Not all digital marketing strategies are created equal: Some are more cost-effective than others. This post takes a look at nine of the ways you can get the most bang for your buck.
1. Sales Over Social Media
Social media is a very powerful tool for making sales. As explained by this article from the Digital Marketing Institute, social selling both accelerates the sales process and keeps your business at the top of customers’ minds.
2. Use Influencers
Influencers are another way to leverage social media. By working with influencers to spread the word about your company, you’ll be tapping into audiences that the influencers have already built.
Retargeting is a technique that shows your company’s ads to visitors who have previously interacted with its website. This is a way to capitalize on potential customers who have already shown a level of interest in your company.
4. Pay-Per-Click Advertising
Pay-per-click (PPC) advertising allows businesses—particularly those with small budgets—to stretch every marketing dollar. It only costs your business money when customers click on your ads.
5. Analytics Usage
One of the most important digital marketing strategies involves continually monitoring the performance of campaigns. Metrics like return on investment (ROI), returning visitors, and others make this possible.
6. Analytics-Based Revisions
Keeping track of metrics pays off once you are able to make adjustments to your marketing efforts. For example, you might identify one type of ad that simply isn’t working and discontinue it.
7. Focus on Low Customer Acquisition Costs
Careful ad construction and targeting are ways to keep your customer acquisition costs (CAC) down. Like ROI, this metric is worth continually monitoring.
8. Create Cheap Content
Among digital marketing strategies, content marketing can be one of the cheapest. For example, your company might produce a series of blog posts that draw customers to your website—all at a negligible cost.
9. Inexpensive Emails
Because it costs so little to create an email, email marketing efforts are generally cost-effective. Another selling point is that they can be precisely targeted.