August 5, 2017
When you put money into your marketing department, you’re gambling on the hope that your campaign will produce a notable increase in traffic and sales. If it doesn’t, it’s a waste of money. The efficiency of your marketing return on investment is determined by whether you’re spending wisely in your business. Don’t throw good money after bad. If your marketing campaigns aren’t generating the attention you need, then think about tweaking your strategy.
Channeling advertisement in the modern era, particularly with the rise of the digital age and smartphones, has changed the nature of marketing quite a bit. If you haven’t taken the time to keep up with customer trends and interests, your campaign may be a huge waste of money with no benefit to your business whatsoever. Instead, do some research into what modern marketing campaigns look like, including and especially digital campaigns, to determine what works and what doesn't. Here are six strategies to boost your marketing ROI:
Use Multiple Ad Networks
Google and Facebook are certainly both big players in the field of digital ad networks – Google holds 82 percent of the market share – but they are far from the only ones. If you think your business needs to reach more eyes, look into other ad networks to advertise with, which increase how widespread your ads are and who sees them.
Customers seeing the same ad multiple times on Google may learn to block your content out, but if they see it across a variety of websites, it will be easier to remember, and can instill brand recognition in audiences.
Split Test Ads to Find Out What Works
Don’t underestimate the power of testing customer response to your ads. The digital market makes advertisement testing incredibly easy. You can specify a particular audience, a particular region or a particular demographic and put out variations on similar ads to figure out which customers respond to best.
Companies are often tempted to assume, based on previous market research, which ads a customer might best respond to. But the best way to really find out what customers like is to show them your ad variations and see which ones generate more attention.
Identify Your Audience
Whether you’re trying to design multiple ad campaigns or want to appeal to customers more personally, figuring out the varying demographic groups in your customer base can help you generate marketing content with a far better ROI.
When you break down customers by gender, race, geographic area, age and interests, you can figure out what groups of people are interested in about your business, and make content that has a smaller audience. This lets you be more regionally or demographically specific, making customers feel like you really care about, and are tapping into, a niche audience. This gives customers a positive impression of your company, as well as makes advertisements that appeal to interests that might specifically pique their attention.
Incorporate Automation Into Your Strategy
Thanks to advancements in artificial intelligence and data analysis, more and more tasks can be automated, including identifying market audiences, generating and sending out basic marketing content and connecting the dots with customer information. By automating tasks in the marketing process, you increase efficiency and decrease the amount you have to spend on labor.
Get Onboard with Mobile
Today, 77 percent of Americans own a smartphone, and roughly 70 percent are on social media, according to Pew Research Center. This means that if your business isn’t able to accommodate smartphone browsing or shopping, you’re missing out on a major market for a significant portion of their available time.
People prefer to find information online, including answers to their question, company contact information, company social media sites where someone can be contacted publicly, and a website with a list of products or services they can browse, navigate, and order from. You need all these features to appeal to the modern audience. Make sure you have social media set up, and test your website for mobile compatibility.
Use Creative Copy
Standard texts just aren’t cutting it. Customers are inundated with marketing copy daily, which means phrases like “major sale,” “free bonus with purchase” and “visit our store” are almost blank space to the average person. Instead, use strong copy that grabs a customer’s attention by being original. Rather than offering a sale, use a creative story or attention-grabbing headline. Use phrases that command your customer take an action, which makes them feel motivated and directed.
How efficient your marketing campaign is depends on whether you’ve tapped into modern marketing strategies. If you learn how to accommodate the digital age, your return on investments can boost your sales while increasing your savings, helping your company’s bottom line significantly. Keep money in your coffers and grow your customer base by updating and improving your marketing tactics.
Read more about improving your marketing strategy on TechCo
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