If you are not happy with the performance of your social media campaigns or paid advertising performance, you will need to take a step back and try to implement positive changes that will improve your return on investment and your conversion rates. You will need to start measuring everything, set conversion targets, and maximize the value of each visitor and converted customer. Below you will find a few ideas on how to get started.
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Automate Your Promotions
First, you will have to stop focusing on the small tasks. It is understandable that you would like to be in front of your customers every minute, but if you spend more than an hour on social media every day, you are not likely to be using your resources the best way. What you need is a well designed sales funnel and a digital marketing automation that will help you schedule your posts, measure your engagement, and find the right content to post for your niche.
Once you have your marketing automation in place, you will need to find a way to measure everything. You have to find out how many people have been reached through your blog post, your social media, and your YouTube channels. Normally, this would take hours to find out, not to mention that you will also need to analyze the results after. However, there are several digital marketing tools that will do the job for you.
Focus on Capturing Leads
If you have to earn every sale individually, and you have no chance of selling to the same buyer again, you are wasting your advertising money and resources. One of the best advice advanced marketers can give startup entrepreneurs is that they should create their own list of leads and follow them up. Get a customer relationship platform in place, so you never miss a sales or promotion opportunity again.
Improve Your Retention Rates
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If you would like to maximize your revenue per sale or per client, you will have to pay attention to retention and keeping your clients happy. Show your appreciation by providing free tips and value added services, so they don’t even think about trying other services or products. Customer care is one of the best ways of maximizing your return on your marketing investment and improving your reputation.
The Power of Retargeting
Are you dealing with a lot of abandoned shopping carts, or incomplete forms? You can now use retargeting as a great way of getting people to visit your website again. You might also want to invest a system that will Optimize Google Ads automatically so you don’t have to manually review your visitors’ behavior and put different actions in place to win them back.
In case you believe that email marketing is dead and you are not likely to get sales, you couldn’t be more wrong. If you don’t have an autoresponder, a newsletter, and an exclusive membership program in place, you are wasting a lot of your energy chasing cold leads instead of focusing on the people who already trust you and are much closer to making a buying decision. Autoresponders can generate revenue and sales and create customer engagement at the same time.
When you are just starting up, chances are that you will find your list building and marketing extremely slow. What if you could piggyback on the traffic other people in the industry are getting and cross-promoted each other’s products? This method is great, as it will result in new leads in both businesses, and you can add value to your products and services at the same time.
Maximize Your Ad Performance
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If you are just getting started with social media advertising, or YouTube, chances are that your first campaign will not be a winner. This is why you might want to make adjustments and get a software to provide you with detailed statistics. You should learn how to interpret the reports Facebook and other social media advertising platforms create, so you can change things around and get more conversions for your advertising dollars.
There are several tasks an online business owner needs to deal with, but nothing can turn a venture around as much as improving the efficiency of your digital marketing. Implement continuous changes, test and tweak campaigns, until you get the results you expect from your advertising campaigns. After all, marketing is a numbers’ game, and you should always focus on the outcomes.