We have all heard time and again that digital marketing is a blessing for businesses. The fact that it is quick and reaps exceptional results in a short span of time is extremely enticing.
Of course, traditional marketing also helps tremendously, but it is in evaluation and data that digital marketing takes the game away. With TVCs, hoardings, and paper ads, we are never sure what’s working. We are never sure from where the lead is coming. Thus, we are only left to guess which campaign worked and which medium reaped results. It is entirely different with digital marketing. Just about every penny is accounted for!
Now, it would be unfair and almost disrespectful to not use such an amazing resource to our advantage. Since we can calculate the ROI for our ad campaigns, it is only logical that we work towards increasing ROI at every step. Let’s take a look at how we can do that:
Do justice to social media
There’s so much that social media has to offer to businesses, but we barely do justice to it!
You can start by conducting thorough research about each social platform and finalizing those, which will suit your business. Use surveys, talk to customers, analyze your data, and then come to a conclusion based on age, gender, and other demographics. After that, analyze which platform(s) your target audience is most active on.
Also, remember that you shouldn’t measure your success on social media by the number of likes and/or shares. Your key performance indicators (KPIs) should be the amount and type of traffic you got, the number of quality leads you generated from your lead forms, the amount of money each campaign is generating, and so on.
All social media platforms give you in-depth insights. You only need to use them to increase ROI!
Content bells, content bells all the way
High-quality text (copy), images, and videos come under this category.
Focus on the relevancy of the content rather than the flashiness. Every piece of content you upload on social media should connect with your audience. More importantly, it should address at least one pain point of your customers.
Of course, aesthetics must be there but just enough to attract attention. Being too jazzy or trying too hard with bright colors or images can ruin it for you regardless of how amazing your copy or concept may be.
Focus on paid search
A few years ago, paid search only got 30% importance from Google but it has increased now and is almost 50%.
Thus, it is very important that you make Google paid search a major part of your digital marketing strategy. Choose relevant keywords or search terms based on your research and past data. Keep optimizing your campaigns regularly and ensure that your Quality Score is always good. Google provides a number of support videos to help you increase your Score.
It is also paramount that you collect data and start retargeting interested users with attractive display ads on Google. The success rate of retargeting to increase ROI is usually impressive when done right.
Data! Data! More data!
We live in the era of Big Data, and it is almost a crime not to collect all the data we can!
Predictive analysis and optimization is the difference between unsuccessful and successful online campaigns. As aforementioned, online advertising beats traditional marketing in that it gives analytics. What’s the point if we don’t use the data then?
Understanding where the leads are coming from, which ads are performing better, who is clicking on ads, and what the buyer persona is will help you strategize better and come up with optimized campaigns.
Make it a part of the process to evaluate results
Results should never mark the end of a campaign. Evaluation of the results is a must.
Create a report at the end of each campaign, putting down everything that worked, everything that didn’t, how much money was spent, the ROI, et cetera. This data is powerful and will help allocate budgets prudently while enabling you to make smart decisions.
These are a few simple yet very useful steps that you can take to increase your ROI online. Would you like to add to the list? Please feel free to comment!
Sources: Economic times