Today, businesses need to be where their customers are- online! Every business is leveraging new-age marketing strategies to put its best foot forward to enhance its presence on all digital platforms. While some businesses quickly switched from traditional to modern marketing, others were sceptical. But the pandemic compelled businesses that weren’t online or weren’t on top of their marketing game to get active.
Every business today falls in the category above, and it is easy for them to decide where they are standing now. But many aren’t clear about the next step they need to take to outshine the competition. One bottleneck is deciding whether to go with digital or performance marketing. In this blog, we’ll discuss these two marketing strategies in detail and help you decide which is the more profitable way for you.
The subtle difference between performance and digital marketing
The lines between marketing and advertising have become increasingly blurred in today’s digital world. As a result, the terms “digital marketing” and “performance marketing” have become interchangeable. Many business leaders misunderstand these new-age marketing strategies, which results in failed marketing campaigns. Hence, it is crucial to understand what they mean and how they differ.
Let’s start with understanding the definition of performance and digital marketing.
What is Performance Marketing?
Performance marketing or digital performance marketing is any form of online advertising that relies on performance metrics for success. In other words, performance marketers pay when customers click or view their ads. This form of marketing can include search engine ads, banner ads, social media ads and more.
What is Digital Marketing?
Digital marketing is any online or mobile marketing that uses technology to reach consumers directly. This form of marketing includes email campaigns, website development and mobile apps, among other things.
Digital Marketing Vs Performance Marketing
Based on media
The main difference between performance and digital marketing is the channels used to reach your audience. Performance marketing focuses on paid ads, while digital marketing also targets potential customers through organic means like search engine optimization (SEO) and social media engagement.
Based on businesses
Performance marketing is for businesses that want to build a brand and engage their target audience. Digital marketing is for businesses that have a product and need to sell it by helping their target audience find it.
Based on objective
Performance marketers aim to drive traffic to their websites so they can convert this traffic into leads or sales. On the other hand, digital marketing is used to target customers on the internet to increase their sales and profits.
Based on the focus area
Performance marketing focuses on delivering measurable results for advertisers through cost-per-action (CPA) or cost-per-click (CPC) models. These conversions may be leads for sales, signups for newsletters or subscriptions, purchases, and other actions or events. Digital marketing focuses on increasing revenue and generating profits. This involves combining SEO efforts and PPC ads that aid in identifying and attracting potential clients.
Based on channels
Performance marketing channels include social media advertising, display advertising, search engine marketing, and mobile advertising. Digital marketing uses digital channels to reach and engage with customers. These channels include websites, social media, mobile devices, video, email and other online communication channels. It also provides marketing on social media.
Interested: Performance Marketing Agency: A Beginner’s Guide
In the end, it is essential to make a sound decision based on your marketing strategy. Connecting with a marketing agency will help you decide better and improve marketing performance.
Amura, a leading performance marketing agency could be your partner in making the best out of the marketing strategy you choose for your business. Through its data-driven MarTech solutions and full-funnel marketing approach, experts at Amura ensure that your brand gets a digital edge.
With over 15 years of experience, an on-time delivery record, extensive market understanding, agile processes, and a team of 150+ digital experts, Amura is well-equipped to help you choose the best way to market or advertise your business to your target audience. Get in touch with Amura Marketing Technologies today!