Making the transition from print-based marketing to Web marketing can definitely be a wild ride. With print marketing, there’s more of a chance to charm your audience with your tone and style. With Web marketing, it’s all about being fast and making it fit. Suddenly, you’ve got to be able to tweet your message, 140 characters or less.
There is a range of performance marketing strategies that can help you take a campaign to the next level. Familiarize yourself with some of these Web marketing strategies, and then incorporate your unique skill and marketing savvy.
1. Cost per Click
Cost per click, or CPC, is one of the major performance marketing strategies. CPC campaigns can generate high volume traffic to your website. With these campaigns, you pay for what you get and you pay for the keywords you use. No clicks, no money. Depending on your keyword, CPC campaigns can get pretty expensive pretty quickly, though. Cost per click marketing might be the LBD of marketing campaigns. You can take it just about anywhere. Throw a CPC ad on Facebook, connect with affiliate partners, put it in an email or take it mobile.
An example of a campaign that would work well with CPC might be when you’re launching a new campaign and you need branding, site visits and major impressions fast. Some positives of this marketing method include its total versatility, click verification and the fact that it takes the user right to your site. Downsides include the high cost of premium keywords, the fact that keyword prices fluctuate over time, and the conundrum that the more successful your product is, the more your marketing costs climb.
2. Cost per Lead
While cost per click puts your product in front of major Web traffic, cost per lead, or CPL, takes a more laid-back approach. This time, you dangle a hook to interested potential customers, and then allow customers to opt in to receive more information. Think of social media sites that use versions of this tactic, such as Pinterest or Spotify. You can view the website, but must request and receive that invite to join. CPL campaigns weed out junk data, because customers must enter their information themselves. Plus, you get access to all of that premium contact information, while giving customers an out down the road later.
3. Cost per Acquisition
With CPA, or cost per acquisition, you pay out when a consumer takes a certain action that you decide, such as creating an account, becoming a member or making a purchase. Because you decide what action tips the switch, CPA marketing is extensible to any type of campaign, and can be integrated in social media. Product sales are a natural fit with CPA marketing. Since you only pay when action happens, CPA may seem fairly low risk. However, if you’re paying for more leads and not getting much return, you could actually lose capital.
There’s a right time for each of these methods. Pick the method that matches best with your current needs, and don’t be afraid to use more than one.