How to Optimize Your Digital Marketing Budget?
Your ROI is good. But is that the best you can get?
This simple question can literally give how you go about with your digital marketing a 360, unveiling your business newer opportunities for growth and sustainability.
Okay. In simple words, wouldn’t it be great if your investment in marketing delivers you higher returns?
Of course, it’s GREAT!!
The outcomes would be better. You would be able to save well. You will have enough to re-invest. All these will eventually trigger a cycle of prosperity for your business.
But then again, let’s state facts: it isn’t that simple. Turning a dollar’s value into ten is difficult-even more so when your strategies are mapped and implemented in a way to keep the dollar’s value to only up to five.
Hold on though. There are ways. Irrespective of your business type, model and goals, there are few strategic and detail-oriented ways to optimize your digital marketing budget for much higher returns than your current best.
Here are 8 things you need to do right away:
1.Define your business goals
To get where you want to go, it’s essential you know where you are right now. So, identify how much is the ROI of your ongoing marketing efforts, how much you’re spending in different promotional avenues, and how much improvement do you really want to see.
Before you set out to optimize your marketing budget, define your goals. Else, with no aim, you would be missing the board 100 out of 100 times.
2.Spend more on Facebook and Instagram ads
Here’s something you may have only wondered over till now: advertisement on Facebook and Instagram (and even Snapchat) are extremely under-priced right now. The amount you’re asked to pay to grab one’s attention on these social channels is very (very) low. So, before this trend shifts and things turn expensive, leverage on it.
Source more of your marketing budget to Facebook and Instagram ads. With the right message and proper segmentation, you can easily make higher conversions.
Believe us, attention has never been this cheap since 2003 when people started rallying behind Google AdWords.
3.Start producing more blog contents
Writing isn’t very expensive, is it? Instead of contacting influencers, investing in press releases, and purchasing backlinks, start creating high-quality and super-relevant blog contents on a daily basis.
Optimized blog posts that are centric to readers’ needs and preference can unlock the door for much higher conversion. And not to forget, it would boost your organic traffic. All you’ve got to do is provide people higher value for their time and engage them in a meaningful conversation.
Just start spending more time in blogging and you will see an evident result very soon.
4.Create whiteboard animation videos
Videos are everywhere. Did you know that more than 500 million hours of videos are watched on YouTube each day? Yes, just on YouTube. If you aren’t riding on this trend already, you’re committing a felony. (Yes, we mean it!)
Now the problem comes that creating video contents is usually expensive. You have to hire a good space, arrange for proper lighting and even hire an actor, scriptwriters. All these can make video creation quite an expensive affair. Fortunately, there’s a simple solution to it.
Start making whiteboard videos! A one-time investment in software like Videoscribe can take your video marketing efforts a long way. With such tools, you can create highly interactive, instructional videos which, when compared to other types, engage and convert much better.
This will minimize your cost and maximize the returns.
5.Simmer down with Google AdWords
Yes, we said it! Stop obsessing Google AdWords. Even with all the studies appealingly quantifying its “high returns”, the advertisement program isn’t really what it once was- especially for competitive niches. It has become expensive and the rewards are comparatively less.
So, stop with your ongoing PPC campaigns on Google if you aren’t seeing the desired result. That money is better off spent on Facebook and Instagram ads.
6.Create a thorough sales funnel
It’s astonishingly surprising just how many business owners want to make online sales but doesn’t have a sales funnel to begin with. You need a well-defined sales funnel irrespective of what you’re selling or what business model you’re working in.
How you’re going to attract a stranger, how you’re going to generate leads, how you’re going to engage them and how you’re going to push them your products-answer these questions and create a thorough strategy.
This will eliminate all the loopholes and leakages in the way you’re currently selling your products, which will help you prevent enough wastage of your marketing budget.
7.Amp your search engine optimization efforts
Generating organic traffic from search engines isn’t really as difficult as some people have made it to be. Following a few basic measures like creating high-quality contents, getting more backlinks, speeding-up your website, enhancing its mobile-friendliness and paying one-time heed to the technical ends—you’re all done.
Things are even easier if you’ve got a reputed SEO services company in Canada by your side. This takes us to point #8...
8.Hire an affordable digital marketing company
You would think that you’re saving but DIY approach can cost you big in how less it really helps you achieve and how inefficient the strategies are. So, you’re always better off with a digital marketing agency having your back.
Now, of course, with so many of them out there, you need to hire one that’s good and affordable at the same time. Indeed, the task is challenging. But with proper research work and enough spent time, you can certainly find a reliable and inexpensive digital marketing company in Canada who can manage to deliver you much higher returns from your investment.
These are 8 powerful tips that will help you make the most of your current marketing budget. Once your marketing investment is optimized, you will come across plenty of business opportunities that would pillar your growth and sustainability.