What is performance marketing and what are the first steps for companies? Part II
For companies, performance marketing is an important tool for achieving marketing goals and it is impossible to imagine today's advertising landscape without it. In part two of our last practical tip, we reveal how performance marketing can support your market entry strategy.
How important is performance marketing for entering new markets?
Performance marketing offers a good opportunity to find the right customers for a product or a solution to a problem. Through performance marketing measures, companies can also buy sustainable traffic for the time being and then build on it. Especially if the competition is already advertising online, it will be difficult to enter the market without your own online marketing measures. If a competitor has a good ranking through a site that has been well optimized over the years and thus intercepts the desired traffic, traffic can be gradually built up with the help of traffic purchasing through SEA, such as via Google Ads, and in a further step a customer base.
What opportunities does performance marketing offer foreign companies that want to enter the German market?
Performance marketing allows foreign companies to target precisely the target group, including linguistically and geographically, that represents the potential customer. For example, through targeted display advertising to those interested in furniture, kitchen furniture and kitchens, the potential customers can be reached and picked up. Through remarketing, former visitors to the website can be targeted in the follow-up.
Aggressive marketing offers another option: with the help of a competitor analysis, it is possible to bid specifically on keywords of the competition and thus redirect potential customers to the company's own website.
What are the requirements for foreign companies in Germany?
A German-language website or a German online store should be available. Other important requirements are patience, understanding, analytical skills and budget.
How much money do I have to invest to achieve success via performance marketing?
There is no general answer to this question. The budget varies greatly, as it depends on the goal: What is my target cost-to-sales ratio? What is the maximum I can spend? How high can the cost per lead be? Can I scale my budget with success? After defining the target, experts can give an initial estimate that can be adjusted up or down over time. It is definitely a growing process. The longer a campaign runs, the more accurately marketing efforts can be adjusted and implemented. Even smaller budgets can lead to great success with the right tools.
Want to get started with performance marketing? These are the steps:
- set your measurable goals and align your marketing measures, controlling and optimization strategies with these goals.
- be patient: not all goals can be achieved in a short time. A sophisticated marketing strategy is a continuous process that achieves long-term success.
- Don't know how to get started or want to put your current performance to the test? Then contact us at firstname.lastname@example.org with Performance Marketing in the subject line for a free, no-obligation initial consultation.