Top 25 Digital Marketing Mistakes That Brands Are Still Making In 2021!

Top 25 Digital Marketing Mistakes That Brands Are Still Making In 2021!

It’s 2021 and no matter what your line of business is, we are sure that digital marketing is a core part of your marketing. With an average person spending 6 and half hours online every day, there are high chances that your next customer will find you online. That is why every business must have a rock-solid digital marketing strategy. But businesses make mistakes, and here are few common digital marketing blunders that businesses often do.

 

Online Marketing Mistakes Businesses Are Doing 

 

Not Having a Clear Marketing Goal : 

Rudy Guilani rightly said, “Hope is not a strategy,” it certainly isn’t if you are doing digital marketing of your business. You need to have a clear marketing strategy. What do you want to achieve in the next 3 months, in next six months, in 1 year, and in 2 years? Many marketers do not clearly define their goals which is a recipe for disaster. According to co-schedule’s research 

“Marketers who set goals are 376% more likely to report success than those who don’t.”

Let it sink in.

So first thing, clearly define your marketing goals. Have goals that are aligned to the business goals of your organization. Make sure the goals are SMART

S- Specific

M- Measurable 

A- Aspirational

R- Realistic

T-Time-bound 

 

Here’s an example of SMART Goal: By 30 June 2021, we will increase membership sign-ups by 10%. The goal is specific, measurable, aspirational (considering 10% by June is little out of reach), realistic, and time-bound. 

Not SMART Goal: Increase sign-ups 

 

Undefined Target Audience: 

Many times marketers do not clearly define their audience, which simply means they don’t really know what they are doing. If you try to be everything to everyone, you’ll end up being nobody to no one. So, define your target audience first. Analyze what is your market and who is your customer? Whom are you serving? Do not blindly guess it. Look at your current customer data and if you are just starting then look into your industry and then use tools to get data instead of making educated guesses. You can hire a customer research firm to help you out. Creating customer personas can help you clearly define your target audience. Although simple demographics can be a starting point in defining your target audience, it surely won’t be enough. Spend more time to understand your customers, their needs and wants, and their preferred kind of content. You can use psychographics for improving your targeting so that you can send the right message to the right audience using the right channels. 

 

Not Staying Organized:

It’s almost impossible to do marketing without staying organized. There are too many things happening and if you are not organized, you’re surely going to miss out on the most important ones. So stay organized, document your strategy, maintain a content calendar, and use a project management tool to manage your tasks and team. 

 

Not Personalizing the Experience:

It is very important to use personalization in your marketing. If you don’t personalize, you will never be able to connect with your audience. Using your prospects’ name in the email while sending a BCC email to your entire list is just unforgivable. 

personalize marketing

Not only your emails but the entire experience of your customers should be personalized. You can learn from their purchasing history, their interests from the psychographic analysis that you have done, and then tweak your message according to that. This will not only gain their interest but also make them more loyal to your brand. 

 

Not Being Data-Driven:

If you are still making your marketing decisions according to your gut it’s time to wake up and look at your calendar. It is 2021 now and you just cannot ignore data. 

Please look into your data to make meaningful decisions about your marketing’s next step. See what your analytics is showing full stop and take a look how your customers are responding to your campaign. 

 

 What do the numbers suggest? 

Are you moving in the right direction or do you need to make any changes in your campaign? The biggest advantage that you have in digital marketing over conventional marketing is the kind of personalization you can do and the amount of data that you can collect to measure your campaign. Make sure you use the power of data to boost your marketing.

 

Not Testing Enough: 

Not testing your marketing campaigns means not really knowing what is working and what is not. You should split test your campaigns, be it email marketing, running ads, where the form should be, or what the call to action must say. Split test, create a control group, send them one information, create a test group, send them the other and see which one is performing better. 

All big companies do a lot of split-testing to ensure they are getting good results. Booking.com, one of the leading digital travel companies, does almost 25000 tests a year to make sure their customers get the best experience and they make better decisions. So, don’t miss out on that. 

 

Ignoring SEO:

Ignoring SEO today can be one of the biggest mistakes a marketer can make (Also Read – 20 SEO Mistakes and How to Avoid Them).

  1. 93% of online experiences begin with a search engine .(Search Engine Journal).
  2. 89% of online purchasers used SERPs to make their decision (Dezzain) 

These numbers don’t lie. Search is a big part of your customer’s journey and you cannot simply ignore it. Even if you think there’s too much competition in your niche, and it will be difficult for you to get results organically, here’s a data point for you: 

50% of searches are long-tail keywords – four words or longer (Word Stream)

Any company that focuses on SEO, will be able to rank for their long tail keywords. Focusing on SEO will give you more visibility and with time reduce your marketing costs to get similar results, thus increasing your ROI. 

