3 tips to improving your marketing ROI

July 5, 2018

 

"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur"

 

Hang on.... so I'm going to talk about improving your marketing return on investment and I begin by suggesting you hire someone more expensive? 

 

Let me explain....

 

Many businesses throw money down the drain for one reason - they do something because it's cheap.  Ever heard of "pay cheap, pay twice?", well I'm not saying I don't love a bargain (it's Aldi over Tesco every time these days, even if I risk walking away with an inflatable kayak) but cheap does not always mean good, and on many occasions I've found that cheap and good do not go hand in hand.


So, tip number 1 - do your homework 

 

How many times have you been tempted to hit that "Facebook Boost Post" button with a promise of it being "your highest performing post" for a bargain price of just £10 per day? The people who like your page and their friends sounds like a good target demographic? Yes? Well, that's potentially another 1 million random people that you could be completely irrelevant to but will appear anyway, so it's not targeted, plus, you have no say where your post will appear.

 

The lesson? For improved social media ROI, plan, set objectives and have an end goal. Basically don't hit that button until you've done your homework...

 

Tip number 2 - test and learn

 

Back in the day I worked for businesses that would throw a few thousand pounds at magazine advertising or a direct mail campaign. I am not in any way shape or form knocking advertising or direct mail....

 

I LOVE DIRECT MAIL

 

Why? Because I get less than ever before, and what I do get I actually look at (and some of it is pretty clever). Quality over quantity.

 

However, these days there are a plethora of digital opportunities, and you don't have to commit a huge budget to an activity in the hope that it will increase your sales.  In this digital age you can test and learn to see what will work and what won't.

 

Here are some examples...

 

email marketing - test personalisation and subject lines

PPC campaigns - (there's a clever pause campaign button)

Marketing automation - test different customer journey touch points

Display advertising - test different creative and your call to action 

 

I've found that often businesses can't be bothered to test because undoubtedly it takes more time and effort, but most of the good stuff does!

 

Tip number 3 - step away from the "vanity metric"

 

Ok, so another tip with a social media example (but in this day and age we can't exactly ignore it).  Vanity metrics can be nice but distracting from your end goal.  They are a bit like doughnuts when you're on the diet - satisfying but you know you shouldn't (but often do).  Your goals and objectives should be more healthy (but still delicious to achieve).

 

Focusing on clear, relevant goals that have the potential to increase lead generation and brand awareness are powerful and can support improving your ROI.

 

This infographic from pardot sums it up brilliantly...

 

 

Hopefully, you found these 3 tips useful in reviewing and improving your ROI, but if you'd still like some advice, feel free to give me a call or drop me an email.

 

 

 

 

 

 

 

 

Share on Facebook
Share on Twitter
Please reload

Chat - 07824 447464          hello@consultant-c.co.uk

  • Twitter
  • Instagram
  • LinkedIn

Herald Way, Pegasus Business Park, Castle Donington, Derby, DE74 2TZ

Created by consultantc marketing. 

© 2020  Privacy policy