Saurabh Sangar, Founder and Director of Quanttifi Digital is a seasoned digital entrepreneur with a proven track record of working in the Internet industry. He is an expert in Digital Strategy, Search Engine Optimization (SEO), Sales, Corporate Communications and Market Research with a strong sales professional with a Marketing focused PGDBM from IILM, New Delhi.
In today’s era, online marketplace brands are thriving to create a connection between the consumer and the business. Companies not only meet the needs of their customers, but also anticipate and exceed their expectations. Industries are constantly undergoing vital developments and brands, with the help of digital marketing agencies, are adopting new-age methods like performance marketing to gain a competitive edge in the markets. Having a digital presence is now not a substitute option but a necessity to modernize the brand’s marketing methods. New trends in performance marketing are emerging that are orchestrating authentic interactions with customers, facilitating informed decision-making, and creating strong marketing strategies with the help of technology.
Hyper-personalization for a superior customer experience
Marketing leaders have recognized that in order to attract new customers and retain existing customers, it is necessary to provide them with a superior experience. Hence, to excel in thriving markets, performance marketing strategy with hyper-personalization can be integrated to develop a better customer journey. It includes creating unique experiences for customers with the help of data, analytics and automation. Customers can get the content they want on the right platforms at the right time through contextualized communications. Implementing hyper-personalization can help brands with personalized content generation, detailed product targeting reduce CAC (customer acquisition cost) and in-the-moment customer journeys. To design better strategies, content effectiveness testing should be done regularly.
Intelligent decision making with AI and ML
Brands need concrete solutions to perform intelligent analysis and make quick decisions with accuracy and AI/ML is poised to transform the industry with its benefits. According to a previous report by Mckinsey & Company, AI and ML are expected to generate between $1.4 trillion and $2.6 trillion in revenue by solving marketing and sales problems in the industry over the next three years. AI and ML can help with risk predictions, well-targeted email campaigns, automated content generation, and customer buying pattern determination. It also has the ability to evolve PPC campaigns with automatic bidding, ad delivery optimization and optimal keyword research.
NFT-Crypto to create buzz for the brand
Social platforms now integrate cryptocurrency payments and facilitate in-app NFT purchases to sell the brand beyond its products and services. Brands can capitalize on the hype of these trending technologies and build a community that can interact with them while enabling user-generated content. This community building can allow users to share feedback, create demand for a particular token, and freedom to create content in the form of digital products that are valuable in the digital marketplace. NFTs and cryptocurrencies provide a unique form of internet culture for Gen-Z and millennials who can partner with brands to create multiple streams of revenue in a decentralized manner.
Extended Reality (XR) for strong customer engagement
For better customer engagement, brands are using augmented reality as part of their performance marketing strategy. It is an ROI based solution that allows the customer to enter a virtual environment and interact with the brand through Virtual Reality (VR), Mixed Reality (MR) and Augmented Reality (AR). Customer perception can be altered and attracted to the brand with the help of 360-degree videos, virtual stores and virtual events. Using XR, brands can have better conversion rates with this dynamic performance-based strategy, as brands can deliver brand-led experiences to the potential customer by creating a virtual environment through digital content.
Content/customer segmentation for a tailored experience
Brands are able to acquire customers in a better way when they develop a plan to target customers with shared interests through segmentation. Performance marketing strategy can include segmenting content on websites based on industry, requirements and demographics. Once potential customers visit the page, they can be targeted with personalized content, including blogs, videos and articles related to the customer based on their buyer persona. For proper engagement, visitors must be able to select categories and then receive relevant content. It is necessary to understand the psychographic element of the customers, personality traits, social status and preferences and then adding empathy to the content is the right method for this strategy to work successfully.
All things considered
With these trending concepts, brands can successfully plan their performance marketing strategies that would lower their CAC and improve their PPC campaigns. Performance marketing is results-driven, and new-age technologies can leverage desired results by improving customer experience and customer engagement. Ads can perform well on omnichannel platforms while increasing the likelihood of conversions, impressions, sales, clicks and leads. With the newest trends in the market, customer behavior is expected to change and performance marketing can provide a collective solution to create a win-win situation for both brands and affiliates.
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