How much money do you plan to spend on digital marketing? According to a study conducted by Gartner, 65 percent of professional marketers plan to increase their online advertising expenditure. This trend is being fueled by a shift from offline media to digital media as well as the growth of paid social advertising.
As a business owner, you should optimize your digital marketing strategy to get the most bang for your buck. Doing so will allow you to generate more sales/conversions even without increasing budget.
How to Maximize Your Online Advertising ROI
One simple way to maximize your digital marketing return on investment (ROI) is to optimize your website for higher search rankings. Known as search engine optimization (SEO), this involves creating content, adding meta data, creating a positive user experience and building backlinks. Once your site has achieved a top ranking, it will receive a steady flow of visitors. Best of all, this organic search traffic is completely free.
For paid advertising, avoid buying bulk inventory of banner ads. Instead, use a more targeted method of promotion, such as the pay-per-click (PPC) networks Google AdWords and Bing Ads. Both AdWords and Bing Ads use a model in which advertisers pay for ad clicks. Additionally, advertisers can select which keywords they want to trigger their ad impressions. As long as your earnings per click (EPC) is higher than your cost per click (CPC), you have a profitable PPC campaign.
Google AdWords offers a special type of advertising service that can further stretch your ad dollars: remarketing. With remarketing, you can create ads that are only seen by users who’ve visited your website. If someone visited your website, it’s safe to assume they are interested in your products or services. Remarketing is a way to target these users and convert them into customers.
Don’t forget to supplement your digital marketing efforts with social media. Research by Pew indicates that 79 percent of Americans use Facebook — and that’s only one social network. You can use this to your advantage by creating a Facebook Page for your business and building a following of loyal users.
Avoid These Budget-Killing Digital Marketing Mistakes
To get the most out of your online advertising budget, you also need to avoid making the following mistakes:
Running PPC ads without setting a maximum daily budget
Not using a dedicated landing page for paid search ads
Using a mobile-unfriendly web design
Setting and forgetting your ad campaigns
Sending paid traffic to your website when it’s offline
Hiring an under-qualified, inexperienced ad agency to manage your ad campaigns
To learn more about our industry-leading digital marketing services, contact Paradux Media Group today.