Although running digital ad campaigns can be expensive, this cost is necessary and justified when you consider the Return on Investment [ROI] you can get.
However, in these uncertain times, with many companies and agencies reducing and reviewing their marketing budgets, it is more important than ever to know that your advertising investment is effective and that you are maximizing it as much as possible.
With that said, here are five key ways you can improve the ROI on your digital marketing investment:
1. Avoid vanity metrics
When measuring the progress of your campaign, it is important to be clear about the parameters you choose to track. Including so-called vanity metrics, for example, can have the effect of distracting you from your business goals and ultimately affect ROI. Common types of vanity metrics include social media likes, shares, and followers, none of which mean much if you can’t link them to actionable results like clicks and website traffic.
It’s much more important to pay attention to clicks, as the metric means that someone has taken the time to read what you’ve posted or emailed and then clicked on it to learn more.
By closely monitoring metrics like click-through rate, engagement rate, reach, and more, you can accurately determine how well your campaign is performing and make any necessary adjustments to increase the number of potential leads.
2. Tackle bot clicks
Although click tracking is one of the best ways to measure ROI, the actual number of clicks you receive can often be distorted by the presence of click bots.
In basic terms, click bots are automated programs that are specially designed to perform click scams.
This is where a bot pretends to be a genuine visitor to a web page and automatically clicks on pay-per-click [PPC] ads, buttons, or other types of hyperlinks.
Given that a report published by security firm Imperva shows that bots, both good and bad, account for 52% of all web traffic, it is safe to assume that a significant portion of your digital marketing spend is going to waste.
By regularly monitoring analytics for unusual traffic, such as irregularities in the average number of page views and session times, as well as the source of referral traffic, you can identify malicious bots and then take steps to block them.
Once negative click bots are removed, you can be confident that your campaign has been optimized, allowing you to get accurate information that improves ROI.
3. Create content that you audience craves
With so many companies vying for consumer attention in the digital space, it is essential that your brand stand out from the crowd, and producing content that strikes a chord with your audience is one of the best ways to do so.
Because many consumers’ social feeds and inboxes are flooded with conventional emails about sales and new product launches, customers have grown to seek out valuable and personal connections from brands, which is why it is so important that your content is tailored to your target audience. , taking into account your interests, demographics, location, gender and more.
However, it is not enough to simply create content that is personal to your target audience, you must also have courage in trying to solve problems that they may be experiencing.
Once your brand has established itself as a source of impactful, personalized content, consumers are sure to come back to you again and again, thus increasing the ROI you see on your campaigns.
4. Use a ROI calculator
Using a specially designed ROI calculator is a quick and easy method to get a snapshot of where your digital marketing investment currently is, so you can make more informed decisions about how your ROI can be improved.
ROI calculators can, for example, calculate how much of your budget is being spent effectively simply by checking key figures such as your approximate monthly spend, the approximate clicks you’ve earned on the website, and the average value of a lead.
It is also effective in revealing exactly how much money click bots, disconnected visitors, and a variety of other factors are wasting that contribute to your ad spend not being maximized.
Equipped with the knowledge that an ROI calculator can provide, companies have the potential to increase the return on their investment in digital marketing by up to 40%.
5. Invest in an analytics tool
Effective analytics tools are invaluable for businesses that want their digital ad investments to go the extra mile.
Independent platforms have the power to offer unbiased and detailed analysis on your website traffic and landing page performance so that you can gain meaningful information and intelligence on the true effectiveness of your online campaigns.
Analytics tools like Beacon not only reveal website visitor statistics from individual links and provide reports on when your links were clicked and how your visitors behaved, but also show the percentage of real people versus the number. bot clicks.
With all of this in place, companies are in a much better position to start understanding what works with their campaigns and what doesn’t.
Conclusion
Having the right information is vital to understanding exactly how you can master the marketing ROI challenges facing your business.
Keeping track of vanity metrics, not paying proper attention to click bots, and producing content that lacks value or a personal touch has the potential to negatively impact your ROI, while using an ROI calculator and An unbiased analysis tool can really show you how. Make the most of your budget.
Without the knowledge it takes to make your digital ad campaigns a success, it’s hard to justify the money or time you have invested in them.