{ If you need help with SEO, you can contact us or look at case studies to see how we’ve helped our clients with SEO. If you are doing SEO with no results, please visit [Seo Ranking Factor ] or let us audit your current SEO strategy }

 

Avoiding Social Media:

On an average, people spend 2 hours and 32 minutes on social media everyday. That is a lot of time. Social media gives an opportunity for your business to engage with your target audience. Be a part of the community or build a strong community. 

Here are three social media mistakes businesses are doing:

  1. Many businesses completely ignore social media and are not even listed there.
  2. There are some who have basic accounts set up but they don’t do anything with their accounts
  3. Keep posting stuff that has no value and hence no engagement.

You need to create a social media strategy with an end goal, you should focus on: 

  • Building your brand on social media
  • Engaging with your audience by posting questions, facts and running engaging facebook campaigns.
  • Replying to the queries and comments of your audience 

 

Not Investing in Content: 

Content is the king and every business should invest in developing quality content. This is the best tool in your inbound marketing kit and it is rewarding too! 

A research by Demand Metric confirms that: 

Per dollar spent, content marketing generates approximately 3 times as many leads as traditional marketing. 

So invest in content. Understand your business and see what kind of content will be most useful for your business out of these.

Content types

Wrong Content Distribution Strategy: 

A research by SEMRUSH shows, 

94% of the time, social media is used to distribute the content by businesses.

percentage of content distribution

Type of content they produce: 86% of the time, content produced is blog posts. 

Type of content they produce

And blog posts are not the most optimal kind of content for social media. If social media is going to be your number one content distribution channel, focus more on something visual such as images, infographics, and videos. 

 

Ignoring Mobile: 

Ignoring Mobile

Source:BroadBand Search

Mobile traffic has increased 222% in the last 7 years and now 53% of the entire internet traffic comes from mobile. You need to have a mobile-first strategy: 

  1. Is your Website Mobile Optimized? Take a test here
  2. Are your emails/newsletters designed according to mobile 
  3. Do you analyze how people are engaging with your digital assets on mobile?

 

Ignoring Videos: 

Video is huge. Youtube is the world’s 2nd largest search engine, Facebook, Instagram are all promoting videos more on their platforms, and with increasing internet speeds, people are spending more time watching videos than ever.

  • Videos are shared 1,200 percent more than links and text posts combined (Source:jeffbullas
  • By 2022, online videos will make up more than 82% of all consumer internet traffic — 15 times higher than it was in 2017. (Cisco)

If you are still not using it, you are missing out on big opportunities. Videos are changing the way people are consuming content. Be a part of it. 

Here are few things you can do:

  1. Videos on Youtube
  2. Stories 
  3. Webinars 
  4. Live streaming 

 

Missing Out on Viral Loops:

Viral loop is the method of how you can use your current users/customers to invite your next customers. It’s growth hacking. 

It happens when the product will serve better if your user gets another user on the platform (network effects) 

For example: You’re on Facebook because your friends are, if you are using Skype,you are using whatsapp, you need your friends to be on Whatsapp/Skype as well for communication. 

Or it happens when it gives bragging rights to the people: 

Just see how emails have a signature at the end Sent from my iPhone”.

If you’re on a gaming app, you create leaderboards and encourage your users to share their scores on social media or challenge their friends. This is a viral loop. 

 

Focusing on Quantity instead of Quality:

Lot of businesses fret over the numbers they want to hit, for example:

  1. We will publish 10 blogs a month
  2. We want to do 12 tweets a day 

Both of these goals are fine as long as they are bringing the right kind of engagement, but if you do not focus on creating something valuable, it’s not going to bring any reward to your business. 

An Ahref study shows that 90.63% of all pages in our index get zero traffic from Google and if you are posting 10 blogs a month hoping to get more traffic from Google, you might be doing it all wrong. So instead of focusing on quantity, focus on quality. I want to publish 2 “rankable” blogs instead of 10 might be a better goal. 

 

Not Creating Subscriber Lists:

Not everyone who visits your website is going to buy something, but that doesn’t mean the user cannot buy something in future. But to make sure that you have a chance of converting users in future, you need to engage with them. 

If someone has read an entire article on your website, he probably found some value in your content and might be interested in receiving more information from you in future and you might get business in future. So ask people to subscribe, and have a marketing strategy to send your subscribers personalized and useful information. 

