Wednesday, November 11, 2009

Performance Pays When It Comes to Business

When it comes to some business activities, the conventional method of paying first and measuring performance last is changing. In the advertising industry, for instance, it's no longer meaningful to simply role out a large advertising campaign without first knowing what the return on the investment will be.

With traditional types of online advertising, like pay-per-click, a campaign is rolled out even before you know if it will generate any sales. Unless you have money to spare (a rare condition in this recession) or business loans for this purpose, you can end up shelling out money that never returns a direct benefit in proportion to what you spent. Take a cue from modern methods and choose strategies that will lower the risk of loss and increase performance from the get go.

Cost-Per-Action Advertising

New affiliate networks call cost-per-action networks seek to reduce the risk and increase advertising performance for its advertisers by generating sales leads from advertising activities. These can later be mined for email marketing campaigns, increasing the performance of your advertising dollars by generating a valid email of a prospective customer. Now, instead of spending a few cents for each click and generating thousands in advertising costs with little to show for it, you can spend a few hundreds and get a valid sales information that helps you market people every time an action is taken. If the action requested is never completed, you don't have to pay for the publishing of your link. You only pay for performance on that link.

cost-per-action networks seek to reduce the risk and increase advertising performance

Hiring High Performance Individuals

Another way that businesses have be lowering the cost of hiring and increasing performance is to hire on a part-time or temporary basis. With the labor pool filled with qualified applicants, hiring people on a short-term basis can be a great way for business owners to try out candidates to see if they will work out. If they don't, then they can just end the relationship at the end of the contract period and start again with a new face. This keeps performance high and lowers costs of employee staffing.

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