Digital marketing strategies are the premiere way both small businesses and large ones alike are able to effectively reach existing and potential customers.
However, many of these strategies fail due to a lower than expected return on investment (ROI).
Here are 5 ways ROI can be substantially improved for any digital marketing plan.
Having a recognizable brand is one of the biggest keys to success for most business models. If people get accustomed to associating a product or service with a particular company, that’s going to dramatically increase revenue for that company.
The ROI of brand recognition is going to outpace many other optimization strategies because it’s simple and can be mentioned casually when people communicate, increasing a company’s exposure.
Email marketing is a very effective way to grab people’s attention in the internet age. Most everyday communication is now done purely through digital devices, rather than in person. This makes online marketing strategies vastly more effective than physical ones, such as billboards.
Email provides a direct way to contact people who might be interested in buying a product. In many ways, an individual’s email account acts as a substitute for face-to-face interaction. A well-executed email marketing strategy will increase a company’s customer base substantially.
However, properly conducting a strategy can be a difficult process. Successful strategies must target the right demographics, not be too invasive, be eye-catching, and avoid triggering algorithms that automatically place emails in people’s spam folders.
There are numerous services out there that help companies develop strategies that maximize effectiveness. They can assist in a variety of ways, but typically assist their clients in creating an email drip campaign.
It can be both tempting and confusing when dealing with all the numbers associated with digital marketing to focus on the wrong things.
There are a bunch of statistics that people frequently reference to gauge whether they’re becoming successful with their efforts. Stats like the number of visitors to a particular website or email open rates might seem like they’re useful, but ultimately they have very little to do with a company’s success.
Instead, the focus should be on whether a company is meeting its goals and then working on the aspects of a marketing campaign that help meet them. If your company’s marketing goal is to increase exposure, then the number of times an email is shared might be a good avenue to pursue. If its goal is to sell a certain number of products, then conversion rates would be most important.
It’s almost impossible to improve ROI without having access to proper analytics tools. Everything from starting your marketing campaign to modifying it will ultimately be determined by what the numbers say.
Analytics will reveal crucial information such as who visits a site, whether web pages are visited repeatedly, the bounce rate, the most frequently visited pages on a site, and the conversion rate of a particular product.
Google Analytics will provide a decent base for what you need to know, but there are a bunch of other tools that can give you vital info you need to know, including Clicktale and Altitude.
SEO, or search engine optimization, is the method by which web pages are ranked on search engines, like Google and Bing.
While it’s not entirely necessary to focus on SEO to run a successful campaign, the reality is that the information search engines display to users determines a lot about how web traffic is dispersed.
Web pages that contain the right keywords in the right places or have substantial links to popular websites can improve their position on search engines pages by a tremendous amount. Web content that was previously shown on page 3,000 could easily end up on page 3 if it’s formatted correctly.
Digital marketing can be a daunting task and getting a substantial ROI is an absolute must for ensuring a company’s long-term viability.
Fortunately, there are numerous tools, tips, and services that can be utilized which increase the amount of marketing material that’s shared and the number of money people are willing to spend on a product or service.
Sheryl Wright is a freelance writer whose passions include cooking, interior design, and true crime novels. If she is not at home reading, she is at a farmers market or antique shop. She currently lives in Nashville, TN, with her cat, Saturn.