A big problem I hear from clients, is that they are investing all their marketing dollars into their website and social media BUT they have no idea if they are getting a return on that investment. Not being a big fan of the historical print industry, it’s music to my ears to hear that digital media is finally beginning to get the attention it needs. The internet isn’t just a fad. SHOCKING! Right?
Keep in mind though, there is a giant trap you could get caught up in when investing in digital media, just like in any other areas of marketing. That trap is spending too much money without measuring the return. There really is no excuse for not measuring your ROI on any digital marketing because measurement is the key benefit in any digital strategy. From Facebook and Twitter to display ads and your own website, there is a way to measure it all. You just need to know how.
You might think you measure all your marketing, if you’ve increased in sales it must be working right? But, which part of your marketing strategy is working to generate those sales? Better yet which parts of your marketing strategy AREN’T working, that you could re-allocate those dollars to the areas of your marketing that ARE working.
It all comes back to measurement. It does take a lot of time and energy but in the end it’s what is going to help your cut back on expenses you don’t need while boosting your bottom line. In a nutshell here is what you need to start paying attention to if you really want to invest in boosting your bottom line.
1. How many people are you reaching overall & are the people you are reaching buyers of your product?
You might have found a great advertising deal that shows off your product to 10,000 people, but if those people would never buy your product or service is it actually that great of a deal?
2. Where does the bulk of the traffic to your website come from and does that traffic buy your product?
Does most of your website traffic come from Google… But you’re investing in Facebook Advertising instead because… When you could invest in Google Ads and drive even more traffic to your website because your audience is already there and looking for you?
3. What page are you listed on major search engines like Google & Yahoo?
If you’re on page 10 when you search “Running Shoe Stores Barrie” people aren’t finding your store because people searching online hardly ever go more than 2 maybe 3 pages deep to find what they are looking for.
4. Do your social media followers actually engage with your business or are they ghosts that you have never seen?
Why invest time and energy talking to people who will never buy your product? If you never hear a word from your 10,000 fans on Facebook you really need to adjust your messaging to attract the people who will buy your product.
5. What are people saying about your brand and others online?
LISTEN, LISTEN, LISTEN! The more you listen to what your potential customers are talking about, the easier you will be able to service their real needs. Help them find solutions to their problems with your products, combat any negative comments that you could turn around into extremely positive experiences that will make more people interested in doing business with you because you actually care about your customers. Most importantly, you could be capturing your competitions customers by reaching out to provide the product, information or service they are looking for because your competition isn’t listening at all.