Does your company have an infinite marketing budget?
I don’t think those companies exist. If you’re part of one I want to hear from you!
In my experience every amount spent on marketing hurts another part of the business. Before I put down money for a new project I must know what the return on investment will be.
When it comes to paid media it gets tricky to gauge this return. The online universe is so vast it’s difficult to track the impact of my activities such as:
- Paid Facebook advertisements
- Promoted tweets
- Instagram ads
- Google advertisements
- LinkedIn sponsored updates
I couldn’t go on throwing money away. Look at these strategies I found that can increase your paid media ROI.
- Measure Your ROI
You can’t improve a part of your business if you don’t have statistics.
Do you know how to measure your paid media ROI?
Don’t feel bad if you don’t. In 2016 it was named one of the top challenges in the marketing world.
In short you need feedback from a combination of processes:
- Statistics from paid media channels such as AdWords reports
- Attribution combining your revenue information with these reports
Yes you may need professional help in this regard. It’s a tricky business.
- Benefit Your Owned Media
Don’t you love seeing synergy in action?
One way marketing expenses seem less futile is when you know they’re part of the big picture.
How well is your owned media performing? This includes:
- Ecommerce sites
If you focus the messages of your paid media around these topics—channelling traffic towards them—you’re certain to get some more ROI than in the past.
- Continually Search for Keywords
The market—and the way people speak about your business—is always evolving. Don’t fall behind.
You’re probably using keywords in your paid media. How old are those keywords?
If you don’t continually evaluate the market you won’t connect with new users and clients.
Your keywords must include new popular products featured in your market. These are the items people look for. Without mentioning popular trends potential new clients will find you irrelevant.
- Effectively Integrate Email
There is a myth going around that email is no longer an effective marketing method.
Don’t fall for this lie. Email was the first social media before others came onto the scene.
A certain part of the population still prefers using email for communication. There are people who don’t regularly browse the web or use social media.
It’s almost unthinkable I know. But it’s the truth.
You must incorporate email advertisements into your paid media marketing strategies. If you don’t you’re not communicating with your whole audience.
- Involve Customers in Your Posts
Who will your audience rather believe? You or other audience members?
Make your audience part of your paid media strategies.
Instead of a Facebook promotion with a basic advertisement you can adjust the angle. Ask users to comment or give ratings.
People will join in the conversation because they love giving their opinions.
More than the descriptive words on your advertisement your future clients will believe the feedback from these users.
These opinions give you free promotion.
You gain more clients and you build trust with your community. That’s ROI money can’t buy!
- Pick Hashtags with Care
Hashtags are everywhere and you probably want to cash in on their power. You’re on the right track but take care.
Hashtags can be used on most platforms to:
- Reach people interested in certain topics. Targeting people who are part of a certain club or movement—if this movement uses hashtags in their posts—works well.
- Confirm you’re relevant and informed on current popular trends.
Accurate use will result in a huge return.
It can just as easily let you seem out of date. Using too many hashtags in one posting is one way of failing before your campaign even begins.
- Give the People what they want
To get a return you need reaction.
What do you react to when browsing? I don’t think you focus on serious ads. Work the following aspects into your paid media:
- Interaction opportunities
More engagement will result in more returns.
- Always Adjust
Your feedback—mentioned in #1—will give you a lot of information. Don’t let it go to waste.
- Themes that get feedback
- Calls to action that work
- Times your paid media makes an impact
Everything that doesn’t fall into these positive categories aren’t doing you any favors. Adjust it or cut it.
- Make it Mobile
Don’t be naïve. If you’re not using paid media that’s also seen on mobile devices you’re wasting your time and money.
More and more online browsing—on websites and social media—is happening via Smartphones.
If you’re not investing in this arena you won’t improve your returns.
- Utilize Your Entire Workforce
A huge benefit to your paid media processes is right under your nose.
Do you know what social media users are looking for? Connection.
Among your employees are different personalities with unique interests. They can all connect with unique groups in your client base.
Ask all your employees to:
- Create posts and advertisements from their point of view
- Reply to users’ questions
The online community will love the personal touch while you bask in the returns.
- What Channels are You Using?
Don’t simply jump onto all available channels. That’s the best way to waste your budget.
Allocate budgets to channels where you know you’ll reach your unique audience.
Yes you need to do some work:
- Know your target audience
- Know which channels they use the most
Now meet your community where they’re active.
- The End will Tell You Where to Start
So which paid media activities are the best options?
Guess what. There’s no right answer. There’s only your answer. Discover what works for you.
But do you even know what results you want? If you judge a sales campaign on the number of followers you gained your statistics will be skewed.
What is your goal?
- Do you want more followers?
- Do you want more sales?
- Do you want information about your clients?
Now work backwards from this goal. What do you need to do to get this?
Do you feel more informed or confused? Don’t back away. You won’t get it all right on day one. Identifying what works is part of the strategy. Your ROI will always increase if you continually improve your processes. Good luck!