5 Ways Digital Marketing is Cost-Effective
Digital marketing helps businesses of all sizes make themselves more visible. However, considering how expensive it is to run a business, your company may be hesitant to spend extra funds without assurances.
There are cost-effective strategies to use online to further legitimize and attract people to your business and its products or services.
Whether it’s through social media, a website, or other means, subtle digital marketing tactics can make a significant difference in your organization’s marketability and profitability.
- Re-targeting Ads
Traffic goes beyond getting people to visit your website and making your business visible. For your company to succeed with a digital marketing campaign, you will need to generate targeted traffic.
Targeted traffic refers to website visitors who aren’t just browsing your site, but are actively looking for products and information. It creates better conversion rates when you can attract targeted traffic to your website as they are more likely to purchase a product or engage services and ask questions.
Good traffic is also needed for a more profitable return on investment. This way, your campaigns aren’t attracting people who are simply surfing the web, but instead, your ads are reaching people who inquire about what yout brand sells, or they buy right away.
One way to direct ‘quality’ traffic is with retargeting ads. Retargeting is an essential audience-building mechanism. With set parameters about your preferred audience’s online behaviors, interests, and demographic details, retargeting will place ads before those who would like to work with or buy from you.
In addition, retargeting can even be used on people who have purchased on your website or app once. The ads serve as a reminder of or introduction to your value. Seeing how many conversions come through and where they come from can help you fine-tune future campaigns even more.
2. Social Selling Can Connect & Convert
” 74% of B2B buyers do most of their research online before making a purchase.”
Consumers are savvier and more informed than ever before. Because of social media’s increasing influence, people use such channels to make intelligent buying decisions by researching products and making or reading recommendations.
Of top salespeople, 62% attribute closing more deals to social selling. More effective social selling training sessions are needed to take advantage of essential touch points in the buyer’s journey. With buyers spending more time researching, supplying them with the right help and tools while they’re looking for answers is crucial.
For social selling to work, you need a social media team that knows how to use social to connect with potential clients. Social media marketers need to monitor their profiles and provide value to prospects, engaging buyers on an ongoing, long-term basis.
Sharing meaningful, eye-catching content is the major key to making social selling work. By doing so, you establish connections with people and can play on that impact to enhance your sales efforts. Identify who you want to connect with and what platforms they use, and then plan your content for those targets. Create content that is engaging visually and provides a solution to the customer’s problem. With every helpful and positive touchpoint with a prospect, you are positioning your brand as an industry expert.
Businesses currently practicing social selling reported the following benefits: increased audience reach and the scope, contact with prospects throughout the buyer’s journey, increasing conversion rates, and improving sales efficiency.
3. Pay-Per-Click Gets to an Audience Sooner
If you’re running a business, especially a small one, pay-per-click advertising is a must. Around 45% of small businesses use PPC advertising as part of their digital marketing strategy. Your marketing budget isn’t expansive, so every dollar should be maximised.
You can develop greater brand awareness and get instant visibility to a relevant audience, something search engine optimisation (SEO) might take months to achieve.
In contrast, PPC allows you to leverage your best assets to generate leads. Ads contain a value proposition (usually in the headline and meta-tag) that your target audience of online searchers and website browsers will find relevant.
Be wise about the keywords and phrases bidded on and used, adjusting your choices slightly might not affect the volume of clicks, but it might leave more room in your budget. Strategically change things up and see where you can settle on getting the best ROI.
Using premium search techniques, PPC generates a high return on investment and allows you to limit expenditures to convert customers.
4. Brand Awareness on a Budget
Digital marketing experts increase brand awareness through the simplest means without exerting too much spending power.
Email marketing is an inexpensive and very effective digital strategy. Compared to other digital tactics, eMarketer reports that email can generate four times the ROI. For that reason, it’s the go-to strategy for most businesses.
It costs little to nothing to run an email marketing campaign with user-friendly email management tools such as Marketo and MailChimp. All that’s needed is persuasive text from the subject line to the body, a timeline that fits with marketing goals, an enticing call-to-action, and a great landing page.
When you have the writers and designers in-house who can produce those materials, you’re set. If not, outsource copywriting and design to make emails and landing pages more appealing on a limited budget. If you work with an agency, they can set you up with great resources.
Social media marketing, whether through organic posts or cost-efficient ads like influencers, can get you the attention you need. Take advantage of trending topics, hashtags, community groups, and influencers who fit in with the image you have created. With so many channels out there, building brand awareness doesn’t have to bust the bank.
5. Take Advantage of Social Media Influencing
Partnering with social media influencers is becoming a trendy way for enterprises and small businesses to increase outreach.
If your business is in retail, this is especially useful, whether you’re selling jewellery, accessories or any other fashion-related products. If you’re a large retail brand, you could offer a higher price item in exchange for a sponsored post by a notable influencer. Though you have to pay a sum upfront, influencers have loyal followings that trust their recommendations. So, the right partner can position your products perfectly for a spike in sales.
Tools such as Klout, Kred, and PeerIndex are helpful in identifying the biggest social influencers across the major social networks. Most influencers can be found on Instagram, ranging from fashion to the music industry, as well as sports and other fields. You can also see how they fit with your industry and target audience. BuzzSumo can point out those who write and present similar topics of interest, allowing you to carve out an ideal target market.
Don’t be afraid to contact influencers. This is what they do. Tag them on social media posts if it’s something the influencer can relate to and ask them for a share. Striking up a good bond with such people in the social media industry will make your business and its services more enticing to a wider scope of people.
These 9 tactics show the cost benefits of digital marketing across a range of functions in a business. The key to using them is to have the right talent in-house that can capitalize on the opportunities.
Whether it’s through social media, website, or other means, you will find that subtle digital marketing tactics can make an obvious difference in your organization’s marketability and profitability. Learn more digital marketing strategies at Premium School of Digital Marketing one of the top leading Pioneer Digital Marketing Training Institute in Pune.