Rapido bets big on performance marketing, launches its first commercial #LoveTheChase (2024)

FAQs

What is performance marketing with examples? ›

A combination of paid advertising and brand marketing, performance marketing refers to advertising programs in which affiliates and marketing companies are only paid when a desired action is completed, such as a completed lead, sale, booking or download.

Rapido's target audience is mainly commuters who travel in their day-to-day lives. Its main goal is to offer services to commuters who are preferring open and safe commute options in comparison to over-expensive cab rides.

Performance marketing platforms help you run marketing and advertising campaigns driven by results. And since your goals drive your performance marketing strategy, it becomes easy to track the achievement or lack thereof for any task.

Performance Marketing: The primary focus of Performance Marketing is achieving specific, measurable results, such as conversions and sales. It is geared towards immediate action and ROI. Digital Marketing: Digital Marketing, on the other hand, aims to build brand awareness and engage with the audience.

Performance marketing, however, more broadly aims to improve the performance of the company. Rather than paying the marketing agency only when a sale of a specific product is made, the retailer pays when the affiliate achieves a desired result, which is the target for that campaign.

Unlike traditional and organic marketing, performance marketing is specifically used to drive actions and track and measure those actions, all while attributing the ROI of each asset, campaign, or activity.

The company was founded in 2015 as theKarrier by two IIT alumni and a PESU alumni – Aravind Sanka, Pavan Guntupalli, and SR Rishikesh.

Founded in 2015, Rapido operates a mobile application-based two-wheeler taxi service in close to 100 cities in India. More than 1.5 million “captains” or riders operate taxis through the application—a number that has grown three- to four-fold year on year—while the business has grown to more than 1,500 employees.

Rapido – Revenue Model

In this commission-based model, the company generates revenue by charging a commission fee equal to 20% of the total fare for each ride. This approach ensures a steady income stream for Rapido while providing income opportunities for the Captains.

If your target audience is highly engaged and values certain traits such as authenticity (as do Gen Z), then a brand marketing approach may be more effective. On the other hand, if they are more focused on immediate tangible value propositions, then a performance marketing approach may be the worth prioritising.

Is performance marketing a good job? ›

In conclusion, performance marketing jobs offer a diverse and dynamic career path for individuals passionate about digital marketing. Furthermore, with the right skills and dedication, these roles can lead to significant professional growth and success.

This can include paying for a specific action like a purchase or a lead. In essence, while digital paid media marketing is more focused on creating brand awareness and generating traffic, performance marketing is more focused on generating measurable results and a positive return on investment (ROI).

When it comes to choosing between the two approaches, I've learned that it depends on our specific goals, budget, and target audience. Paid marketing is beneficial for a broad reach and quick impact, while performance marketing excels in cost-effectiveness and results-driven campaigns.

SEO involves keyword research, content creation, on-page optimization, link building, and technical optimization, among other things. Performance marketing, on the other hand, is a more immediate approach that focuses on driving targeted traffic to a website through paid advertising.

Brand marketing employs a long-term, emotional appeal to consumers, whereas performance marketing is specific and oriented toward more immediate goals like generating leads and driving sales.

While performance marketing is more about driving immediate results and measurable success, brand marketing focuses on building and nurturing the brand for long-term success. Both strategies are crucial and often work best in tandem, contributing to a holistic marketing approach.

Marketing performance is the alignment between the marketing team's stated goals and objects versus actual results. It is measured using a selection of metrics and key performance indicators (KPIs), including return on investment, cost per sale, cost per lead, conversion rate, and customer lifetime value.