Companies around the world are investing a handsome sum of money in digital marketing to achieve the ultimate goal of maximizing their ROI. 93% of CMOs say that they are under constant pressure to show concrete results and deliver measurable ROI from their marketing investments.
The current industry trend is to focus on buzzwords like “viral content” and “engagement”, but the truth is that these digital marketing elements do not cover the entire story. Such metrics aren’t enough to give you a clear picture of how the time, money, and effort spent in this route impact your company’s bottom line.
Raise Sustainable Capital for your Startup
Startup capital is what entrepreneurs use to pay for needed expenses involved in starting a business. Depending on the state of your business, startup capital is used for the following needs:
- Hiring employees
- Paying for office space
- Product marketing
- Obtaining permits and licenses
- Buying inventory
- Paying initial bills
- Other expenses
If you are one of the above mentioned entrepreneurs, it is time to find ways to accumulate enough startups capital for your business venture. Unless you already have enough individual capital to freely invest without affecting your personal financials, getting an investor to buy into your idea is one of the first steps of success. Below is a list of three investors to market your startup to, depending on your company’s needs.
You need to be innovative and distinct in devising the strategies to boost your business a fighting chance during a pandemic. The list below is not exhaustive but will give you a good start in deciding the most lucrative path in digital marketing.
Set SMART Goals
As soon as you set an ROI goal, make sure that it is specific, measurable, achievable, relevant, and time-bound. In short, your goal should be SMART, as it allows you to aim for success without setting unrealistic expectations.
Choose certain analytics to gauge the impact of your efforts in achieving the target ratio. In the marketing language, a decent ROI is $5 for every $1 spent. The 5:1 target ratio is not only strong but also considered realistic and achievable in the industry.
Adopt Multi-Channel Approaches
Rather than wishing that your efforts on an individual channel reap futile results, a better way out is to infer how different channels will work together to help you reach your goals. To opt for this approach, it is essential to understand the path taken by customers for maximum conversion.
According to Statista, among the numerous digital marketing channels, content marketing, e-mail marketing, and SEO are the top choices of marketers to generate the highest returns on investment.
Create a Luring Landing Page
While digitally reaching out to the audience, your landing page is the first thing they see. Generally, ‘the first impression is the last one’ is not always true, but there is no denying that instantly impressing your potential client can generate more leads and enhance ROI.
As per Hubspot, it has been observed that companies having above 40 landing pages get 12 times more leads as compared to those having 5 or fewer. Now, the question is how to make the landing page effective? Here are a few tactics:
- The title and subtitle should be powerful.
- Highlight the pain areas of the target audience.
- The CTAs should be placed close to valuable, actionable content.
Channel Your Resources to the Right Audience
As a marketer, half of your success is achieved the moment you identify the right audience. This assures you that all your valuable resources are being channeled in the direction and will generate profitable results.
Publishers also seek maximum returns. For this reason, they work with agencies like AdMaven, who integrate relevant ads from various formats tailor-made for each site's traffic, giving the publishers higher revenues while keeping user-experience high.
Be Strategic About the Marketing Volume of Your Campaign
Do you know that 60 to 70% of the marketing content generated by companies goes unused? This clearly shows that while organizations are aware of the importance of working on digital promotion, they’re still not certain what should and what should not be produced.
Crafting a single mind-blowing marketing strategy targeted at the correct audience and distributed strategically is enough to work wonders for you instead of producing volumes of marketing campaigns not reaping futile results.
Conclusion: Stay FOCUSED!
Spending too much time on calculating your ROI can result in lost ROI! Keep in mind that everything is not measurable, like the emotions of your potential clients. The best way to gain maximum returns is to determine the most impactful marketing efforts and focusing on them.
While hard metrics lead to ROI improvement, there is no denying that vanity metrics also play an integral role in giving you a comprehensive view of your marketing campaign. Your ROI measurement must be beyond just revenue generation so that your team can drive engagement and improve brand recognition.