Quick tips to get the most out of your marketing spend
from Adam | 19th November 2020
If you are spending money, directly or indirectly, on marketing, you want a solid ROI on your efforts. Often times, you fail to achieve this goal for various reasons that are beyond your control. In other cases, these factors are in your control, but the returns are still absent.
There are simple steps you can take to ensure you get the returns you want without putting in any extra effort. This guide will share some quick tips that should be applied to any marketing campaign to increase your chances of success.
A clear and intelligent goal
Almost every marketing campaign is designed to generate ROI, but many of them are poorly defined. People wanted to generate revenue or increase ROI. The problem with pursuing such a goal is that no one knows what success looks like.
How much sales should they produce? And what is the goal for increasing the ROI? If these things are not defined from the start, then nothing is good enough or everything is good enough.
Use the SMART goal setting to define the parameters of the marketing campaigns you have launched. Once you've set these goals, be sure to share these with your team.
This will help steer everyone in the right direction. If a campaign or initiative isn't on track to meet the goal, you can make changes to it or scrap it early without wasting resources.
Focus on the big things
In marketing, it's easy to focus on the details like button colors and placement. While this can result in small profits for you, it's not what you should be spending most of your time doing – at least not in the beginning.
When an initiative is young, most of your attention should be focused on the overall elements like overall messaging, the target market, and even the platform on which you are posting your messages. Once you've dialed up and getting good results, you can focus on the smaller things that lead to incremental improvements. Not until.
Use quick tests
Regardless of how well a marketing campaign is designed when it is first launched, there is room for improvement. This is one of your greatest opportunities as a poorly performing campaign can be flipped and a well performing campaign can be made even better.
The nature of your campaign determines what you can and cannot test. For example, if you're doing SEO, it's harder to test what works and what doesn't. It can take months to receive feedback.
Using paid ads as part of your marketing mix can have you tweaking and seeing the pros or cons within a day or two.
Whatever type of marketing you choose, there are a number of things you can test for:
– The entire message (headings, copy of text, unique angle)
– Images used
– The format (video, text, images, audio)
– The amount of information given in advance (long copy versus short copy
These are just a few suggestions. When testing, make sure you run split tests instead of testing one by one. This is important because settings and audiences can change so your data will not be correct if you run tests one at a time.
Marketing, like anything worthwhile, is a marathon, not a sprint. It never ends instead of prioritizing quick wins, focusing on the bigger picture, and setting clear goals. When you've met your goals, focus on the big picture until you understand the basics. Only then should you test the smaller elements and chase the incremental growth.