More than half (55%) of global marketers expect their digital budgets to expand this year; yet 39% claim they have no intentions of increasing overall marketing budgets.
What does this mean? Digital marketing is expanding at the expense of other marketing strategies, placing more importance than ever on proving digital’s worth. In essence, marketers need to be sure they’re getting the biggest bang for their digital marketing buck.
Let’s take a look at some ways digital marketing’s dollar is returning the best results possible while curbing unnecessary spending.
Track and Identify with Analytics Getting the Biggest Bang for Your Digital Marketing Buck
Analytics are the backbone of successful direct marketing campaigns; in fact, marketing without analytics is like trying to throw darts in the dark.
Utilizing free tools such as Google Analytics is vital to uncovering what content is being read, what white papers are converting, and what third-party sites are referring the most traffic. Going one step further, marketing automation technology can track behavior at the individual level, providing insight into how each customer or prospect is responding to campaigns, what content they’re consuming, what web pages they’re viewing, etc.
All of this data can be aggregated to create detailed customer profiles and detailed customer segments that will lead to opportunities for success, including more refined targeting and messaging. Staying on top of trends and analytics, along with keeping a clean database, will ensure marketing dollars are not being wasted, and are instead being devoted to areas with the highest chance of success.
After marketers have identified their target audience through analytics and marketing automation, universal content should be created and distributed. This means crafting messages that incorporate several channels to gain maximum exposure. If an email is being sent, for example, include links to social media, and, if a tweet is being sent out, include a link to a landing page, etc.
Digital can even be incorporated into physical marketing campaigns with the use of QR codes on print material. There are endless digital channels marketers can use to deliver their message; identifying the most effective channels and delivering universal, dynamic content is the key to spending marketing dollars wisely.
Focus on Conversion Opportunities
Above all, stick to what’s working. After analyzing past efforts, identifying new opportunities, and delivering dynamic content through a variety of channels to break down siloes, re-evaluate and re-shape your campaigns. If a certain page seems to be converting more than others, focus on directing prospects and customers to it to get the most out of what it has to offer. Digital marketing on a budget should be a classic case of “if it isn’t broken, don’t fix it.”
Also, it’s typically much easier and more cost effective to focus on incremental improvements at the end of the conversion process than to fill the top of the funnel to produce the same results.
Digital marketers looking to get the biggest bang for their buck have many tools at their disposal to ensure their campaigns deliver the highest ROI. Leveraging free analytics and utilizing marketing automation to store big data are great ways of identifying strategies that are virtually guaranteed to deliver great results. After all, you’re much more likely to hit a bulls-eye when you aren’t throwing darts in the dark.
More Business articles from Business 2 Community: