Performance marketing is as it sounds: marketing based on performance. This tends to result in advertising with the goal of driving some sort of action that can be measured. And it’s normally associated with online sales, but it can also be applied to other desired results like web visits, lead generation, or foot traffic. But it’s nothing new for programmatic advertising. Nor is it new for Simpli.fi, which has been at the heart of performance marketing since 2010.
WHAT MAKES PROGRAMMATIC ADVERTISING A PERFORMANCE MARKETING ENGINE
People expect marketing to perform ‚Äì and they should. Programmatic advertising, by definition, has served as a catalyst for bringing all paid media closer to performance marketing. That is due to the nature of programmatic, which focuses on buying one ad impression at a time. And based on the performance of that ad impression, you’re determining whether you want to buy a second impression based on whether you got the return or expected outcome from that particular impression. Then, in real-time, you begin modifying your purchase behavior for all future impressions.
The irony of this is that programmatic advertising started off as a bit of a branding exercise. Today, even when applied to branding campaigns, programmatic advertising is performance marketing. That’s because there’s often a finite budget and a specific audience to target in a sea of people. And programmatic platforms, like Simpli.fi, created systems and models to pick and choose the advertising impressions that are going to result in the kind of outcome that the advertiser wants.
HOW SIMPLI.FI SERVES AS A LEADING PERFORMANCE MARKETING SOLUTION
Simpli.fi’s performance marketing solutions gives advertisers access to superior performance faster with less waste and greater insight. From targeting, to optimizations, and reporting, we focus on driving performance every step of the way.
Within audience targeting and optimizations, data signals are not created equal. In other words, some data points carry more value than others. Let’s make an example of this and pretend we’re advertising for a jewelry shop. It’s easy to buy a collection of pre-built jewelry segments with consumers in-market to buy jewelry. And we fully support that capability on our platform. The problem is that different jewelry products hold different intrinsic values. Ask any jeweler who a more valuable customer is to them: the one buying the diamond engagement ring or the one buying a class ring. When you buy that segment, or collection of segments, at one price, you’re minimizing your effectiveness in two ways:
- When you bid up the segment, you’re overpaying for whatever the worst data is in that segment
- When you bid down the segment, you’re underpaying for whatever the best data is in that segment
Not all signals are created equal. Simpli.fi still supports the capability to buy those segments. But this is why we’ve built a programmatic platform focusing its targeting, optimizing, and reporting efforts on individual data signals.
We can upload 10,000 keywords with 10,000 individual bids in real-time to bid exactly what we want with what’s working versus what’s not. Or, with our geo-fencing technology, we can target individual physical competitor locations to impact your share of voice based on a user’s proximity to your store’s location. These examples are just two of several nuances available to increase performance faster with less waste.
WHY YOU SHOULD TRUST SIMPLI.FI WITH YOUR PERFORMANCE MARKETING NEEDS
What’s missing from the segmented approach is the ability to report on an individualized return on ad spend. This is a direct-divisible calculation, answering the question, ‚ÄúWhat did we generate as a direct result of the dollar spent?‚Äù While the formula is simple, the practicality is complex. For instance, an advertiser may associate a single value with a transaction happening on a website and divide it by the number of dollars spent. Others may be looking at the actual transaction value of that cart, so it becomes quite a variable number where the value of an individualized response to an advertisement varies sharply from consumer to consumer.
Simpli.fi’s ability to extract meaningful campaign data and consumer insights leads to greater performance. Just like with the segmented approach, we support the direct-divisible CPA goal. But we also support cost-per-visit, custom attribution windows, and full transaction value reporting (i.e., cart value). We can tell you which keyword or competitor target fence, paired with a specific creative, led to a $5,000 purchase versus a $5 purchase on your website. And we can use these dynamic metrics to inform our targeting and optimizations to minimize waste and improve performance faster with greater insight.
Additional Resources: Check out our recent webinar with James Moore, Simpli.fi’s Chief Revenue Officer, on Performance Marketing (April 2022). Or, read a recent case study of a direct-to-consumer apparel brand that continues to drive online sales with Simpli.fi’s performance marketing solutions.
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