How to Begin with Performance Marketing Strategy for Your Construction Business?

Today, digital marketing is becoming the way of life. It essentially becomes the backbone of every company’s success. Everything started when the Internet was born, and over the span of years, it completely changed the way things are. People find search engines a reliable way to find information and look for products. Businesses and companies can market and sell their products/services more effectively because of accessible online platforms.

As a construction business owner, you now have an immense capability to design a compelling campaign because of Internet and measure the results as they happen 24/7. In addition, many emerging strategies for digital marketing will ultimately allow you to tailor your approach based on your target audience’s preferences, and marketing objectives. This approach has led directly to the rise of a booming strategy called performance marketing.

In this blog, discover what performance marketing is and its many benefits. We will also discuss the critical steps you need to take in order to achieve a successful performance marketing strategy for your construction business.

What is Performance Marketing?

Performance marketing is a digital marketing type in which brands only pay after they meet their goals and objectives or when specific actions are taken, like a click, lead, or sale. In other words, this type of marketing strategy is performance-based.

Unlike organic or traditional marketing, performance marketing is particularly used to drive actions, measure and track these actions, and attribute the ROI of every marketing activity, campaign, or asset.

In other words, performance marketing is an online marketing strategy that is driven by results.

Many Benefits of a Performance Marketing Strategy

In this section, we go over the numerous benefits you can reap from simply investing in a performance marketing campaign.

Pay for performance: With performance marketing, you will only pay for successful transactions, which might include sales, leads, or clicks. As a result, it reduces your overall marketing expenses and will potentially boost your ROI.
Real-time tracking: You can achieve real-time tracking with performance marketing. You can easily monitor and optimize all your campaigns in real time, creating necessary adjustments to boost your performance.
Brand awareness: Even when a user cannot complete the desired action, performance marketing can still increase your brand visibility and exposure.
Highly-targeted: Another beneficial thing about performance marketing is that it is highly targeted. This means you can reach specific audiences based on their main interests, location, demographics, and behavior. Therefore increasing the overall effectiveness.
Transparent ROI: Since every single action is tracked, your construction business can then easily calculate its ROI and assess the effectiveness of its campaigns.
Wide reach: In performance marketing, your business can reach a wider audience and potential construction clients across different platforms, whether in social media, email, search engines, and mobile applications.
Low risks: Since payment is only made for completed actions, the risks are lower compared to traditional marketing strategies, wherein payment is made regardless of the results or outcome.
Scalability: The best thing about performance marketing is you can scale it up or down, allowing you to manage your marketing efforts based on your company’s budget and needs.

How to Establish a Successful Performance Marketing Strategy?

Use the following tips below and make them your guide to get your performance marketing campaign run towards success, making your construction business thrive in 2024 and beyond:

1. Build your campaign goal

Before you can calculate or measure the success of any of your campaigns, it is crucial to build your campaign goals first. Whether you want to generate more leads or boost your brand visibility, setting the right goals prior to launch is the main basis of performance marketing.

Here is a list of some of the most common digital marketing goals you can set:

Website Traffic
Remarketing or retargeting
Lead acquisition
Engagement
Sales

Once you already have set your campaign goals, you can then proceed to create campaigns that target these specific goals.

2. Decide on your campaign message

Let’s assume you already set your campaign goals. Since everything is already defined, you will craft your campaign message next. A clear campaign message is one pillar of success for your performance marketing campaign. When you clearly define your message, you can better resonate with your target audience.

Make sure to include CTAs or Calls to action for your campaign message. They are powerful and can effectively entice people to take action.

3. Plan your brand positioning

Brand positioning is simply how you want your audience to see your construction brand. Once you have created your campaign message, the next thing you will do is figure out how you are going to position your brand. This is the part where you may emphasize your pricing, service skills, industry expertise, or anything else your construction company offers.

Brand positioning is a vital part of your performance marketing strategy. It will help you define your messaging and differentiate your brand from its closest competitors. It also helps you choose an audience to target.

4. Know your channel mix

Regardless of the goals you set, always take a multichannel approach to your performance marketing. People are everywhere online, and your target audience will gather in multiple channels. So, do not limit yourself to one channel only.

Prioritize 2-3 core channels rather than spreading thin efforts across too many options. You may consider both lower funnel (PPC), mid-funnel (social media), and upper-funnel (videos).

5. Create Performance Targets

Key performance indicators, or KPIs, are measurable metrics you have to track in order to determine whether or not your campaign is successful. By constantly monitoring your these KPIS, you also optimize the areas that need improvement.

Below are some of the most important KPIs you need to measure under performance marketing:

ROI (Return on Investment): The total revenue generated divided by the costs of your campaign is called the ROI. This metric determines the final profitability and gives you insights into whether scaling your campaign is feasible.
Conversion rate: The conversion rate refers to the percentage of web visitors who have taken the desired action. These actions can be free trial signups, white paper downloads, email address capture, or any other revenue-generating action. Boosting your conversion rate can help increase revenue without additional traffic.
CPA (Cost per acquisition): CPA measures the average amount spent required to drive a single conversion. This metric usually refers to the cost per customer or cost per sale.
CPC (Cost per click): CPC refers to the average cost to drive a click from a particular ad to your website or landing page and is measured by taking the total campaign spend divided by total clicks.
CTR (Clickthrough rate): This metric is the percentage of impressions directly resulting in a click. In many cases, high-performing ads will have high CTRs. CTR can indicate that your messaging, targeting, and creativity resonate with the audience.
CPM (Cost per thousand impressions): This metric measures how much you pay for each thousand impressions of your ads. CPM is a very common performance indicator, especially for awareness-focused campaigns.

Analyzing performance data using the KPIs above will deliver many opportunities for optimization and to improve your return from every marketing channel you use. These metrics will ultimately help you achieve a successful performance marketing campaign and more.

6. Create and launch your campaign

When you have set a performance marketing campaign based on your main goals, a target audience, the right marketing channel mix, and the right metrics, you are somehow ready to launch!

This is where you prepare your most creative content like infographics, videos, and copies, and then tailor it to your chosen marketing channels. This part of your performance marketing campaign will inspire people to take the desired action. Pairing the best creative elements with the right channel will ultimately improve your chances of success.

Let’s just say you already launched the campaign successfully. The next thing you will do is to continuously measure and optimize it the whole time, which is discussed above.

7. Measure and optimize your campaign on a regular basis

Tracking your key metrics or KPIs will be one of the things to focus on after launching your campaign. This is the part where you can spot underperforming ads that immediately require a solution. For best results, you can conduct A/B testing, creating versions of this ad and testing them against each other. This strategy can help refine your messaging or even change your target audiences if necessary.

A/B testing should not be overlooked but prioritized, as it will help refine some areas of your campaign that are underperforming.

ConstructionMarketing.io Offers the Best Marketing Solutions

Having a comprehensive performance marketing strategy is vital for your construction brand, which aims to drive business growth and maximize marketing ROI this 2024. So, make sure to jump into performance marketing right now and begin assembling your campaign.

You may want help from the experts! Our construction marketing company is ever-ready!

We are ConstructionMarketing.io, a leading and trusted agency partner that offers full-packed online marketing solutions tailored to your business needs.

With our team’s expertise, we can help you create a performance marketing campaign targeted only for a specific audience. Whatever your goals are, we do not only have the expertise but also the newest tools to help you achieve them. We will constantly update you and create reports detailing conversions, impressions, verified site visits, and more.

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Contact us today, and let’s start assembling your campaigns for 2024!