Most businesses are looking for ways to increase their marketing ROI. You want your ads to create a connection to your target audience and increase the odds that they will make a purchase. You're certainly not alone in that desire. With these five strategies, you can increase your ROI right now and start reaping the rewards.
1. Conduct a social media audit.
It's important to monitor your social media platforms and your competition’s to see what is performing well with consumers. The needs of consumers change frequently, especially in the midst of difficult or challenging times. Savvy marketers keep up with those needs.
A social media audit will show you how your content performs, how it performs compared to your competitors, and what type of content performs best. Evaluate the type of content that gives you the best response from your audience. What are you posting that gets their attention? How can you adapt your future content in order to include more of those elements?
2. Research your target audience.
In order to create an effective marketing campaign, you need to have a solid understanding of your target audience. Who are they? What do they want to see from you? What will convince them to make a purchase from your business?
You need to know as much about your target audience as possible. You want to see general demographics, including age, gender, and income range, alongside more complex information like where they spend their time: the social media platforms they use most often, the television programs they watch, and more. Working with a media partner can give you a better understanding of your target audience and the content they want to see.
3. Incorporate automation.
Marketing automation can significantly decrease the amount of time you have to spend on common marketing tasks while increasing your connection to your customers and providing them with more information. Automated emails, for example, can encourage customers at multiple stages of the buyer's journey. Consider:
- Automated emails that go out when consumers join your mailing list can remind them about your business and what they intend to accomplish with you.
- Emails after purchases can send out information about those purchases or about accessories and upsells that could benefit the consumer.
- You can automate emails that go out when buyers take specific steps along the journey that can help them make a decision or address the pain points they may face at that particular point in the journey.
- Cart abandonment emails can help remind consumers about a planned purchase and encourage them to come back to complete it. More than 70% of shoppers may abandon their carts at checkout, but cart abandonment emails can increase recovery rates by an average of 36%.
4. Integrate video content.
Video offers an incredibly powerful opportunity to connect with your customers. It evokes emotion, increases engagement, and can lead to better memory of the content you've produced. Not only that, but many consumers are also more likely to consume video content than static blog content.
Video can be used through OTT ads, on social media, and on your website to help increase interactions. Forty-five percent of people watch at least an hour of video content on Facebook and YouTube each week, making it an excellent opportunity for you to reach consumers.
5. Work with a media partner.
If you really want to improve the return on your marketing investment, working with a media partner is one of the most effective ways to do it. A media partner can help provide you with vital information about how to improve the overall success of your campaign, including market research on your target demographic.
Improving the ROI of your ad campaigns can help your business grow immensely, including increasing the number of people who come through your door. By following these suggestions, including conducting a social media audit, researching your target audience, incorporating automation and video content, and working with a media partner, you will find that your marketing results increase significantly.