and the way the company is approaching developing privacy-enhancing techniques to deliver ads impose huge challenges on our understanding of the audience to which our ads are being delivered. Due to more privacy-conscious ad creation, neither the advertiser nor the ad platform is allowed to learn new information about individual users.
Google Ads is an intent-driven channel and allows you to bid on keywords. When a customer Googles a particular product, Google provides them with the most relevant and authentic results possible. However, to get your website to the top of the results page, you have to advertise or/and be really good with SEO (Search Engine Optimization). Google Ads lets you measure every detail of your ad and be really detailed when measuring your advertising results. In addition, you can always test new ideas and keep improving based on the data. You can test what keywords you want to generate traffic for, what landing pages work, and you can learn a lot about your customers. your budget can also be big or small. Google Ads does not have to be expensive. It’s quite easy for small businesses to set up small, tightly optimized campaigns and profit from them. You can specify how much you are willing to spend and set your maximum cost per click for your keywords, and then you only pay for clicks.
When using Google ads, you pay for each click leading to your website. That means that whenever someone clicks on your ads, you will get charged regardless of whether the user converts or not. As a result, you might get clicks from users not interested in your product or service. Additionally, the healthcare industry is a competitive industry that generally has a higher cost per click. If your competitors are already using Google Ads, this might be the reason why you need to start your own campaign. The competition can be fierce and lead to higher campaign costs as a result. Also, Google Ads are limited by the number of characters allowed. There are three 30-character headlines, two large 90-character description lines, and a customizable display URL. Lastly, Google checks the quality of your landing pages. So your website must be up to date in terms of relevance to the search query.
With a large number of users, LinkedIn features all kinds of audiences, such as business owners, corporate sharks, influencers, etc. If targeted right, the LinkedIn audience can really make a significant change to your business because you can reach the right segment by mastering targeting, giving you the chance to target people with specific educational backgrounds, salaries, and attitudes.
Plus, LinkedIn Ads, like any other advertising platform, supports remarketing and lookalikes – so-called customer match audiences – which are a great way for brands to increase their reach. And since LinkedIn is owned by Microsoft, one of the unheralded features of LinkedIn Ads is that its audiences can also be used in Microsoft Advertising (or Bing Ads), which is a smart way for search marketers to leverage social audiences.
Unlike other social networks, LinkedIn is not the place to post cat videos, cheeky GIFs, or political jokes and comments. It focuses on professional experience and development, attracting users who want to advance their careers by presenting their best selves to the world. People approach it with a business mindset rather than an entertaining pastime. Therefore, companies that advertise on LinkedIn are largely not associated with negative or offensive posts and users. Compared to networks like Facebook, Twitter, and Instagram, LinkedIn is considered a safe place for advertisers. Marketing in the healthcare industry can be less concerned with the biased views of healthcare companies on LinkedIn.
On one hand, LinkedIn offers access to a high-value audience, but on the other, it comes at a high price. Compared to other social media platforms, LinkedIn is one of the most expensive social media advertising platforms. With the overall costs higher than usual, so is the minimum daily budget for your campaign. Ideally, LinkedIn is suggested to companies with high available capital.
Of course, not everyone you reach out to on LinkedIn will be able to use the products and services your company offers. Some people only use the site to search for job opportunities and are not interested in what you are trying to advertise for. Keep this fact in mind when designing your campaign and choosing who to target.
YouTube advertising is cost-effective as you only pay when someone clicks on your ad. Apart from this, you can also choose exactly how much you are willing to pay when someone clicks. This means that you will never waste money on advertising space. Moreover, YouTube is highly targeted as it allows you to target an audience based on demographics, customer match, similar audiences, video remarketing, (custom) affinity audience, in-market audience, and life events. Because of this high dwell time, there are more chances for visitors to pay attention to ads. This rate is even higher on mobile devices. YouTube also allows users to track the performance of their videos and ads. By using YouTube’s advanced analytics reports, you can discover details about your viewers’ interests, find information about specific ads’ performance, and much more.
YouTube offers sophisticated targeting and it’s a great place for viral content because users love sharing videos. However, the targeting is sometimes poor, and the follow-on content can be off-topic to what you are advertising for. Moreover, with the “skip” button that appears with your ad on the screen, it’s really challenging to figure out how to get your audience hooked to your ad within 5 seconds or less. If you can’t achieve that, ads that can’t be skipped are a great option as your audience will get to watch the entire ad while you can hope people don’t find your brand suddenly annoying. YouTube’s algorithm gives viewers the kind of videos they want to see because it increases advertising revenue. The downside is that competing content is displayed in the sidebar while a prospect is watching your video. This inadvertently gives your competitors extra attention.
Another limitation with YouTube is that the site does not allow customization. YouTube does not support elements that increase branding and interaction, such as a brand bar with a logo or a strong call to action that you can include in the video player. Both tactics increase interaction between 200 and 500 percent.
Reasons Why You Should Choose Performance Marketing
Most advertising campaigns have a goal attached to them such as increasing website traffic, getting leads, or conversions. Performance marketing makes it easy for marketers to optimize campaigns to lead to the desired results. Unlike traditional marketing, advertisers only focus on specific actions that contribute to their end goals. Here are five key benefits of performance marketing over traditional marketing strategies.
- Better Planning: Performance marketing campaigns are easy to budget as marketers need to identify goals and an ideal cost per action at the beginning of the planning process. As an example, a $10,000 budget would be appropriate if a marketer expects to pay $0.50 per click and has a goal of 20,000 website visits.
- Pay ONLY for Results: The most obvious benefit of performance marketing is that you only pay for the results. It is important for marketers to identify their end goals and stick to them as campaigns may underperform if the goal is changed on the way.
- Track & Measure Performance: With metrics such as impressions, clicks, click-through rates, and conversions, marketers can track the performance of the ads, ad groups, and campaigns to determine the return on investment. If a campaign isn’t meeting expectations, marketers can make optimizations or pause the existing campaigns to create new ones, so that the budget can be reallocated somewhere else.
- Easy ROI measurements: Performance marketing makes it easy to track and measure your results, just like other types of digital marketing. Every time a user clicks on your ad, signs up for your email subscription list, or takes some other action you wanted them to take, you’ll know instantly that you have achieved your goal. This makes it easy to track your return on investment (ROI) at any point in time. You will also know what your financial commitments are when it comes to paying for your performance marketing campaign.
- Validation by a third party: It’s always better to have someone else tell you how awesome your brand is than to claim it yourself. In performance marketing, third-party validation is used effectively when influencers and affiliates promote and praise your products. Using a third-party, healthcare marketers can seek fair validation of their services’ quality, their brand’s reputation, and their patients’ satisfaction.
- Pivot in real-time: Most platforms break down performance by individual ads. Knowing how each ad is performing with the target audience is a huge advantage, allowing marketers to respond and adjust to feedback throughout the campaign. If an ad with a certain headline has a higher click-through rate than others, smart marketers will use that headline with other media to see if the conversion rate can be optimized further. Responding to this performance over the life of a campaign can lead to more positive results within the original campaign budget.
Every marketing strategy has its pros and cons, and performance marketing is no different. It offers multiple benefits to the brands that are willing to adopt it. Performance marketing has also made things worry-free for the advertisers and brands as they can measure every step of the advertising process. Marketing professionals can now precisely determine the right audience for a brand and send them a message at the right time through the right medium.