Return on investments (ROI) is the benefits you get from the investment you make on your data driven marketing. The end goal of any business is to get the maximum ROI from their digital marketing campaigns.
It might confuse you to understand the factors behind boosting your ROI in digital marketing, so we have 7 factors that get the best from your digital campaign.
In-depth consumer research: Data-driven marketing helps you understand who your consumers are and what makes them engage with your product, brand or services. Having an insight into your consumer likes, dislikes and what gets them interested will help you create campaigns targeting their preferences. You can create research manually or from software like google forms, SEMrush, Survey monkey and Google Analytics to understand your market analytics and your competitors.
Categories insights from consumer research: Categorising your consumer insights with a clear data driven marketing strategy can help you target better. Understanding consumer behaviours and what they consume daily can keep you up with their preferences. The other insights could be their user experience in your app or website and what can you improve or do better to enhance their experience.
Strong communication route: After conducting research, finding consumer insight and conducting market analytics, the next step is to create a strong communication route through your content. Vernacular content has been more effective, but it depends on what types of consumers you want to target in data driven marketing campaigns. If you want to reach the Tier 2 or Tier 3 consumers, then speaking to them in the language they understand is the most effective.
Communicate using creatives: From static to image-based content to video-based content, experiment with your content and copies in all ways possible. In data driven marketing, communicating through content also plays an important role for connecting with your audience.
AB Testing: Test as much as possible to understand the creative, digital campaign and copies that are benefiting the most and helping you reach your targeted ROI. Creative AB testing for 7 days with which combination influences your ROI marketing can help you understand which digital campaign is delivering the most.
Tracking upper funnel metrics: Your upper funnel metrics help you create more awareness with your target audience which will help you increase your ROI in digital marketing with better conversions. Start by analysing your upper funnel metrics and then move down to the bottom funnel.
Track your competitors closely: By using ADs library and your insight section on Facebook and Google Ads you can track your competition and prepare a much detailed data driven marketing strategy showing details like audience overlap, audience exhaustion rate and other metrics that will help you differentiate with your consumer which in the long run maintain your ROI marketing.
If you found these seven points helpful and would like to know more about how to hyper-scale your business, don’t forget to like this video, subscribe to Social Beat and tap the bell icon to get notifications.