In today’s day and age, marketing is an essential aspect of any successful business, big or small, and it’s not enough to simply create a marketing campaign and hope for the best. With the increasing competitiveness of the digital landscape, it’s important to adopt a marketing approach that is both cost-effective and offers results.
A great example of this is the Pay on Results marketing model. This form of marketing only charges for successful conversions, which is the marketing equivalent of putting your money where your mouth is.
What is Pay on Results Marketing?
Pay On Results (POR) marketing is a performance-based model that charges a business only when a customer or client completes a desired action. This could be anything, from a purchase to filling out a form, or any other defined conversion that has been agreed upon between the business and the marketing agency beforehand.
In essence, POR marketing turns advertising expenses into revenue-generating opportunities, as businesses only pay for results, not clicks or impressions.
There are three common forms of POR marketing:
- Pay Per Lead – this is when you pay per each lead received.
- Commission Based – this is when you earn a percentage of a sale. This is generally limited to partnerships where each party has ownership in the company due to the complexities of commission based marketing.
- Results Focused Marketing – rather than simply sending leads or acting like a salesperson, results focused marketing uses a focused strategy to generate more sales in a business. This focuses on a set goal and builds the company to a point where reaching such goals are consistent.
What is the best option for your business?
If your focus is on long term growth, then results focused marketing is generally the best option. Rather than focusing on a quick fix like buying leads from a lead site or hiring a commission based sales person, results focused marketing focuses on both the short term (i.e. qualified leads coming almost immediately) and long term by creating a system that predictably generates qualified leads that turn into sales.
Think of it this way, if you’re looking to open up a new branch or team in a new area, you have a proven and predictable strategy to quickly generate leads to support this new arm of the business.
Benefits of Results Based Marketing
There are a number of benefits of the results focused marketing form of pay on results marketing. These include:
It’s Cost-Effective
By cutting out all the fluff and pretty pictures and focusing on lean strategies that produce actual results in both the short and long term, your business benefits from a lower cost structure than generally experienced by a full suite marketing agency.
This gives you a better return on investment (ROI), meaning more profits!
It’s FAST!
Traditional marketing generally looks at a 3-6 month timeline to see real, tangible results. Whereas results focused marketing produces results within days! This means you get a much faster return on investment.
Predictable
A properly built lead generation system will be able to deliver leads to you in a predictable way. No wondering how many enquiries you’ll get in each week, and much more peace of mind knowing what to expect. This peace of mind allows for easier growth and scaling for you as the business owner.
It’s All about results
A lot of marketing agencies out there will promise you a lot of likes and pretty pictures, but very few actually have any incentive to get you more clients, they don’t have any “skin in the game” as we like to say.
At BRBD, we believe in results over everything. Sure, you need to have a good-looking brand, but if that’s the main focus, where are your clients coming from?
If you’d like to build peace of mind and predictability FAST, then fill in the form below: