From the recession in Europe, to the Ukraine-Russia’s battle, the ongoing economic and socio-political forces continue to have an impact on costs across industries throughout the globe. And hence, it but obvious that advertisers too have become cautious in spending or whatever amount they are spending on marketing is being done with an aim to drive conversions or sales, directly or indirectly. Perhaps this is the reason why performance marketing has picked up more than ever, this year and continous to grow.
Performance Pressure! Why Performance Marketing Is Advertisers’ Favourite New Toy
“Performance Marketing takes a business view of marketing. It is where we basically look at what is the immediate Return-on-Investment (RoI) and cost of customer acquisition (CAC). Largely the focus of this channel is to expose the right information about the brand and its relevant products at the right time to already interested customers,” Arif Ehsan, AVP – head of Digital Marketing and Loyalty, Jubilant FoodWorks, told BrandWagon Online
Performance Pressure! Why Performance Marketing Is Advertisers’ Favourite New Toy
In the world of performance
Performance Pressure! Why Performance Marketing Is Advertisers’ Favourite New Toy
According to GroupM’ latest report on the advertising expenditure forecast for 2023, ‘This Year Next Year India is in the the eighth position globally interms of ad spend. The Indian advertising expenditure will reach Rs 20,000 crores of incremental ad spend in 2023 compared to 2022. The report also highlights a 15.5% increase in ad spend in India, reaching Rs 1,46,450 crore in 2023.
Performance Pressure! Why Performance Marketing Is Advertisers’ Favourite New Toy
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Performance Pressure! Why Performance Marketing Is Advertisers’ Favourite New Toy
(Source: Statista)
Performance Pressure! Why Performance Marketing Is Advertisers’ Favourite New Toy
While Google and Meta continue to grab a large part of the performace marketing pie, as these platforms together account for about 70-80% of digital ad-spends, smaller players too have joined the game. Not to mention Google also runs a performace…
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