There’s only one factor that matters more than any other when it comes to any marketing campaign. The return on investment (ROI). To maximize your ROI and sustain it over long term your marketing campaign by definition will be an unquestionable success.
Long-term ROI is different than short-term ROI.
Marketing strategies depend on execution.
Every business is different.
Most business owners have heard about digital marketing but might never tried. The challenge is because they don’t understand how it works or how to apply it to their businesses. The reality is businesses that are so afraid to move in a new direction are missing opportunities for brand awareness. Competitors are getting their feet wet with technology because they are quickly moving ahead.
To tackle digital market marketers use multiple techniques showcasing there product to mass audience for best result of any campaign. They go from direct marketing to modern social media network or old school connecting people in comfort of their homes. Below are some of facts and figure of different marketing strategies that get the best ROI – return on investment.
SMS messages are great because they’re short and get straight to the point. With 160-character limit, organizations are sharp in their approach and don’t fill SMS messages with fluff and pointless information. Short, precise copy that grabs attention is a must, plus any links to vouchers, tickets, surveys, and attachments.
Research shows that SMS open rates are as high as 98%, compared to other marketing strategies. 75% of people have suggested that they’d be happy to receive an offer via SMS. This is why 65% of marketers say that SMS marketing is a “very effective” method for them.
SMS marketing is considered one of the most personal and direct form of communication, to reach out to the customers. Below are few benefits that overcome the other entire marketing platform compare to SMS
- Build Loyal Customers
- Generate word of mouth
- Improve communication
- Fast and Effective
- Cost Effective
- Straight to the point
- Time management
- High open rate
- Quicker customer feedbacks
100% people who get text messages are able to see right away, most people check their texts every 5 minutes. The text message campaign can deliver amazing results with 72% response rate, zero opt-outs, and a 125% return on investment.
Keeping an eye on your ROI is a good idea for all businesses using SMs marketing. When you understand the ROI you can determine if you should keep forth with your efforts or minimize them. You will know exactly how much is coming through the door and how much is being spent. There isn’t a better way to keep track of business expense and profit with this marketing campaign.
In 2018, SMS remains one of the most effective marketing tools. Tracking SMS campaign metrics will allow to optimize SMS campaigns and scale the most successful areas boosting ROI even more.
Social media marketing is another area where it’s technically feasible to pursue with only an estimate of time. Depending on the scale of your efforts, social media marketing could cost thousands of dollars per month. You can measure engagements, traffic, and conversions, but it’s hard to accurately quantify the reputation value your brand has generated.
It’s mind-blowing that many companies don’t know how much they’re currently spending on social media. It’s time to pay attention and find which social media channel is bringing the most revenue at present and why.
You’ve implemented a social media strategy—but is it effective? Measuring the return on investment for social media programs often is difficult for marketers. While many businesses are increasing resources to different social platforms, some struggle to determine whether these investments are worth it.
It’s hard to see how much revenue a Facebook post has brought in, or a tweet has increased bottom line. Instead of focusing on likes, shares, and followers, marketers must find meaningful data that reveals whether their content is working. Someone clicking a link to your site in a Tweet is always nice, but tracking such interactions shouldn’t stop there. For example, you need to know whether or not those clicks are resulting in sales or other meaningful interactions.
In order to get the most accurate numbers for social media ROI, set your goals based on defined actions. Specifically, actions that convert a casual browser to a lead and ultimately to a paying customer.
The key benefits of social media lies in relationship building. Relationships build trust and trust builds sales. Picture being able to talk with your customers one-on-one on a daily basis. The key is to know how to find the right people. Then understand their interests and problems. Driving results for social media take a lot of effort to validate; social media do have its precised benefits as follows
- Create Brand Recognition
- Generate A Conversation Around Your Brand
- Connect With Your Audience Through Social Listening
- Tell Your Brand’s Story
- Customer Service That Keeps Your Followers Happy
- Audience Research To Improve service
- Retargeting Audience
- Driving Conversions
- Paid advertising
It’s not surprising many businesses can’t measure ROI from social media, even though there’s great emphasis on social media marketing. People fail to realize that many of social media followers are not located geographically proximity to do business with them. Even though people interact with businesses through social media, but people tend to patronize business within a set geographical proximity.
