What is Performance Social Media Marketing?
Performance Social Media Marketing is essentially paid social that is optimized for a desired outcome. It allows a business to run campaigns that are not only strategic, but also heavily focused on return on investment (ROI). When considering objectives for Paid Social campaigns, brands are typically optimizing for likes, engagements, landing page views, app installs and purchases.
While digital marketing is a form of advertising that uses online channels, Performance Social Media Marketing is a type of digital marketing that utilizes paid advertising on Social Media. With Performance Social Media Marketing, you only pay when the desired outcome occurs.
For example, when a business runs a Facebook campaign with the objective of driving Catalog Sales, they’re ultimately running a Performance Social Media Marketing campaign.
What is the Main Benefit of Paid Social?
Performance Social Media Marketing utilizes detailed reporting that allows a marketer to track performance and make real-time adjustments to campaigns based on the desired outcome. In doing so, this allows the marketer to limit the amount of risk associated with marketing spend.
What Are Some Things to Consider When Utilizing Performance Social Media Marketing?
- Vanity Metrics
- When measuring the success of a campaign, it is easy to get caught up in metrics such as impressions and clicks. However, when considering the overall goal of performance campaigns, these metrics hold little weight in determining the overall success. A strong performance campaign should always look at key performance indicators (KPIs) when evaluating the success.
- Key Performance Indicators (KPIs)
- When conceptualizing a campaign, it is crucial to determine which metrics you want to optimize for and how you are going to measure success. A campaign should always have a primary and a secondary KPI, and these metrics should not be what we would consider vanity metrics.
- Examples of metrics to use as KPIs are: Purchases, Purchase Conversion Value, Return on Investment (ROI), Landing Page Views, and Link Click Through Rate (LCTR).
- The most important tool a marketer has when utilizing Performance Social Media Marketing is the campaign data. When setting up a campaign, you must ensure your data is trackable, ideally through multiple sources.
- An example of a properly set up campaign with the ability to track would be a Facebook campaign with UTMs added. This will allow you to compare and contrast data from Facebook and Google when making decisions on what to optimize.
- A/B Test
- A key component of successful Performance Social Media Marketing is constant testing. Putting a clear testing plan in place to compare areas such as creative, copy, audiences and placements, is critical to ensure your campaigns are performing to the best of their ability.
Is Performance Social Media Marketing a Good Fit for Your Brand?
If your brand is looking to improve its advertising efforts and drive more qualified leads, Performance Social Media Marketing may be for you! Get in touch at firstname.lastname@example.org.
Written By: Tara Killmer, Paid Account Supervisor