Today our topic is going to approach the last part in the Holistic Marketing model, which is Performance Marketing. Let’s start with a simple definition, performance marketing, by thepma.org, is “Performance Marketing is a comprehensive term that refers to online marketing and advertising programs in which advertisers and marketing companies are paid when a specific action is completed; such as a sale, lead or click.” This strategy seems complicated but actually not. In a word, Performance Marketing is how a firm know whether their marketing actives are successful or not by comparing feedback and data.
In more detail, a firm should consider the marketing profitability, which means financially whether specific marketing action influences company’s profit or not. Moreover, marketing nowadays approaches to social responsibility marketing increasingly. For the reasons that a firm as a public figure has their responsibilities and roles in the society. Each product and marketing action would more or less influence this society. Thus, when firm practice performance marketing should consider their social roles and their influences to this society.
After introduce what is Performance Marketing, now let’s talk about the benefits from doing performance marketing. Tacking the feedback of marketing active needs little investments but will bring lots of profits. The data from the tracking marketing actives could be used in the development of the next product. Most of the firm will choose to do performance marketing by online channels, because the data collection will be easier to analysis.
In a word, Performance Marketing is an essential composition in Holistic Marketing model.
Kotler, Philip, Kevin Lane Keller, and Taihong Lu. Marketing Management in China. Singapore: Pearson Prentice Hall, 2009. Print.
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