No one likes to waste money, energy, and resources on ineffective marketing.
You want to know that everything you put into creating marketing campaigns will produce hot leads that can then be converted into paying customers. The key is knowing how to improve marketing ROI, allowing you to continually build stronger campaigns that interest and engage the people most likely to buy from you.
Let’s dive into some strategies you can adopt to improve your ROI.
Know what it is you want to accomplish
When it comes to the importance of creating a documented marketing strategy, the figures speak for themselves. Sixty-nine percent of successful marketing campaigns result from companies with a documented strategy, compared to just 16 percent who saw success without a strategy.
Before you get started designing ads or writing content, document precisely who you want to reach and how you will know whether you have succeeded in reaching your target audience and accomplishing your goal.
This calls for using SMART goals. This means that your goals should be:
Sitting down to determine if you want to focus on building your audience and brand reach with a particular campaign, drive sales through the holiday season with another, or build your sales funnel by bringing in new leads with a third will help you create more effective content and see greater success with your campaign.
Make sure you know your audience like the back of your hand
You cannot effectively engage your audience if you do not know precisely who they are. If you have any misconceptions about what your particular customers want to know before they make a purchase or what they look for in a company and product before they buy then you will drastically reduce their willingness to buy.
To make sure you get to know your audience even better consider the following strategies:
- Regularly touch base with leads who both do and do not buy from you. See what went wrong in your nurturing process and what did help persuade them to buy.
- Carefully track the types of questions your customer service and sales representatives receive from potential customers and existing customers. This can provide insight into the information that matters most to them.
- Look at the types of content that bring in the most effective leads and how customers that convert engage with your website.
- Keep an eye on competitors to see how they engage with their customers and their success compared to yours.
These strategies can help you maintain a strong relationship with your customers so that you know how to help them with their pain points. If something shifts in their interests or pain points, this continual research will help you anticipate the change and make sure your marketing remains effective.
Incorporate rich media across your platforms
Rich media has become an increasingly effective means of engaging customers, particularly on social media. Tweets with video, for example, see 10 times the engagement of those that do not have videos. Similarly, when you make a Facebook post with images, you will likely see 2.3 times more engagement than posts that only contain words.
Using this rich media approach not only helps to increase the engagement your posts receive, but it can also help people remember the information you want to communicate.
So, if you want customers to pay more attention to what you are saying, you want to make sure you use rich media.
Rich media can encompass a variety of different types of content. Rather than just producing articles and blog posts, you can take time to make videos, images, audio, infographics, and similar types of engaging material. Let customers interact with you easily across a variety of different platforms, such as different social platforms and YouTube.
Track your critical metrics
In the first step, you should have identified your plan for tracking your marketing campaigns and identifying success. As you build these campaigns, make sure you regularly monitor your metrics. Tracking them continuously will let you identify patterns, find potential problems quickly, and have a clear data set that demonstrates your progress.
Knowing how to improve marketing ROI is your key to building stronger campaigns and building your business. As you start planning your next campaigns, see how incorporating these strategies can help you expand your business.
For more guidance on your content strategy and growth marketing, reach out to the Tobe Agency team today!