It’s Time To Hold Performance Marketing to a New Standard
Below is a contributed guest post from Ryan Donohue, Senior Product Manager at Mavrck and Pernix board member.
Traditional advertising is becoming wayside to newer, more favorable models like performance marketing. Conceptually, only paying for successful conversions creates a win-win situation for both marketers and affiliates. But when you take a hard look at the current performance marketing platforms in place, the reality is that the way that it’s always been done isn’t good enough anymore.
Performance Marketing Has a Trust Problem
Similar to how Fyre Festival created a lack of trust and gave influencer marketing a bad name, the influx of attribution models churning out misaligned data is clouding the performance marketing space and creating a system of distrust.
There used to be a time where people narrowly trusted technology. But thanks to scandals like Cambridge Analytica, fears that Alexa is listening to our every word and recent data breaches, it’s more apparent that technology can be turned into a potential enemy, and it’s creating a rightful lack of trust. In performance marketing, affiliate and partnership platforms run algorithms that most people don’t understand. This creates a layer of abstraction where data points are left to interpretation and marketers are left unable to understand the ROI of their partnership programs.
If you have enough data points and smart people, you can twist it to support any story you want, and some industry players use this to their advantage to sugarcoat marketing results. But customers are getting smarter, tools are becoming more user-friendly and people can see through false information. With an industry issue of inflating data and a growing amount of customer skepticism, it’s not enough to simply trust abstract conclusions drawn from attribution data. People need to see exactly how the conclusions are drawn.
It’s time that marketers re-evaluate their programs and move beyond siloed data and clouded attribution logic to models that promote partnership and strategy.
Out with the Old, in with the New
Pernix launched to redefine marketing attribution models and hold performance marketing to a new standard. Pernix does what other solutions can’t by pulling data from multiple attribution, analytics, partnership and affiliate platforms to align all performance and costs to the marketer’s source of attribution truth. It’s built on a system of transparency so that digital marketers gain greater visibility into the affiliate channel to finally deliver on the long awaited promise of the digital marketing landscape – a trackable return on investment.
It’s time that marketers re-evaluate their programs and move beyond siloed data and clouded attribution logic to models that promote partnership and strategy. The digital marketing industry has a trust problem, and Pernix breaks down these walls of distrust by truly putting the customer first and holding all partners accountable. This will change how marketers partner with third parties in the industry, and it will change how people think about performance marketing.
Pernix doesn’t only bring trust and transparency to the digital marketing ecosystem. It enables companies to increase their return on ad spend (ROAS). A popular global retailer of unique socks and underwear leveraged Penix to remove the discrepancy between what their network was tracking and what Google Analytics was reporting to align their spend. By excluding sales that were not truly last click by affiliates, the company saved approximately 15 percent revenue and saw a 135 percent increase in ROAS in Q4 2018. With an additional system in place to track and implement the stability of the brand’s Google Analytics, the company has more meaningful, reliable and actionable data for all marketing channels.
There are enough marketing platforms out there that claim to bring positive results. The key difference with Pernix is that you’re able to trust those results. Due to lack of trust and an influx of meaningless data, having an end result doesn’t matter as much as being able to show how you got to that result. Performance marketing needs a new standard, and Pernix is poised to redefine it.