OEMs will play a pivotal role in Performance Marketing!
When it comes to the ever-evolving digital advertising landscape, OEM being a new-age tech coupled with Performance Marketing has proven to be the technology that is persistently changing advertising practices.This is why OEM and Performance Marketing will be going to be the essential part of digital businesses which will also enhance and streamline campaign execution and operations in next coming years.
Our COO, Ramneek Chadha shares more insights on this trend and how companies can make the best of it
Why will performance marketing be so important in 2023?
- With the slowdown in the Global Economy, and the fear of Recession all around, the Brands & Marketers are focussing more towards the measurable, ROI Positive Marketing Mediums, to make the most of their Ad Spent.
- Digital Marketing on the whole is measurable and tends to be ROI positive over a period of time, Performance Marketing ensures the higher ROI from the Day 1 of the start of the campaign.
- Further, Performance Marketing is a full funnel approach, whereby the communication (in terms of Banners / Videos) is shown to the users, which acts as the ATL marketing, but the targeted approach of generating the conversions acts as the BTL marketing. Hence, this is going to be very important in 2023 and years to come.
What are some of the trends in performance marketing for 2023
As per the requests from Brands, and the Industry scenario all over, I expect following trends in 2023.
- As per the estimations, the Brands will cut down their ad spends on the Branding / Awareness campaigns and will move those spends to the Performance Marketing, for building profitable, scalable & long term marketing mediums.
- We are seeing that the users acquired for Brand’s mobile application tends to have higher ROAS & LTAV, as compared to the users using websites, so we are seeing more and more Brands launching & optimizing their Mobile Apps and promoting the Apps instead of the websites.
- OEMs will play a pivotal role in Performance Marketing in upcoming years, as they provide the premium, untapped inventory to the Brands, in terms of both Pre-Install & Post-Install marketing segments.
- With Google’s announcement of getting rid of third party cookies in 2023, focusing on Mobile Performance Marketing becomes all the more important.
How can companies best leverage these trends for improved outcome
- No two Brands or their goals are alike, and it becomes very important for the Agencies & Ad-Tech Platform to understand the Brand / Advertiser’s requirements & goals. It becomes even more important in drafting the Performance Marketing Media Plan, targeted towards the positive ROI & growth, while tackling the trends & industry’s outlook
- The best way for the companies to leverage the upcoming trends & opportunities in the Performance Marketing, is to work closely with the Agencies & Ad-Tech Platforms, and bifurcating their ad-spents into multiple buckets, which caters to both proven & trendy mediums, to maintain higher ROI, while experimenting.
Which industries/segments/brands will these strategies be most impactful for
- While these are a thumb rule strategy, which caters to all the industries looking to run Digital Marketing campaigns but it becomes even more important for the highly crowded & completely digital industries like eCommerce, Gaming, Education Technology, Finance Technology, Social Media Platforms etc.
- Further, considering the economic outlook of 2023, Non-Digital brands like FMCG, Automobiles, BFSI etc. can equally benefit from Digital Marketing Mediums (including Performance Marketing). They help not only with measurements & analytics of users being engaging with the Brands, but helps them in the conversions by blurring the lines between Online & Offline world.