PERFORMANCE MEDIA: WHAT IS IT AND HOW TO MEASURE IT?

 

Friday, December 15, 2023

 Thought it would be helpful to always provide updates on new terminology as the ad industry changes. Philip Jay LeNoble, Ph.D.

 PERFORMANCE MEDIA: WHAT IS IT AND HOW TO MEASURE IT?

by Roberta Muller

The whole world has understood – especially now during the coronavirus pandemic – that we are in the digital age. And the evolution in the marketing area, of course, involves the transformation of the way we do advertising. 

Digital marketing is, today, among the main strategies of brands and companies. And even he himself has been undergoing constant transformations with the advancement of technologies and the increase in the purchase interest of users on the internet.

Anyone working in advertising knows how important traditional media was and how paid advertising strategies weren't seen all that well.

But today this scenario has changed, using performance media, associated with other strategies, such as content marketing, for example, is already one of the main factions within digital marketing in companies.

Campaigns on paid media are strong allies of marketing and generate accurate results to drive business in a short period of time. 

But how to measure performance media? We know that many companies have enough investment for this type of strategy, but they don't know how to measure the results. Aligning this strategy with the return being achieved is essential to bring a competitive advantage in the market.

Today, we are going to explain to you what performance media is and how best to measure your strategies. 

DO YOU KNOW WHAT PERFORMANCE MEDIA IS?

Performance media is a type of advertisement/advertisement that is not paid with a predetermined amount but varies according to its performance.

It is possible to define in advance the "prices" of a campaign on digital channels through, for example: 

·                Impressions/CPM (Cost Per Thousand): When we define that the budget will be directed to the number of times an ad was seen.

·                CPC (Cost Per Click): When the budget will be spent on the amount of clicks on the ad.

·                CPL (Cost Per Lead): When a potential customer agrees to provide their contact details.

·                CPA (Cost Per Acquisition): when the conversion rate is calculated, that is, when the lead actually became a customer.

With this tool, digital marketing channels allow companies to segment their campaigns and accurately measure performance.

Currently, among the most popular performance media are Google Ads and sponsored ads on social media, such as Facebook Ads (which also includes Instagram).

DETAILS OF THE MAIN PERFORMANCE MEDIA

·                • Social Ads: are ads on social networks. As we said, they are on Facebook, Instagram, LinkedIn, etc.

·                • research network is the placement of campaigns in search engines, such as Google, the main one. These are the sponsored links that we see when searching for anything on them, according to the activated keywords.  

·                • Display: is a type of campaign activated with target audience segmentation, in which advertising appears on websites, apps and blogs, according to the user's interest, demographic information and other information. Here we can also include Youtube, which has grown in performance media, and Google Shopping, specific to products. Remember that the display network is an important remarketing tool.

The strategy used will depend on the objective of the local-direct company, which may want to generate leads, increase sales, be recognized, launch new products on the market, etc. 

Now....here's an article relatable to Performance Media....to further the understanding of Performance Media

 

Do More with Less: The Balance of Branding and Performance

·                by Phil Case , December 13, 2023

·                The whole world has understood – especially now during the coronavirus pandemic – that we are in the digital age. And the evolution in the marketing area, of course, involves the transformation of the way we do advertising. 

Digital marketing is, today, among the main strategies of brands and companies. And even he himself has been undergoing constant transformations with the advancement of technologies and the increase in the purchase interest of users on the internet.

Anyone working in advertising knows how important traditional media was and how paid advertising strategies weren't seen all that well.

But today this scenario has changed, using performance media, associated with other strategies, such as content marketing, for example, is already one of the main factions within digital marketing in companies.

Campaigns on paid media are strong allies of marketing and generate accurate results to drive business in a short period of time. 

But how to measure performance media? We know that many companies have enough investment for this type of strategy, but they don't know how to measure the results. Aligning this strategy with the return being achieved is essential to bring a competitive advantage in the market.

Today, we are going to explain to you what performance media is and how best to measure your strategies. 

DO YOU KNOW WHAT PERFORMANCE MEDIA IS?

Performance media is a type of advertisement/advertisement that is not paid with a predetermined amount but varies according to its performance.

It is possible to define in advance the "prices" of a campaign on digital channels through, for example: 

·                Impressions/CPM (Cost Per Thousand): When we define that the budget will be directed to the number of times an ad was seen.

·                CPC (Cost Per Click): When the budget will be spent on the amount of clicks on the ad.

·                CPL (Cost Per Lead): When a potential customer agrees to provide their contact details.

·                CPA (Cost Per Acquisition): when the conversion rate is calculated, that is, when the lead actually became a customer.

With this tool, digital marketing channels allow companies to segment their campaigns and accurately measure performance.

Currently, among the most popular performance media are Google Ads and sponsored ads on social media, such as Facebook Ads (which also includes Instagram). 

DETAILS OF THE MAIN PERFORMANCE MEDIA

·                • Social Ads: are ads on social networks. As we said, they are on Facebook, Instagram, LinkedIn, etc.

·                • research network is the placement of campaigns in search engines, such as Google, the main one. These are the sponsored links that we see when searching for anything on them, according to the activated keywords.  

·                • Display: is a type of campaign activated with target audience segmentation, in which advertising appears on websites, apps and blogs, according to the user's interest, demographic information and other information. Here we can also include Youtube, which has grown in performance media, and Google Shopping, specific to products. Remember that the display network is an important remarketing tool.

The strategy used will depend on the objective of the local-direct company, which may want to generate leads, increase sales, be recognized, launch new products on the market, etc.