Perfromance Advertising Checklist
By answering a few not so "personal questions" you can get a review of your performace advertising approach.
What is Performance Advertising and why do you need it?
Performance marketing was born from a need to decrease cost per acquisition and increase ROI, this created the need to have and analyze more marketing data. Bringing us to the new age of data-driven marketing. I prefer remaining data-informed, influenced but not completely piloted, but this is a discussion to have another time.
Online advertising is providing advertisers with great benefits (such as high relevance, measurable results, total budget control, the ability of speedy response and valuable insights of their performance, helping them to optimize their campaigns according to the best cost per desired action or result rate.
There exists a plethora of channels to get to your potential audience. Each platform has its own advantages, such as being there when someone is looking for your or someone that can offer what your business is offering, even building recognition to in-market people surrounding your products & services at their most receptive times etc.
In most traditional forms of advertising, the advertiser pays a fee up front for ad space independent of performance. That could mean hundreds to thousands of dollars spent without ever seeing a conversion or at least understanding what did not work. With performance marketing, advertisers only pay for successful actions, i.e. clicks, measured impressions etc. The key behind Performance Advertising is to invest a enough time and budget and learn as you go along.