What is Performance Marketing and How Does Tracking Work?
Marketing has been changed over the past few decades. Earlier, the major marketing methods used to Television, Radio, Newspaper, Magazine, etc. But, right now, we have so many marketing methods and tools available.
The good thing is the marketing methods available right now, can be used by all business types no matter whether it is small, medium, or large. The presence of the internet and technology has changed the way marketing used to be earlier. In this post, we will talk about one of the broad digital marketing terms - performance marketing.
What is Performance Marketing?
In simple terms, performance marketing means marketing based on performance. Whenever the publisher or affiliate completes or performs a particular task, he/she gets paid by the merchant or retailer.
The performance in performance marketing could be a sale, lead, booking, download, or subscription.
This marketing type helps the retailer or merchant to achieve its business goal. Performance marketing is beneficial for both, retailer/merchant as well as publisher/affiliate.
For the merchant, generating leads, sales, etc., becomes less stressful. And, the publisher can earn the commission or fee or bounty when the given task is performed successfully.
Performance Marketing vs Affiliate Marketing
People often get confused between affiliate marketing and performance marketing because both the concepts sound very similar. To better understand the difference between these two, first understand their meaning.
Affiliate marketing means when the publisher or affiliate promotes & gets the sale of any product or service of a merchant. In return, the merchant pays a certain commission or fee.
On the other hand, performance marketing is when the publisher or affiliate performs any task for a merchant in return for some commission or fee. The task could be to get sales, leads, etc.
In a nutshell, performance marketing is a huge concept and affiliate marketing is the part of performance marketing. Hence, we cannot say that performance marketing and affiliate marketing both are same.
How Does Tracking Work in Performance Marketing?
No matter what marketing method or strategy you have, after the implementation, if you don't track the results, it's not worth it. Tracking the results of your marketing strategy allows you to compare your results with your desired goals.
To help publishers or affiliates track their performance marketing results, various third-party tracking tools play a significant role.
Different third-party tracking platforms helps merchants as well as affiliates to keep track of sales, leads, and conversions.
Depending on the performance or affiliate marketing network you choose, some companies have their own tracking platform, while some collaborate with other tracking platforms.
Some popular affiliate networks and tracking platforms are Partnerize, AWIN, Impact, Commission Junction, Avantlink, HasOffers, and Rakuten Marketing.
Bowaba is a digital marketing agency based in Kuwait. At Bowaba, we have a team of experts who can provide you with different digital marketing services, with best results. We can provide various services such as SEO (search engine optimization), SMM (social media marketing), SEM (search engine marketing), and many others.
If you are having any difficulty with your performance marketing or any other digital marketing campaign, feel free to contact Bowaba at 66605095