Making B2B performance marketing work for you
Performance marketing is a pretty comprehensive term. It refers to advertising programs, as well as online marketing plans, in which the advertisers (the merchants and retailers) and the marketing companies (the publishers and affiliates) get paid whenever a specific action is accomplished. For example, the advertisers and the marketing companies may be paid once a click is made, a lead is generated, or a sale is completed.
B2B (business to business) performance marketing refers to performance marketing that's focused on selling products and/or services between businesses, rather than between businesses and consumers (B2C). But how can you really make B2B performance marketing work for you? Continue reading for a few helpful tips that will help you not only implement an effective marketing plan, but also measure its success accurately.
Start Running an Affiliate Program
You can begin taking advantage of performance marketing by diving into affiliate marketing, in which you would pay a publisher that will work on bringing customers to you so that you don't need to work as hard. You can then measure the performance of an affiliate based upon conversions, whether you're looking for more leads or actual sales in the end.
Don't Just Rely on Click-Through Ads
As a business, affiliate programs are a great way to advertise your products and generate more interest in your company as people click on ads and come to your website to make a purchase. But don't just rely on ads.
You can, for example, encourage affiliates to write reviews about your products or link to your site in other creative ways. After all, many people who are on a website will ignore ads in a sidebar, but if they're reading a blog that contains valuable information to them, and they trust the writer, they'll more likely click on a link that promotes your business as providing them with something they can use.
Work with Multiple Publishers
A good strategy for your affiliate program is to work with as many different publishers as possible in as many relevant niches as possible. Again, the goal is to generate as many leads, click-throughs, and sales as possible, so find businesses that are willing to work with you to advertise what you do and increase your conversions while they get a return as well.
Use an Affiliate Network
Rather than finding individual affiliate opportunities on your own, you can opt to join an affiliate network. Many business owners who are in search of affiliate opportunities will browse through these networks in search of big name brands and other opportunities to advertise fellow businesses that are more likely to generate profits for them.
The great thing about an affiliate network is that it will quickly provide you with a large number of publishers, but you will also enjoy other benefits, such as access to effective and accurate reporting and tracking technology.
Become an Affiliate for Large Brands
Remember, affiliate marketing can benefit every type of business, from startups to established companies, and you can take advantage of it from both sides, as an advertiser and as an affiliate.
Also, don't forget that some of the biggest and most popular websites, such as eBay and Amazon, run affiliate programs as well, so you can even make some extra cash for your business by working on the other side of the affiliate marketing spectrum by listing relevant Amazon or eBay products on your website.
Make Sure It's Working by Measuring Progress
In order to be really sure that your efforts at making B2B performance marketing work for you are paying off, you have to measure the progress, and you can start by using your own website analytics program. By checking these analytics, including when the highest number of people visit your site and what pages they are frequenting, you can tweak your B2B performance marketing plan, as needed.
In addition to your website's analytics, you can also measure progress by analyzing how your inbound links are performing, as well as checking on social media analytics and page rank. The best way, though, is to check your return on investment by looking at your bottom line. How much money have you actually generated from your B2B performance marketing plan, and did you meet your goals?
With the above information, tips, and strategies in mind, you can really make performance marketing work for you, even if you are operating in a B2B niche. Experts like John Lemp have been able to do very well with this type of marketing, and so can you.