Top three ways of re-enhancing marketing campaign to improve ROI
Businesses spend months crafting and building marketing strategies to promote their products and services. Sometimes, you may get everything right, but get disappointing results after every marketing campaign. This is a common problem most startups face. Some small businesses find it difficult to have a positive ROI. This is regardless of how well they plan their marketing campaigns.
Measuring marketing ROI can be difficult if a business does not have the right metrics. But even with or without metrics, startups need good strategies and planning to effectively use their marketing campaigns to improve ROI. If you are facing this problem, you need to re-enhance your marketing campaigns. The following are three ways of doing just that.
Create a new content marketing strategy
It is often said that content is king. This is because content can help improve business performance. Content is not the words you write on your website to improve search rankings. It is not podcasts, videos, or infographics. It is everything that helps to communicate a message to your target audience.
If your marketing campaigns consist of social media marketing, forum marketing, email marketing, traditional marketing, and native advertising, their success depends on the content you create. When people talk of content marketing, they are simply talking about the marketing strategies that center on relevant, valuable, and unique content. As such, the content you create for your startup will have an impact on ROI.
An effective content marketing strategy should always begin with a purpose. In this case, you should be aiming to:
- Improve website traffic.
- Acquire new leads through email lists.
- Generate more business sales.
- Engage with customers and clients.
- Improve brand reputation and awareness.
The purpose of the marketing campaign should help you create concrete, approachable, and measurable goals. Together with your team, you should focus your energy and resources to attain those goals. You should also use the goals to strategize content accordingly. You can do this by:
- Brainstorming the most effective content topics.
- Deciding which media (audio, text, video) you will use.
- Figuring out the effective ways of putting them in front of the target market.
- Consolidating plans as you continue with the campaign.
Once you decide the layout of your content marketing, start handling your online presence on all major social media networks.
Target high-potential and high-value leads/customers
Targeting high-potential and high-value leads sounds simple. Yet, many startups fail to take advantage of this key aspect of segmentation. Segmentation is a powerful feature of any marketing campaign. This is because it allows businesses to determine a customer’s buy cycle at any given time.
Automatic segmentation, lead scoring, and personalization based on customer behavior can offer significant ROI. A customer with a high net worth as defined by the volume and frequency of purchases made within a certain period of time is a high-value customer.
Your existing customers and clients will always be receptive to cross-sells and upsells than new customers. Therefore, approach or target high-value existing customers and give them packed offerings at acceptable rates exclusively cut out for them. Also, monitor high-value client accounts before they reach expiry. This will allow you to renew them proactively along with packed offerings. More ways of targeting these customers include.
- Reward them using loyalty programs. Use discount-based or point-based loyalty programs along with buyback schemes to ensure high-value customers keep coming back to your brand.
- Take advantage of referral schemes. Use your existing customers to win new customers through word of mouth. A person is more likely going to buy a product from your business because somebody else referred them.
- Invest in dedicated customer care representatives. You can delight a high-value customer with excellent customer services. Use call routing systems to connect these customers to trained customer care reps immediately they contact your business.
Generally, it makes sense to expand your business and bring in high-value customers. This move can almost guarantee that your business will see higher sales and profitability. The customers will be able to spend their disposable income on your services or products. Therefore, create a marketing strategy that will attract their attention. Per say, if you’re a restaurant business, you can consider few online marketing hacks like coming up with your own food ordering services. Tactics like these can help in improving your ROI.
Improve social media marketing strategies
Social media channels have changed the way marketers approach online marketing. Today, many household brands are taking advantage of social media networks to develop relationships, improve brand awareness, and grow sales. To improve your overall ROI, you must develop, nurture, and implement effective social media marketing strategies.
Social media channels can help you target the right audiences. But to achieve this, you will have to use the right social networks. Not all networks can help you get the right people to buy your products or services. Depending on your startup’s offerings and audience, target the channels that match your business’ promotion efforts.
For example, if you are selling products that appeal to young people, use SnapChat to target them. On the other hand, If you are selling professional services or you want to network, use LinkedIn. You can also use Facebook and email marketing if you want to target audiences of all ages. However, do more research to determine which networks perfectly match with your niche.
You can also improve your social media marketing strategies by:
- Taking advantage of influencers on social media to generate more buzz. Influencers can help boost up your business and brand presence online very quickly.
- Investing in paid advertising on social media. Paid advertising offers an effective way of generating powerful and quick impact on your business.
- Developing your presence on social media. You need to have a bigger and better presence on the platform to ensure social users get to know your business fast.
It is possible to improve ROI by enhancing your marketing strategies. You can do this by thinking ROI anytime you are planning, executing, and measuring your marketing campaigns. By following the above strategies, you will do much more than creating an effective marketing campaign. You will be able to use the right tools and processes to get a good return on investment.
About the Author
Sheryl is a self-motivated individual and curious to grab industry trends. She strongly believes “Learning is the only treasure that will follow you everywhere.”