According to a survey by BtoB magazine:

59% of B2B marketers say email is their most effective channel in terms of revenue generation.

A 2019 report by DMA suggests a return of $42 on every $1 spent on emails

stronger ROI on email

An email list is the first step for a successful email marketing campaign. So work on creating your email lists. 

 

Spamming the Inboxes: 

Many marketers do not understand the difference between email marketing and blatant spamming. No John, sending an email to 10,000 people with 0 personalization and no credibility is not email marketing. People get thousands of such mails and there’s no way you are going to grow your business by irritating them. 

 

Not Prioritizing on Customer Retention:

It’s cheaper to retain a customer than acquire a new one and yet many times, businesses are too focused on acquiring new customers but not trying to retain/ upsell to their present customers. 

What are you doing to retain your customers?

Does your strategy talk about steps you are taking to increase customer retention? If not, start doing it today!

 

Ignoring Abandoned Carts :

Customers who added products in the cart are only a step away from the sale.

Are you actively looking for what’s the reason for abandoned carts?

Baymard’s research shows these reasons:

reason for abandoned carts

As a marketer, make it as easy as possible for people to checkout, only ask for information that is required. Don’t force account creation, just create an account by default if you want. 

 

Not Measuring ROI:

Not measuring your ROI is the same as playing blind. Without an eye for ROI, you might end up losing a lot of money with not results. 

How much are you spending on your marketing?

What kind of results are you expecting?

What’s the return over your investment? 

Is the money spent well or you could have achieved more ROI by doing something else? 

These are the important questions you need to ask while marketing your business online.

 

Not Being Agile:

Marketing strategy is made once a year, but customers are evolving every day. Your marketing depends upon externalities as well. What is happening in the world? What’s your competitor doing? How is the ecosystem evolving? You need to be agile to see the changes happening and be quick to adapt. 

For example: If you’re a software company in the times of Covid-19, with the outbreak of the virus, your value proposition and marketing might change from how you can increase business to how you can help other businesses retain clients, or cut costs. Your messaging will become more empathetic because of the global pandemic.

 

Working in Silos:

It’s a mistake that both big and small companies make, marketing teams working in silos and not collaborating with other teams.

Different channel teams working in different silos make the situation worse. Big companies have different divisions for paid marketing, email marketing , SEO, and all of them work in silos. 

This kind of structure can reduce the effectiveness of your marketing, with different teams trying to send different messages. All these channels compliment each other. So they need to collaborate.

If you are running a social media campaign, your email marketing team must know about it. If you are going to do ads in newspapers, your digital marketing team must know the same. 

Small companies hire multiple agencies or freelancers to take care of their marketing. They need to make sure that they create enough communication channels amongst them so that they have the complete visibility of the campaign and they can together get better results. 

 

Wrong KPIs:

Once you have clear marketing goals, make sure you track the right KPIs. A difference in what you want to achieve and what KPIs you track can ruin your marketing. For example, if you want to increase engagement on your website, then tracking bounce rate, returning customers become more important KPIs than the total traffic. 

So clearly align your KPIs with your goals. 

 

Doing Everything Yourself: 

You cannot do everything alone, you need support from people who are experts in their fields and can help you get better results and also save you money. 

If you try to do everything yourself, you’ll end up leaving a lot of things midway which is the loss of money, time, and opportunity for your business.

Do what you are best at and hire experts to help you with the rest of the things. This will give you time to concentrate on other important things and will help your business achieve more. 

 

Not Using Marketing Automation:

With no code revolution, you can automate a lot of your marketing tasks so you can spend time on effective things and not only on gathering data. Not doing marketing automation means spending time on activities that are repetitive. 

You can use Zapier, Google Sheets add ons, or hire someone like us to automate your marketing so that you spend the most time on things that matter. 

 

Ignoring Collaboration:

Always be open to collaboration with others. Be it accepting/writing guest posts, running a combined campaign or simply doing shoutouts for other businesses. When you do it, not only will you gain additional visibility to a new set of audiences, but also build trust and network in your ecosystem which can help your business a lot. So, think about collaborations, help others succeed, and you will succeed with them. 

What do you think? I am sure you’re doing the majority of things right. What’s the one thing that you’re going to do from now on? What’s the one thing that you’ll fix in your company’s marketing?

Let us know and we will help you bring your business back on track and grow digitally!

 

Should You Shift Your Digital Marketing Agency? 14 Signals That Say Yes!

Should You Shift Your Digital Marketing Agency? 14 Signals That Say Yes!

