Using Digital Marketing to Increase Your ROI
Gone are the days of TV commercials and billboards claiming their status as marketing giants. In 2012, digital marketing spending surpassed TV by $31 billion. Years later, it’s not hard to see why companies are investing in digital marketing. The explosive growth of social media and blogging has opened up new platforms where businesses can send targeted messages to an unlimited audience. Companies can even measure the results of these campaigns using tools like Google Analytics.
Digital marketing has revolutionized the world of business. However, if you want to increase the ROI of your marketing campaign, you need to know where to invest your money.
There are two main types of SEO: organic search results and paid search results. As you might guess, the latter requires ongoing payments to ensure a page continues to rank. Organic search, on the other hand, has the lowest cost per lead of any marketing method. Organic search results are based on relevance to the user’s query, as well as the authority of the site – meaning organic rankings have more staying power than paid searches. Using SEO reduces lead costs by 60%, so this tactic will undoubtedly increase your ROI. Visit www.seobank.ca to find out more or check out this cool SEO ROI calculator tool to see how SEO may work for you.
Blogging feeds straight into organic search. Not only will a blog drive more traffic to your website, but it also encourages users to like and share content, which increases your SERP and generates even more leads. Search engines love new content, and so do your customers, so blogging consistently is a smart move for your business. You can expect to pay $0.26 per word or $87 per hour for an experienced blogger. If you need further incentive to prioritize blogging, you should know that marketers who blog are 79% more likely to enjoy positive ROI.
Social media is an effective way to raise brand awareness and encourage users to share your content. Not only does it enable a massive outreach, but it also creates platforms for you to engage directly with your audience. Social media campaigns vary in price depending on the size and quality of your content, but you can expect to pay around $2,500 per month for Twitter, $5,500 for Facebook, and $1,000 a piece for Instagram and Pinterest. However, 91% of marketers experience more exposure after making a considerable effort on social media.
American marketers spend an average of $20,000 on video marketing in 2018 – but don’t let that figure scare you. According to Animoto in 2015, four times as many customers would rather watch a video about a product than read about it, while 48% of marketers plan to add YouTube to their marketing strategy in the next year. 84% of consumers will convert after seeing a product video, while 76% of businesses reported an increase in traffic thanks to video marketing, so the juice is definitely worth the squeeze. You can expect to pay anything from $1,200 to $5,000 for a video marketing campaign.
A consistent, well-executed email marketing campaign could increase sales, boost client loyalty, generate leads, and reduce marketing costs for your business. The cost of email marketing varies significantly between around $9 and $1,000. Costs are determined by factors like the quality of the subscriber list, technology used, and performance analysis. However, email is still one of the best ways to connect with a prospect, according to 26% of businesses. What’s more, email marketing has a higher ROI than social media channels, with emails edging out Twitter by 6%.