In order to maximize your marketing performance, it is crucial that you carefully monitor your online advertising dollars and put your money where you will receive the biggest ROI. The ROI is a calculation of the amount of profit you make from an online marketing effort, divided by what is paid for it. In ideal situations, you should earn between five to 10 times more in profit than the amount that is spent on your marketing effort.
There are several different methods that can be used in your online marketing strategy to increase your site’s overall performance.
There is no better marketing effort than referrals. Referrals are powerful because they come from trusted sources. A friend or family member is not going to steer someone in the wrong direction, which means that a referral will provide you with twice as much attention as any other online marketing effort that you may use. In order to improve your performance, you need to make giving referrals appealing. This can include offering an incentive or other benefit for sending other customers to you for the service or product you offer.
When it comes to online advertising, an extremely inexpensive and effective method is through email. This will help you keep in touch with past customers, who have “opted in” to receive your emails. While this is extremely cost-effective, it will also only reach current customers.
Hubspot experts have some very informative stats regarding search marketing efforts. These stats show that 61 percent of consumers start with an Internet search and 44 percent of shoppers will begin with the use of a search engine. This means that online advertising via search engines can lead to an immediate ROI for your online advertising dollar.
Modern consumers require that you are where they are – this means social media. It is estimated that 56 percent of the world population is on social media, and 98 percent of people from ages 18 to 24 use this source of interaction on a daily basis. If you ensure that your presence is on social media, and that you offer some sort of value, you can gain a huge following as well as an increase in the number of conversions.
When it comes to improving your online marketing performance, it comes down to being where your potential customers are and then reaching out to them with something of value.