Every business, regardless of which industry you are in, your ultimate goal is to increase your ROI (Return On Investment). Who wouldn’t, right?
This is why you are embarking on your digital marketing campaigns, you are doing all the marketing efforts, preparing all the necessary resources and tools, implementing marketing strategy and tactic is for you to get more revenue. You are doing all of this for you to increases your sale, increase brand awareness, and boost your business profits.
But what if suddenly, you hit a wall? You are not gaining anything, or worse, you are losing more than you invested. Would that be pleasing for you? Of course not!
If you want to know how you can increase your ROI, you need to understand how to compute it first. The simplest way to calculate the return on investment is:
ROI = Net Return on Investment / Cost of Investment × 100%
With this article, Ideasoft will show you how you can increase your ROI by showing you 3 Digital Marketing strategies. These 3 tips will surely help you reach more audiences, generate leads, and increase your revenue!
3 was to increase Digital Marketing ROI
Measure your result and get better results.
The first thing you should do if you want to increase your ROI is to track your results. You may be wondering if this is really necessary but, trust us, this is very important.
Ask yourself this: How can you know if your marketing efforts works if you cannot measure them accurately?
Make sense, right? You can only know if your marketing strategy, effort, and tactics work if you can measure it accurately. This will serve as your baseline as well on how you can further improve your marketing campaigns.
Ironically, this is the most significant advantage of Digital Marketing. For instance, you can measure your progress using online metric tools or web analytics. You can also obtain detailed information on how prospects use your website or how they respond to your advertisement.
By measuring your real-time marketing operations, you can see which are working and which are not and make adjustments to get better results.
Your SEO ranking can be the key.
Mainly, the reason that most businesses setups a website for their business is to gather information to help improve their business, increase conversion rate, and make more sales to increase revenue. Your website can be overlooked sometimes, but it actually provides more than its purpose.
Have you ever heard the acronym “SEO”? If not, SEO or Search Engine Optimization is basically your website’s rank on search engines. The higher your SEO rankings are, the more effortless customers can find you. Pretty simple, right? But it’s not.
In fact, Google receives over 63,000 searches per second on any given day. That’s the average figure of how many people use Google a day, which translates into at least 2 trillion searches per year, 3.8 million searches per minute, 228 million searches per hour, and 5.6 billion searches per day.
Let’s assume that you are number 1 on google search in your field. Can you imagine the number of potential audiences you may have just by becoming a top result on Google?
Your potential customer will typically start their car-buying journey by going to google and searching for the information they need. By optimizing your website with SEO keywords often used by a customer, your website will be more likely to appear at the top of the search results, thus increasing the chance of conversion resulting in an increase in your revenue.
Social Media can be your new Sales Manager.
Potential prospects tend to rely on the internet first to gather information before making a decision. Reaching to your prospective clients can be the answer to increase ROI, and Social Media is one of the best ways for you to reach them.
Social media channels provide you a way to get your business in front of your prospects when they are engaged in their buying-decision journey.
You can use images and videos to resonate with users and show how your product works and how it can benefit them. You can also use demographic data to accurately target your audience, which is highly effective if you know your intended audience. Social Media platforms like Facebook offers a much more complex demographic data-driven search for you to further enhance your target capabilities but may cost more.
With more than a billion users on different social media platforms and still increasing day by day, your business should embrace social media by now.
It is also one the cheapest way you can do to have a better engagement with your customer and a better social media presence gives your brand more credibility and legitimacy. Better online presence means customers will more likely to trust your brand.
Once you established that credibility and legitimacy, your brand will more look genuine. The more authentic you look, the more trustworthy you are in the eyes of a customer, and it will be easier for you to do business with anyone.