Who doesn’t want to turn their money? Into more money, unlike what you’ve just seen, you don’t need magic to maximize your business’s marketing dollars, you just need to focus on digital marketing channels that will give you the best return on investment. Also known as your digital marketing. In this lesson, I’m going to talk about three digital marketing channels that are proven to have a positive ROI for businesses.
I’ll also go over how to calculate your ROI so you can start making money magic for your business. Let’s go. I don’t think I have to explain how important it is to make the most of your marketing budget a positive. ROI in your marketing investment is working and your business is growing, so you should aim for that when crafting your strategies. Honestly, you can see a positive ROI for most marketing channels if your campaigns are optimized well. But digital marketing channels, you can start with our email marketing, search engine optimization or SEO and pay per click advertising or PPC.
Let’s dig into email marketing. If you’re not super familiar with this marketing channel, it’s a great way to reach past, present and future customers. Whether you have an email subscription box on your site, ask people to enter their emails after they make a purchase or have a rewards program where people can get coupons sent right to their inboxes. Email marketing allows you to communicate directly with customers in a bunch of different ways. According to Campaign Monitor, email marketing can have a forty four hundred percent r y. So for every one dollar you spend, you can potentially earn forty four dollars. Talk about magic now. Getting such a huge ahli requires some planning. A great way to start is to make your email super targeted. First, divide your email list in the segments you can use factors like purchase history and stages of the buying funnel to determine who gets what emails. Not all customers are the same. So your email list should reflect that a cyclist who frequents your sports store isn’t going to need information about your discounts on soccer equipment. And someone who only reads informational content on your blog probably isn’t ready to buy your software. Next, at a layer of personalization to your targeted emails, what have you. Rather someone address you by your name rather than by something generic video viewer doing something simple like addressing email recipients by name is proven to increase click through rates and conversions. It’s definitely a strategy you’ll want to consider. Now let’s go over the next marketing ROI strategy. SEO can take some time to actually show results depending on all the factors and reputation of your site, but it does pay off. In the end. Nothing feels better than Googling your target SEO keywords and seeing your website at the top of the search results. If everything is optimized properly, you can see a major increase in traffic conversions purchases for basically any other goals you’ll have on your website.
Our clients have seen year over year traffic and conversion increases of over 100 percent in some cases, as well as revenue increases around the same percentage. So we know and now, you know, SEO works. If you partner with an agency to handle your SEO, you’ll introduce some costs there. But a good agency will know what to do to maximize your ROIC and help you keep track of this along the way. A good way to get started tracking your ROI. Why is to set up conversion tracking in Google Analytics. That way you can see how many people on your site are completing actions that bring value to your business. What you decide to track is entirely up to you. If your business focuses on leads, you might want to track how many people completed contact form on your site. If you have an e-commerce site, you can track things like transactions, average order value and more. And now we’re moving on to the last marketing ROI strategy. PPC PPC might be the simplest channel for our eye tracking since you can set an ad spend budget and measure that against conversions on your site. Google estimates that businesses see eight dollars in profit for every one dollar they spend on Google ads. That’s pretty impressive. Sticking with Google ads for PPC campaigns, you can also automate your bidding based on your goals. To really maximize your hard earned dollars. You can choose to stick to a certain cost per action or even to utilize your spend in a way that maximizes your conversions. Again, just like email SEO, you have to properly optimize your ads to see the best results. This means doing the research to understand your audience, find which headlines and descriptions which work best, which keywords to target, what graphics, if any, would resonate most with people, and whatever other elements come into play with your ads, whether you advertise on Google, Facebook, Twitter or one of the many platforms out there targeting the right audience is crucial to getting the best ROI. If you’re advertising ski equipment to someone who loves bowling, you’re wasting your money. Do your research, OK? I talked about channels that are great for generating a positive ROI. Now let’s get down to the math of it all. Calculating ROI isn’t really that complicated. The formula only requires a few steps, basically, to figure out how will your marketing channels are generating or why subtract the cost of your investment in whatever marketing channel you’re using from the gain of the investment. Then divide that number by the cost of the investment. Finally, multiply that number by a hundred to get the percentage. That sounds like a lot. I’ll break it down with an example. So say you get 10 sales from your sites. ROI effort’s worth three hundred dollars each. Your gain would be three thousand dollars. You spend 1500 dollars on your SEO by partnering with an agency. You would subtract the costs from the game to get the 200 and then divide that number by the cost, which is fifteen hundred fifteen hundred. Divided by itself is one and one times. One hundred is a hundred.