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If your internal or external marketing team is working hard, yet you see a low return on investment, there might be something wrong. Maybe you’re targeting the right audience, or perhaps you’re taking the wrong approach.
In some cases, you are taking the right steps, but not fully committing to them to see the full benefit for your business. Here is a list of three things wrong with your marketing and suggestions on how to move forward.
1. Low PCC Budget
PCC means Pay Per Click, where you pay a fee each time someone clicks on your ad. Often, a client will come to us and say they want to try it out first with a small budget. We completely understand this idea. Unfortunately, it doesn’t work. If you’re “dipping your toes in” with only $200 a month, you won’t see results and, thus, will assume PPC is a waste of money. It’s not.
With marketing, it is essential to be all in. You have heard the term “you have to spend money to make money,” and it is no different when it comes to marketing your business.
PPC ads are a great way to drive traffic to your website or landing page, ultimately leading to higher brand awareness and more customers. These ads also give you a large amount of data you can use to better your business. Next time you are planning your budget, make sure to allocate an appropriate budget for PCC (we can suggest based on your industry), and you will see your return on investment.
2. No Strategy
Having no strategy in marketing is like driving to a new location without any signs, directions, or a GPS; you wouldn’t do it! You cannot do marketing “things” without looking at the whole picture. If you are going to take the time and effort to market your company, then spend some of that time coming up with a plan for your marketing.
Strategy should be your top priority before beginning the marketing process. What we mean by this is making sure to choose not just any marketing tactics, but the correct approaches to reach your specific customers. In your research, you should discover your ideal customer’s age, income range, location, or other information about his/her likes/dislikes, and reasons to buy your product or service. Only then can you decide which marketing tools to try first. Your strategy should have built-in checkpoints at which you assess whether those tools are working.
Remember that customers can easily get confused if your business is not heading in one particular direction. If you are looking to make a profit and do better for business, make a plan ahead of time. Know the plan and lead your customers down the correct route.
3. Not Adjusting as You Go
Adjusting your marketing along the way — or at least taking a moment to make sure you’re on the right path — is critical to continued success. Sure, you can keep doing the same thing you’ve been doing, and if it’s working, that’s fine. But customers change over time, our ways of doing things change, we find new things appealing. Make sure you’re not holding onto the old “because it’s how we’ve always done it.”
On the flip side, you don’t need to try every new marketing tool that comes along. TikTok is the latest social media platform. Is it right for your business? Maybe not. However, you should be aware of new ideas in case they are worth trying.
Making sound decisions about your tools may mean the difference between moving forward in your company or losing customers.
Contact us today to learn more about how we can create a strategy and budget for your marketing efforts in order to optimize your time and funds.