Using Digital Marketing to Improve Your Company’s ROI
As times get tougher after the wreckage left behind from lockdown, businesses need to wisen up in order to survive.
What this means on the marketing front, is that your company needs to be more strategic with the way you market and market for increased ROI (return on investment). Basically, the money you spend on your digital marketing needs to equate to more website traffic, leads or conversions that move your business forward.
This is where we can help. With years of experience and educated marketers in our team, we know exactly how to make sure you get what you pay for. Read on to discover the basic formula that we follow to improve ROI with digital marketing.
First, We Establish Our Goals
Whether we’re running one campaign or multiple ones, we try to set clear campaign objectives before we begin our marketing efforts. To ensure our goals align with our clients’ business goals, we speak frequently with them to find out what their current state of affairs is, which areas of their business need a ‘boost’ and how we need to adjust our marketing goals accordingly.
One guide we use to help us set up successful objectives, together with our clients, is the SMART goals formula (specific, measurable, achievable, relevant and time-bound goals). This helps us ensure that our goals are worthy of attaining and that they can easily link action to profit.
From sending targeted traffic to a client’s website to reaching new customers in new markets to getting existing customers to purchase more products, we not only help our clients formulate goals, but also devise strategies to achieve these goals.
How We Reach Our Goals:
To effectively reach our clients’ goals, it’s essential that we do our research. We need to decide what data to look out for and analyse to inform our campaign actions and make sure they’re as effective as possible.
For example, if our ROI goal is to bring in more website traffic, then we’ll look at the buyer persona of our target, determine what they like and dislike, see which platforms they prefer to spend their time on (such as Facebook, Instagram, LinkedIn) and when they are most active on these platforms.
After collecting and analysing this data we may develop a strategic campaign that looks at bringing in more website traffic through social ads that link to a particular client’s website. We would then curate content that resonates with their likes and dislikes and deliver it to them at a time they will be most receptive to it.
This example shows one of the many ‘journeys’ that can be taken to reach this goal. Other journeys may take the targets to our client’s website through email campaigns or through Google’s Display Network.
What Indicates That We Have Reached Our Goals?
To ensure that we have met common ROI goals such as increased traffic, leads and sales, we use various analytical software to look at key indicators.
To determine whether we have brought in more website traffic, we look at indicators such as total website users over our campaign period, as well as returning users.
Leads (people interested in a client’s product or service)
Key indicators of improved lead generation could include an increase in website queries, more Facebook messages or an increase in populated forms during the campaign period.
An indicator that we have met our sales goal would be a high conversion rate. This rate is based upon the number of leads that convert to sales.
When drawing up our monthly or quarterly reports, we look at all of these indicators to see if our campaigns were effective. Although we cannot infer cause and effect relationships with these indicators (since there are many confounding factors affecting the data), we can use them to gain a clear enough picture of whether our marketing efforts have led to successful ROI or not.
With all of the above mentioned, it should be clear that with expert and established marketers, you can most definitely help your company’s bottom line. If you would like more information on how The Brand Collective can improve your company’s ROI through digital marketing, please don’t hesitate to get in touch with us – we’re happy to answer any queries you may have!