As the consumers become savvier, the marketers have to do likewise. Dan Cohen, the North West market unit leader for affiliate marketers Tradedoubler, has revealed ten predictions for performance marketing in 2013.
These include the prevalence of mobile in performance marketing, companies making consumers their social media ambassadors and noting how performance marketing will become more vital as marketing budgets feel the pinch.
Find out the 10 predictions from Cohen below:
- Mobile performance marketing will go mainstream – according to Cohen, 2013 will see mobile performance marketing really take off, in ways such as mobile price comparison sites, location-based discounts and the in-app market.
- Personalisation will gain prominence – make your advertising campaign personal to the consumer and you’ll succeed; “those brands that don’t adopt this will be left behind”, warns Cohen.
- Programmes that aren’t multi-channel and multi-touch will fail – this trend will continue throughout 2013, as consumers prefer to research companies through multiple channels and devices.
- Social media will drive peer-to-peer marketing – Cohen believes in 2013 companies will look to give responsibility to the consumer, making them ambassadors for a product. “To protect brand reputation, any such move should be handled and presented with absolute transparency,” he notes.
- Data privacy, security and regulation remains key – in terms of performance marketing, this means making sure affiliate partners are reputable and ensuring networks have necessary safeguards in place.
- Success will come from brand reputation and loyalty – consumers need an emotional connection with their favourite brands. “A well established affiliate network can really help here,” says Cohen.
- Performance marketing will gain traction as budgets dwindle – with marketing budgets getting squeezed further each year, the metrics of performance marketing, in terms of ‘cost per action’ and ‘cost per lead’ will make it clear to marketers where their money’s being spent best and will become increasingly vital in 2013, argues Cohen.
- Consumers want simplicity, speed and security – and as a result of this marketers need to make sure this is mapped out in their choice of affiliate partners and online performance marketing advertising.
- Technology will be the foundation for success – perhaps a self-evident statement, but again as consumers become more marketing-savvy, use of tracking and analytics technology will need to be utilised to give performance marketers an edge in sales success.
- Data, data, data – as per the previous point, analytics leads to lots of data, and the challenge remains to utilise it to best effect. “Marketing professionals must find ways of capturing this data and turning it into valuable customer insight. This insight should underpin performance marketing campaigns into 2013 and beyond”, says Cohen.
MarketingTech spoke to performance marketers Performics earlier this month, gleaning information from CEO Daina Middleton and SVP strategy and analytics Matt Miller about how a performance marketing company can stay one step ahead of the game.
Which predictions do you agree with, and which ones do you think will be wide of the mark?