Performance marketing is creating new opportunities for marketers who want to optimize existing tactics, such as paid search, social, and advertising. However, new research shows that there are still numerous challenges in the way for those looking to leverage this methodology.
Ascend2 recently published “The State of Performance Marketing Survey,” and statistics showed that when it comes to performance marketing, creating a comprehensive strategy (48%) is still the greatest challenge to success. This is followed by budget allocation (45%), data management/silos (37%) and integration with the customer journey (36%).
In general, just 44% of all marketers have been “somewhat successful” at achieving their performance marketing goals; about 54% of the best-in-class marketers said the same.
Social media marketing (69%) has proven to be the most effective channel for performance marketing campaigns thus far.
Social Media Marketing and Its Primary Benefits
Previous research suggests that social media channels are beneficial to marketers looking to forge connections, new and old. This may explain why more B2B marketers, in particular, are turning to platforms, such as Facebook.
Social Media Examiner conducted its “2020 Social Media Marketing Industry Report,” and data showed that 91% of B2B marketers now use Facebook to link with customers and prospects. This was followed by LinkedIn (81%), Instagram (71%) and Twitter (59%).
Several benefits were associated with social media usage among marketers, including increased exposure (86%), increased traffic (78%) and generated leads (67%).