Marketing departments no longer get a free pass; they need to deliver measurable results.

New technology, new business models, and new expectations have given rise to the discipline of performance marketing, and for each dollar they spend marketers must now show corresponding results.

Performance marketing demands objective ways to evaluate what's working and what's not in relation to vendors, channels, media, and creative. Marketers need granular metrics like CTR, CPC, and CPA, as well as high-level indicators like ROAS (return on ad spend), that demonstrate how particular strategies and tactics affect the bottom line, profit margins, and cost efficiency.

Today, that means omnichannel measurement. Tracking how one channel functions in isolation no longer works. Marketers not only need to understand how channels work together but also to drill down into the nuances that provide actionable insight.

A successful performance marketing program marries the detailed metrics with the business KPIs, using the former to drive the latter.

With that in mind, here are nine advanced optimization techniques that can help you cut the fat from your performance marketing programs.

1. Identify low-contribution channels

Cross-channel measurement programs typically look at which channels led to an eventual conversion. That's great, but not all touchpoints are created equal. It's critical to learn which channels actually contributed to the action, not only which ones were somehow involved.

For example, a prospect may have seen your ad on TV, visited your website via mobile, viewed a display ad, and finally made a purchase via desktop browser. You need to know whether that display ad, for instance, affected the final conversion or just cost money.

Identifying the low-contributing channels allows you to cut the tactics that don't carry their share of the weight.

2. Optimize for touchpoint frequency

Two channels deliver the same number of conversions, but one requires two touchpoints while the other requires 20. Are they of equal value? Analyze the amount of budget and resources that go into creating a conversion per channel to ensure optimal bang for your buck.

3. Analyze the long tail

Some channels take longer to convert. That isn't necessarily a bad thing, but you're spending significant money retargeting prospects from those channels along the way. Make sure you're hitting the right targets by analyzing your long tail channels by audience, identifying highly qualified leads and lookalikes so that your time and money can go to the right place.

4. Measure the saturation point

Enter your email address to continue reading

Nine Ways to Cut the Fat From Your Performance Marketing Programs

Don't worry...it's free!

Already a member? Sign in now.

Sign in with your preferred account, below.

Did you like this article?
Know someone who would enjoy it too? Share with your friends, free of charge, no sign up required! Simply share this link, and they will get instant access…
  • Copy Link

  • Email

  • Twitter

  • Facebook

  • Pinterest

  • Linkedin


ABOUT THE AUTHOR

image of Tracy Kemmer

Tracy Kemmer is director of client services at Conversion Logic. She has worked in the marketing attribution field since its infancy, helping organizations thread together user paths and algorithmic data to find actionable business insights.

LinkedIn: Tracy Kemmer