Digital marketing is essential for efficiently communicating with potential and existing consumers. It does not matter what type of business you are running. Nowadays, digital marketing is necessary. Companies have fierce competition to stand out and attract consumers. Managing digital marketing well is challenging because of the competition and its ever-changing nature. As a manager, you have to follow every single change in the digital space. Slight updates in legislation could change the way you deal with digital marketing, which can be quite frustrating. In this article, we will share 6 ways to improve your digital marketing performance to help you stand out and get the best results available.
How to measure digital marketing performance?
First of all, you need to analyse how your company measures marketing performance. There are general tools that measure different variables such as conversion, engagement, views, etc. Every company has a different focus in this area depending on the business model and existing goals. Online retailers focus on conversion, while other companies might concentrate on lead generation.
You will have to focus on the ROI of digital marketing. Measure all the costs of digital marketing: advertising costs, staff salary and administrative expenses. You also have to calculate digital marketing-related accomplishments. However, it can be tricky to identify which outcomes are directly related to digital marketing. Especially for small businesses measuring the metrics might be too complicated. In this case, you can just find out what is the cost of digital marketing activities per sale.
This is a simple measurement that can be very informative about your performance. Your goal is to decrease the cost per sale over time. This task is quite challenging because the costs of digital advertising are rising and becoming more expensive. Concern regarding this matter is very common and you most certainly have experienced the effects of it. Forbes article projects the changes in spending due to rising prices. This trend makes digital marketing efficiency even more important. Strive for continuous improvement of the index mentioned above and make better use of resources. Here are several ways to help you improve your digital marketing performance and increase efficiency.
1. Research User Behaviour
Knowing your consumers is one of the most important things in marketing because of its importance for long-term success. A user-centric marketing approach is essential for efficient digital marketing. To achieve this, you must research users and study their behaviour. Fortunately, digital marketing offers a lot of tools to analyse user behaviour. Tools such as Google Analytics can be used to observe behaviour and make informed decisions.
Pay attention to behaviour metrics such as session duration, new VS returning users, user navigation through the website. Add information from different social media channels and you can get a clear image of how users interact with your business. Digital marketing gives you the opportunity to get real-time data. This is an actual privilege that you don’t get through other marketing channels.
2. Focus on Conversational Marketing
Users want high-quality and personalized service in a very automated space. This is quite contradictory because consumers want the attention and care that one can get from human interaction while striving for speed and instant response which can be challenging for a human being. This is why you always have to update and optimize your chatbots, automated e-mails and messages. Concentrate on building a conversation rather than just giving a message. Create a system that considers consumer feedback. If done correctly, you can gather useful information while developing connections with users.
Conversational Marketing is one of the growing trends we have been observing over the past couple of years. And have no doubt, it will be one of the cornerstones of digital marketing in the near future.
3. Aim for the Quality of Digital Marketing Activities
The fierce competition in the digital space makes us think that we need to do as many activities as possible. While it is wise to communicate with your audience regularly, quantity should not be the goal. A lot of companies make the mistake of sending too many emails, which instead of increasing their performance has negative effects. Emails without clear messages and goals will end up in spam and cause a high rate of unsubscribes.
Digital marketing activities do not bring positive results by default. They can harm your business if you post too much irrelevant content. A lot of emails can be simply annoying for potential consumers. You could damage your brand irreparably. Do not let the hype of constant posting tempt you to decrease the quality of your work.
4. Tailor Digital Marketing Activities for Your Customers Not for Traffic
Your goal as a manager is to deliver results that positively affect the company’s sales. Remember, nobody needs thousands of website users if there is 0% conversion. Unfortunately, digital marketing specialists tend to focus on high engagement and reach without measuring the actual effects of those metrics.
The most common example of this is on-page SEO. SEO specialists focus on keywords that will bring a lot of visitors to the website. And they are correct to consider that, but the manager’s job is to understand the customer intent and make sure the keywords are not solely based on the potential traffic. Getting big traffic is awesome, but your goal is to gain actual customers. So, you might want to consider choosing less popular keywords that target your perfect audience, rather than use keywords that deliver huge traffic but not sales.
The same goes for every other digital marketing activity. It is extremely easy to get caught up in reaching as many users as possible, but is it efficient? You need to see the difference between good metrics and actual results. Because a high number of visitors is not only the measurement of success, it can also be an indicator that you are wasting your budget.
Nowadays working in digital marketing is challenging as ever. Metrics that were signs of success 5 years ago might show something different today. The most important thing is to focus on delivering results that affect the company in a real life. Concentrate on getting conversions, not just generating leads. Work towards increasing sales, not just website visitors. One does not exclude the other however, they should move at a similar pace. There is no point in reaching millions of users if your revenue stays flat.