Online Marketing Strategies To Skyrocket Your ROI
The emerging digital era has transformed the way businesses do marketing. That’s why these strategies are needed to skyrocket your ROI.
We all know that social media channels, online advertisements, and blogs are all fruitful ways for marketers to employ new media into increasing business revenue.
Moreover, even small businesses are taking an interest in investing in digital marketing.
Online marketing can be effective, only if it is executed strategically. Utilizing online marketing strategies can increase your company’s ROI and maximize your profits.
Online marketing is growing and the opportunities are boundless.
If you don’t know how online marketing strategies can skyrocket your leads and sales for your business, this article is for you.
But first, let’s dig out the basic idea.
What Is Online Marketing?
Online Marketing is an action by brands or businesses to promote their products and services.
It includes developing online advertisements and promoting special offers to increase product awareness and sales.
Search engine optimization, content marketing, getting reviews, and email marketing are some of the common tasks involved in Online Marketing.
What Is Return On Investment?
The famous business term return on investment, abbreviated as ROI, essentially measures how much value you get in return to the particular investment or resources you put in.
To know the efficiency of return on investment, subtract the cost of the investment from the profit of the investment, and divide by the cost of the investment.
The resulting number from this equation is a percentage that calculates the efficiency of ROI. The higher the percentage, the more efficient the investment is.
What Are KPIs?
Digital Marketing KPIs (Key Performance Indicators) are the quantitative benchmarks to measure your progress towards marketing goals set by you. It’s a time-bound metric you aim to hit in the context of your company’s growth, subscribers, sales, and current projects. It is the most useful measurable term used to understand your performance while employing digital marketing strategies.
So, here are the online marketing strategies that can skyrocket your ROI (drumroll please..)
1. Utilize Social Platforms Under Influencer Marketing
Online shopping has become more popular and the recent survey by Statista states that e-commerce sales are expected to reach 16.1 percent of retail sales worldwide in the year 2020.
Social channels play a significant role as users spend most of their time on digital platforms and it is a great way to seek audience attention.
This makes it important for every business to have an online presence.
Nowadays, social media strategies are not only for B2C markets, but an efficient social media marketing strategy has the potential to boost brand awareness globally.
By utilizing influencer marketing through social channels, you can convert your viewers into customers right away in a click!
For example, if your product only ships to the US, then an online influencer whose 70% of the audience is from the US, will be suitable to run a social media campaign relevant to your brand or business that inspires sales in huge numbers.
2. Invest In Paid Search
Unlike organic search engine optimization, PPC (pay-per-click) requires a promotion budget.
PPC is one of the online marketing strategies where search engines allow advertisers to display ads on their results pages (SERPs).
In PPC, you don’t pay until someone clicks on your ad. It works as a kind of paid SEO and enables you to target keywords and bid for the top 4 positions in the search results.
It is recommended for businesses who are willing to target the audience with a direct intent to promote their product/service.
This strategy can help you achieve measurable and controllable results.
Pro tip: At the time paid search campaigns on social media, it is important to add UTM parameters to your links as it will lower the discrepancy between advertising and reporting tools (like the Facebook link clicks vs google analytics sessions mismatches).
3. Build A Company Blog Focused On SEO
Blogging is a community-driven approach, and it helps to draw a network to engage new people and serve the existing customers.
Whether you own a company with a diverse range of services or a brand, blogging can help you market your business.
You can provide information to your audience by providing a solution to their problems or by helping them with guides, actionable tactics in the form of infographics strategies, tips, and tricks.
The blog’s growth will venture into the foundation of building customer relationships and facilitate customer engagement.
Secondly, you can call it an arena to demonstrate your expertise and share your knowledge or create and sell online courses.
But you need to assure that each blog post should be relevant to your audience and the information adds value to them, apart from marketing your product or service.
4. Score And Nurture Leads
When it comes to lead generation, finding high-quality leads is important.
Lead generation campaigns are a smart step to score the best acquisition of leads and nurture them.
Lead scoring allows you to rank leads based on their online interaction and how they behave with your content.
Lead nurturing is followed by lead scoring, which means converting your prospects into customers.
This is indeed the most effective strategy for increasing sales and to optimize conversion rates.
5. Email Marketing
Regardless of how many different innovative online marketing tactics are available, email marketing has its ways to engage new audiences and keep in touch with the existing ones.
If you don’t have a list already, start building it from your existing customer base and social media followers.
Once it’s done, even a basic newsletter to your list will generate traffic to your website and will increase engagement.
6. Reward And Retain Your Customers
Most of the companies spend a large portion of their time and budget on potential customers.
Rewarding and Retaining is all about nurturing the existing customers with great value to boost sales from sales!
They are one of the best company’s advocates that you can offer rewards or conduct giveaway campaigns to maintain their interest in you.
Moreover, the customers’ social interaction will be noticed by their respective network which will, in turn, generate traffic to your website.
Some of the exciting ways to reward your customers:
- Free Gifts.
- Rewards Points.
- Coupon Code for Next Purchase.
- Wallet Cashback.
- Referral and Sign Up Credits.
7. Guest Post On Industry Blogs
Guest posting on other industry-specific influential blogs is a great way to brand yourself among the audience and land them on your website.
The referral traffic by guest posting will help you grant excellent brand exposure in your industry.
8. Optimize Conversion Rates
Online traffic acquisition is only half the way to marketing for business ROI.
There are two ways to do it:
1. Attract traffic to your site.
2. Improve effectiveness.
With Google Analytics you can track users’ journey on your site and get the information like their demographics, behavior, and interests for free. You can review this data to see where your website converts visitors through the sales funnel or tinker with the web pages for potential visitors.
Online Marketing is about delivering content that promotes your brands to produce results.
A good marketing strategy is a roadmap to target the right audience with the right content and create an impact on the growth of your organization.
We hope this guide brought light to your thoughts on how to kick start with online marketing strategies to skyrocket your ROI.