Return on investment is unfortunately overlooked by a lot of businesses before they start marketing. Most people get excited, jump into the deep end & expect amazing results. What you spend v what you generate should always be the first thing you look at to drive your marketing decisions. Here are our 10 quick tips to boost your marketing return on investment from day 1.
Know the numbers
If you go in blind you have noone to blame but yourself. It may sound harsh but it is true. Think about all the other decisions you make in your business. I am sure they are well thought out, researched and planned. When it comes to digital marketing people have little to no understanding so they put blind faith into service providers & unfortunately get burned (a lot of the time). I do not want you to be a digital marketing expert or guru. Use your business savvy to know what you have to spend, what you can realistically generate, how you can scale and how you can make the right marketing decisions. You see an instant boost to your ROI & confidence to make proper marketing decisions.
Choose the right channels
People struggle to know what direction to go in. Again, take everything back to a business decision. Understand who your customers are and where they are living. Are you in the B2B space? LinkedIn may be a good alternative. Do you know how much search volume there is on Google for your product or service? Can you run Google Ads? These are all decisions based on where your customers are. Not what you think is the best thing to be doing based on what you have heard or what your friends are doing.
It is so simple and easy to do & configure, but is most often done incorrectly. Think about visitors to your website. They may compare providers, forget about you completely or need time to make a decision. Not everyone is instantly in the mode of buy now. Re-marketing or re-targeting can help you subtly sell to those warm leads that have been exposed to what you do. It is best to build audiences based on what pages they visit, if they made an enquiry or if they are a customer so your advertisements are relevant, timely and can work actively towards boosting your return on investment.
People struggle with email. They try to send out beautifully crafted campaigns with images, visuals and all the latest design trends. Forget about it. People open and read emails when they think it was personally written to them. Avoid spammy hooks and subjects and focus on personalising your emails using plain text to avoid spam filters. Use automation with your favourite email marketing service & use it to cultivate leads, drive referrals & boost your ongoing return from your marketing spend.
If you have a website and you send paid traffic to your website home page you usually end up wasting money. If you are utilising re-marketing and you are sending them back to the same page again and again on your website you are wasting money. Landing pages should be strategically designed to entice people depending on where they are in terms of their interaction with your business. If they are coming through a search ad focus on driving an enquiry. If you are then re-targeting someone that went through a search ad and did not convert send them to a different landing page. It makes your message clearer, differentiates you and will boost your marketing return.
Employ a copywriter to create direct response copy on your landing pages, emails & adverts. It will be the best investment you will ever make. It will drive actions from your visitors by speaking to their pain points and how you can solve them. Writing your own copy can create issues. Even if you think it sounds good you need to put yourself in the shoes of your customers. Copywriting done right will have an instant boost to your marketing return.
Using lead magnets you can add value to your customers before you start selling to them. Using webinars, guides and things like quizzes you are able to give potential customers an insight into your business prior to them doing business with you. Using smart email automation you can cultivate the lead once they opt in.