Screenage: Industry experts discuss how brands can optimise through performance marketing
At the e4m Screenage mobile marketing conference, experts say performance marketing campaigns should go through 3 phases- brand recognition, monetisation & re-targeting the brand
The e4m Screenage mobile marketing conference 2019 saw several digital marketing experts sharing how an advertiser can leverage from the mobile platform. The Theme of this year was ‘THUMBONOMICS: Marketing to Billion Connected Consumers’. The second-panel discussion saw esteemed panellists speaking on the topic: 'Optimising Performance Marketing in a Challenging Advertising Ecosystem'.
The Session Chair for the second-panel discussion was Rahul Mishra, Head of Marketing & Comms, Shemaroo, and the panel comprised Ashish Pratap Singh, Head of Digital Marketing- Ixigo, Varun Kumar, Chief Marketing Officer & Head of Growth, ZoomCar, Jayraj Jadhav, Vice President, Head Marketing & Digital Business, TATA AIG, Bhargavi Sridharan, Head of e-Commerce Ecosystem ICICI Bank and Sarada Prasad, Vice President- Performance Marketing, Ventes Avenues.
Performance Marketing has been present before digital marketing, in every place. There is a KPI dollar attached to every dollar spent. In the traditional form, advertisers would pay a huge amount of dollars but that won’t be linked to any performance, but would be linked to certain brand growth. It was for a funnel to create and generate revenue for the company. That would mean spending time in the short-term without having any conversions as well. With Performance Marketing, advertisers can pay only for conversion. Conversion for an advertiser can lead to actual sales, you only have to pay for that particular metric. It has become measurable with the technology available.
But are brands focusing on performance Marketing with the hope that it will generate brand love? Talking about Performance Marketing Kumar stated, “Marketing has changed so much in the last 5 years and the root cause is that earlier business were brand-centric, it was outbound. In that sense somethings were measurable and some were not. Now, businesses are consumer-centric and everything is measurable. We have to cash in on the consumers wherever they are.”
Talking about Ixigo’s journey in Performance Marketing and their performance marketing campaigns, Singh remarked, “In performance the main keyword is attribution. If we attribute every penny spent on marketing on performance metrics, that is the crux of performance marketing. We have built a brand- ixigo- on Performance Marketing and what we feel is if you do the product and marketing right; if you keep pushing your brand values to the consumer, then you can definitely build your brand on performance marketing.”
Sinha shared that sales conversion efficiency is the key to measure the success of marketing.
From an agency perspective, Prasad stated, “When it comes to performance campaigns, we work in phases. The first phase is giving brand recognition, then monetizing it and then retargeting the brand.”
Talking about influencers and how they help brands leverage, Kumar said, “ZoomCar gets user-generated content organically on Instagram; We have seen a rise of micro-influencers.”
Even Singh said that his brand takes micro-influencers very seriously. “The role of micro-influencers is getting stronger with the emerging social channels like TikTok”, remarked Singh.
Signing off Jadhav, stated, “Apart from acquiring customers through performance marketing, you also need to streamline customer journeys to get the right ROI metrics cracked.”
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