Performance Marketing Trends
Performance marketing has become an increasingly popular form of advertising in recent years due to its ability to provide measurable results and accountability. What leader doesn’t want results and accountability? (Crickets.)
Earlier this spring, we had the opportunity to attend JEGI CLARITY’s 19th Annual Media & Tech Conference where performance marketing was a hot topic. They reported $9 billion in performance marketing spending in 2021 drove $71 billion in e-commerce. Wow! Seems like a healthy ROI. Here are some of the current trends across the performance marketing landscape and how they are shaping the future of digital advertising.
Influencer marketing
Influencer marketing has been trending in the past few years, and it continues to grow in popularity. With social media platforms such as Instagram and TikTok, influencers have become an essential part of the performance marketing landscape. Brands partner with influencers to promote their products or services to their followers, and the results are often impressive. According to a study by Influencer Marketing Hub, businesses are earning an average of $5.2 for every $1 spent on influencer marketing.
Data-driven marketing
Data-driven marketing has been around for a while, but it is becoming even more critical in the performance marketing landscape. With the rise of artificial intelligence and machine learning, marketers can now collect and analyze vast amounts of data to make informed decisions about their campaigns. They can use data to optimize their ad spend, target specific audiences, and personalize their messaging.
Programmatic advertising
Programmatic advertising is the use of automated technology to purchase and optimize digital advertising in real-time. It enables marketers to reach their target audience with the right message at the right time and place. Programmatic advertising is growing in popularity, with a predicted global spend of $116 billion in 2022, according to MarTech.
Video advertising
Video advertising has become a powerful tool in the performance marketing landscape, with the rise of image-focused platforms such as TikTok, Instagram, and YouTube. Companies are using video content to engage with their audience and drive conversions. According to a study by Wyzowl, 91% of businesses use video as a marketing tool.
Voice search optimization
With the rise of smart speakers and voice assistants such as Alexa and Siri, voice search optimization has become an essential part of the performance marketing landscape. Brands need to optimize their content for voice search to ensure that they are appearing in search results when people use voice search.
Performance marketing strategies are constantly evolving, and these trends are shaping the future of digital advertising. By staying up-to-date with these trends and newly emerging strategies, perhaps you and your organization can ensure you are optimizing your campaigns for maximum ROI and staying ahead of the competition.
