Have you thought about how to increase your ROI (return on investment?) As a business owner, it’s important to think about how you will keep your return on investment high through your marketing strategies. Turning a profit is an essential element of a successful business. When you blow away all of the bells and whistles, that’s all that matters.
Wouldn’t it be nice to increase your ROI through one all-in-one marketing solution? In this article, we will attempt to look at some ways that you can do that.
How to Increase Your ROI Through Marketing
Your marketing plan is important for some reasons. It helps you get your message out to your target audience and increase your leads and sales. But it also helps you keep track of how you are doing with your expenses versus your results.
What about tracking software?
Tracking software can go a long way toward helping you improve your ROI. Google Analytics and other tools serve to illustrate how you are doing with your campaign strategies. But is this enough to accomplish your goals for your marketing while staying ahead of the game financially?
How to Find an All-in-One Marketing Solution
When you are looking for a marketing solution that does a multiplicity of tasks, you should think about what is most important for your business. Some of the criteria that you may want to consider are listed below.
- Leads generation– A good marketing solution should be a great leads generator. This is the first step of the sales funnel and you should be confident that your marketing tool is able to generate leads that pay off. A bad marketing solution is similar to “buying traffic” on one of the traffic generation sites. It may get you lots of traffic but not the kind of traffic that will produce the results you need. You need your marketing solution to create specific traffic to appeal to the people most likely to buy from you.
- Direct communications– A marketing solution should also allow you to communicate directly with your potential customers. When you can communicate with the people who are interested in your brand, you can create relationships that will help you to increase your brand image and find out what people want.
- Social media connection– Social media connection is important if you want to keep in touch with your target audience and make an impact. If you can find an all-in-one marketing solution that does this, this will be to your advantage.
- Ease of use– You want your marketing solution to be user-friendly to you and all of your staff to execute. Technical problems and difficulties can slow down the process.
- Web Analytics– If it’s possible, try to find a marketing solution that allows you to analyze how your brand is doing in the market. Knowing how your site is performing and what is working, will give you a great deal of information as to how you should proceed.
These are just some of the components of a good all-in-one marketing solution. Marketing is a complex process. It involves a wide variety of tasks that have to be achieved in order to accomplish what you need to.
It may be difficult to find one marketing solution that does all of this. There may even be other features you’d like to see in a marketing solution for your business. But do the research for yourself and compare products until you find what you want. A good starting place is a company known as GetResponse.com, which has become an amazing resource for not only automating many aspects of an online business but also for creating effective an effective email auto responder series. No matter what type of blog, brand or business you currently have, you can set up a series of emails to go out to your audience, while increasing engagement and conversions in the process.
Consider Colocation of Services
Choosing multiple types of tools and software solutions can be confusing. You may like certain attributes of a particular tool and others may leave you feeling a sense of lack in what you need for your business.
When you choose colocation, you are choosing to use one particular tool that does multiple tasks rather than multiple tools for your tasks. This simplifies things to a great extent because it allows you to spend your money for a solution in one place and then monitor how well it works.
The more you can simplify this process, the better you can have an idea about how to manage your expenditures and make it pay off for you in the biggest way.
Focusing on ROI
When it comes to ROI, you should use your analytical tools to achieve this. By seeing where your business is strong and where it needs improvements, you have insight into what will move your business forward in a way that will result in success. Analyzing your metrics and profits are essential to this process.
Marketo recent did a report of their own on the importance of content creation and ROI. You can see the responses from the campaign below. The three key areas of content marketing and it’s impact on a business came down to awareness building, engaging buyers and providing through leadership — all of which can become an effective means of ROI when your content is working to product quality leads and customers for your business.
You should not overextend your spending until you can afford to do so. This is something that Mark Cuban has often mentioned on the “Shark Tank” series. A self-made billionaire entrepreneur, Mark has the right idea about business. When he says you should not overextend, he means you want only positives and not negatives on your accounting books. If you own a business, you cannot afford to go into debt, especially at the onset.
That’s why he says you should not take out business loans, as well. While we are not saying you should never take out a business loan, the point is understood. If you go into the negative with your financials, it is hard to recover that because you are always going to be spending more money to move your business forward. If you do take out a loan or use any type of credit for your business, you should pay off the debt first before investing more money.
This is just a basic business and financial principle. We are not financial advisors so you should always consult with your professional accountant or others when trying to decide on the type of investment you need to make. The point is that you should monitor it regularly and see if it is working. If it is not, then you are not making a profit on your investment. At that point, you should stop and analyze what you need to make it work.
Experimentation is the Key
With anything on the internet, it is an experimental process. You may have to try one thing and then another to find what works best for you. The key is to think about how you can increase your return on your investment while spending your money in the right place.
How can you know if it’s in the right place or not?
Look at your all-in-one marketing solution and see what it shows. The great thing about having an online business is that there is a “digital footprint” with everything you do. This allows you to track customers’ behaviors, purchases, and preferences, as well as your business choices, which will result in a higher ROI.