When you launch a marketing campaign, you want to ensure it’s as successful as possible. Whether your goal is to increase sales, attract new customers or build brand awareness, you need the right strategies to maximise your return on investment (ROI).
Marketing campaigns are often expensive, but they are necessary. You can’t unleash the full potential of your campaigns without a powerful marketing strategy.
Regardless of the mode of marketing, you need to determine your marketing campaigns’ Return On Investment (ROI). Measuring return on investment is essential for every well-thought-out marketing strategy, although calculating it may initially seem unclear. However, there are a variety of metrics that you can track when it comes to measuring the ROI of your digital marketing campaigns. Thus, knowing which ones to measure and avoid is also necessary.
Here are the most innovative ways to improve the return on the resources you invest in your marketing activities.
Establish Campaign Goals
Every business has goals, and so does every marketing campaign. When you create business goals, you must consider multiple factors that could impact your journey to achieving your goal.
Most organisations have recently begun to embrace “SMART” goals (Specific, Measurable, Achievable, Relevant and Time-bound). According to Managers.UK, SMART is a strategy that helps you plan your approach to reach the goals and measure your progress easily.
For starters, you need to determine what a strong ROI would be from your campaigns. Remember that your marketing ROI depends on many factors, such as cost structure, industry, and market demand.
Additionally, your campaign determines your ROI too. For instance, the ROI from a digital campaign will be different from that of an email marketing campaign. It’s also essential to clearly define your marketing strategies’ purpose when establishing campaign goals.
Always try to set only realistic goals. Setting unrealistic expectations from your marketing team or campaigns can drastically impact your overall strategy.
Try Out Various Platforms
Sometimes you might spend a lot of time running your marketing campaigns on LinkedIn in vain, only to find out that the same strategy brings positive ROI on Facebook.
A common mistake marketers make is judging a campaign’s potency based on its performance on one platform. This is very ineffective and short-sighted. Always consider running marketing campaigns on multiple platforms simultaneously. Allocating more or less the same budget and testing similar ads can tell you where your audience will most likely respond to your proposition.
After trying, you can use the capabilities of each channel and experiment with your marketing angles. You can advertise one product using multiple content formats depending on the platform you choose to exploit. Most likely, your potential customer tends to use multiple channels daily, so you also need to exploit every channel available.
Find out your brand’s area of influence by utilising multiple channels, which will increase your chances of success.
Create Audience-specific Content
Your brand needs to stand out if you can become successful in a digital space where consumers are constantly bombarded with hundreds, if not thousands, of ads daily. Content is the linchpin of your marketing strategies, and you need to ace it to ensure that you stand out from the ever-growing crowd of marketers.
It is necessary to ensure that your content is personalised for your target audience. Once you figure out your target market, you can create content accordingly. It can be defined based on their interests, demographics, location, and gender.
From sharing content about your product or services to engaging with your audience regularly via emails, be sure to connect with your audience on a personal level. Also, the best way to determine what your audience wants and expects from your brand is to ask them directly. Schedule and conduct regular surveys, polls, Q&A sessions, and webinars to communicate with your customers.
Once you gather information, analyse it, and identify common points that will help you understand the audience’s needs better. This will enable you to create better-personalised content for them, and increase your ROI.
Use Split Testing
Split testing, commonly referred to as A/B Testing, is a method of conducting controlled, randomised experiments to research user experience. This method implies that you experiment with new angles by introducing one or two changes in a variable at a time. In A/B testing, “A” refers to the control or original variable, whereas “B” refers to the new version of the testing variable.
Marketers should use this approach as it allows them to eliminate guesswork and make decisions based on raw data. To identify your best-performing platforms you need to test them! However, it is essential to spread yourself evenly across all platforms. Test a couple at a time and see what works.
Another important caveat is that with low traffic, A/B tests can take a long time to generate results. Many marketers underestimate the time required for a split test to generate results; in some cases, this could take years! Of course, we don’t have time to wait years for results, so to speed things up make sure that the A/B tests are very different from the original. This will help the testing software see noticeable traffic changes and give actionable insights over a much shorter timeline.
Another tip is to throw a wild card into your A/B testing. Something a little off the hook or an idea that you had that you initially dismissed. This could be a radically different perspective, an unusual approach to advertising or a completely different landing page design. You never know – these wild cards might be the ticket to a completely different set of traffic! Don’t be afraid to experiment. That’s what marketing and testing are all about, after all!
Making sure your A/B tests give informed insights will greatly impact your ROI, allowing you to capitalise on your data and get more bang for your buck.
Invest In Marketing Automation
With the evolution of marketing, marketers are increasingly looking for efficient marketing automation tools to perform simple and regular tasks to reduce expenses. This is probably one of the reasons why the market for marketing automation tools is expected to grow to $6.4 billion by 2024, according to Marketsandmarkets.
Time is just as valuable of a resource as money. Producing effective marketing content routinely, conducting a proper review, and implementing changes are labour-intensive processes. Applying marketing automation tools in your marketing strategy takes away the burden of manual and highly repetitive tasks.
Choosing the right automation tool enables you and your team to identify your target audience and automatically generate necessary actions based on acquired information. A marketing strategy that relies heavily on automation lets you save significant time and resources while contributing to ROI. The better your marketing ROI becomes, the more confident you’ll feel in investing further in the right kind of marketing.
ClickSlice: Average 15x ROI on Marketing Investment
With all this in place, you’re well on your way to maximising your ROI on marketing spend. Yet all these ideas have one thing in common: the need for high organic traffic levels. If your site isn’t getting views and clicks, you’ll find it difficult to see the results you want from marketing.
The key to increasing organic traffic? It’s SEO. A solid SEO strategy helps businesses like yours increase the number of people who land on their sites every day. ClickSlice is an award-winning SEO agency in London that helps businesses do just that. In fact, our clients experience a huge average ROI of 15 TIMES their original spend, and we can help your business do the same.
Contact the expert SEO team at ClickSlice today to discover how ClickSlice can help you improve your marketing ROI and drive real conversions.