Measuring ROI for social media efforts has been a continuous topic, determining whether the efforts are successful on social media. one has to bring in consideration many factors i.e. measuring engagement ( views,likes,share) audience reach and growth. For most of the parts, the metrics tracked relate to things such as like and comments rather than sales. An effective social media strategy tracking all aspects and converting them to sales can give up to 65% of ROI.
Offline marketing entails more traditional means of marketing services, Print advertisements, TV, Radio, brochures, newsletters, billboards, posters, business cards etc.
A decade ago, deciding which marketing media to invest in was simpler. You basically went with offline, online or a combination of both. Brands are getting smarter and strategic about targeting to reach the same audience again.
In those simpler times, offline platforms like television advertising were a cornerstone medium that could be trusted. Like newspaper ads that reach people while they are in their home. The radio, people are listing to ads while moving especially when seeking to enhance brand messaging. But what is the role they play in today’s environment where digital dominates.
The advent of new digital marketing options are promising ROI. Advertisers have thrown larger portions of their budget in digital media. This shift came naturally, as the expense of traditional TV/newspaper, are consider costly.
Unfortunately, online media has brought questionable content sources that don’t adhere to traditional journalistic ethics. The proliferation of click bait, Less-than-fact-based content has advertisers uncomfortable about online messaging is sent. The lack of credibility in content may rub off the trust on their brand image.
With all the hype surrounding digital media and social media these days. Businesses are tempted to put all eggs in one basket to maximum ROI for their marketing. That may sound like an easy fix. Different customers prefer different channels during buying cycle, a one-size-fits-all solution is unlikely to exist.
Offline marketing strategies use offline media channels to create awareness of a company’s products, services and brand. Although there’s a significant shift to online marketing initiatives, marketers using offline channels are still a fundamental aspect. Offline marketing aspects mixes together can generate
- Higher Authenticity Value
- Mass audience reach
- Convenient Means of Communication
- Face-to-face interaction
- Print advertisements in magazines and newspapers
- Television advertisements
- Outdoor advertising billboards and car signage
- Printed marketing material
- Word of mouth
- telecommunication approach
Different audiences tend to watch TV, read news or listen to Radio in their preferred way today. Opening the door for advertisers to customize and target marketing messages keenly. Before targeting, customization should also be derived by becoming more aware how specific viewers choose to have their message delivered. Advertisers who truly tap into viewer mindset will be ahead of the game when it comes to advertising campaign effectiveness.
The main deciding factor why online marketing is more beneficial than offline is because 90% of customers will be online. Be it on phones, laptops, r tablets, the vast majority of existing and future clients are surfing the web.
If we talk about offline marketing before 10 years it would had added great benefit to business campaign. In modern age using offline marketing bring in high cost which eventually decreases the return on investment. Today most of the companies look for smart ways to cut budget and get most out of any marketing campaign. Looking at metrics of offline marketing compared to online the ROI percentage is pretty less with an estimate of 45% ROI of any marketing campaign.
The ROI of any marketing campaign ultimately comes in the form of increased sales. It’s good to run calculation using sales less than average organic growth on regular basis. The result will take time to show up due to feedback from running campaigns. As a result, if the ROI isn’t there after a few months, it might be the wrong campaign for targeted market.
Out of significant marketing channels listed, it’s not tough picking a clear winner, especially after acknowledging the considerations outlined. In term of achieving the return on investment, social media marketing can bring out some good results. The focus get scattered in multiple aspects not targeting on single direct goal. Offline marketing work somehow for majority of high end businesses but to limited audience with having a strong capital backup. However, if to pick one “best” strategy when it comes to ROI, SMS marketing hit the nail on the head. Thanks to its multifaceted range of effects, fast reach, permanent value, and potential for compounding returns. There’s just no better way to spend the marketing budget and get the most out of it.
Measuring ROI in marketing world is something that needs to be done. Whether business is new or been around applying SMS marketing will play a major role in success. SMS marketing works and will provide with an amazing ROI that will be enjoyed writing on paper. Multiple marketing strategies are available to try but focusing one thing
Don’t Chase the Platform, Chase the ROI