Phil Knight, the American Billionaire Businessman famously said ‘Play by the rules, but be ferocious.’ No doubt, it entails quite a passion to get a foothold in the business world, but what if the agency you pick to outsource your online marketing doesn’t live up to the expectations? 

Hiring the best digital marketing agency is a considerable decision but with everything done right, it can take your online business to the next level. This especially holds true in the current scenario of the pandemic as the matter of financial crises have urged for better business strategies. According to one of the sources, 80% of executors will now explore and surge their investment in outsourcing.

From offering the expertise to help in accessing the advanced insights, professional agencies present plentiful benefits. However, since digital marketing is all about being soundly tactical, the hired agency going pear-shaped can collapse the system. Thus, as soon as you experience any red flag, or start feeling that the collaboration isn’t going smoothly for your business, shift to the better one to save you money, time, and effort. Here are the 15 major signals that will help you to be widely awake.

 

They Do Not Have Transparent Business Profile

The business profile is a quick look into a particular company that ensures the reliability of its service. A comprehensive overview or background check of the digital marketing consultant is an indispensable decision that needs to be taken by clients. The business profile involves products and services, years of experience, mission, achievements, and customer reviews. However, if the information associated with any of the elements is missing or doubtful, it is better to cast out the selected agency.

 

  • They Do Not Commence What They Commit

According to Forbes, US digital marketing will spend nearly $120 billion by 2021. In other words, the surging trend of digital marketing is an alarm for businesses to let them gear for more competitiveness. The proficiency of a marketing firm plays a crucial role in this aspect but choosing the one that cannot practice what they preach results in challenges. Most marketing agencies often ensure in the beginning that they can do anything but as it is said ‘action speaks louder than words’, the better would be to delve into their expertise by checking the professional website like LinkedIn.

 

  • They Do Not Comply With Your Business Needs and Strategies

Even after collaborating with you for a long time, if your agency fails to understand your business base and needs, it is definitely not worth your time and money. Below are the hints that the selected marketing company doesn’t have knowledge of your business.

  • They do have a grasp of your strengths and weaknesses.
  • They can’t provide insight into customer behavior.
  • They use the same strategies and techniques for all clients.

 

  • They Are Not Able to Meet The Set Goals

Meeting the set goals at particular deadlines is one of the key attributes to ensure the efficiency of the business. In case, your marketing agency is not productive enough to accomplish the discussed goals on time, it is better to give a thumb down. This is direly needed if the non-fulfillment of commitment by the agency is a frequent event.

 

  • They Do Not Offer Results That Worth Your Money

Seeking service from the experienced digital marketing or SEO service providers can sometimes be expensive. However, even after achieving a heavy paycheck from you, when they are not able to offer the prominent service and efficiency in their service, it shows their lack of motivation and carelessness. All these essences are sure signs that you deserve a better service provider.

 

  • They Are Not Proficient In Communication

Consistent and effective communication with your experts is the key to make your campaign hit the jackpot. Whether or not your digital marketing experts are productive and experienced but if they lack in having sufficient touch with you, it may result in certain loopholes. Thus, it is suggested to always determine the tone, methods, and communication behavior of the experts before making them a part of your campaign.

 

  • They Are Not Consistent In Reporting Results

A report by eMarketer cleared that one out of three US digital media professionals considers ad-fraud as the major challenge in marketing. And, now with the businesses changing their game to cope with the financial crisis during COVID-19, the number of scams and frauds will be on a spike. Weekly and monthly reporting is the only solution to evaluate the credibility of hired digital marketing services. Failing to provide sufficient information or report their findings not just makes you doubt their credibility but can also divert your business strategies in the wrong direction.

 

  • They Do Not Have Precise Strategy 

To make your campaign set a cut above the rest, it crucial to frame and work-upon the splendid strategies. But if an agency while communicating with you doesn’t share an innovative strategy or excludes your business goals, KPIs, success metrics, timelines, and other attributes, the chances are that it may let you down in the future. Thus, it is better to change your experts before you suffer the loss.

 

  • They Do Not Offer Personalized Service

In business ‘one size does not fit all’. This is the reason, the experts or the service providers offer bespoke services to satisfy the unique needs of every business client. On the contrary, any agency unwilling to blend the services as per the client’s demand is a big no in today’s time. One should always look for the experts who are interested in knowing your business and needs so that you will be presented with what is exactly best for your campaign.

 

  • They Do Not Ask For Your Feedback

Customer feedback is a significant element for any service provider to be better in their role. Any digital marketing consultant failing to care enough about client’s feedback shows their lack of interest in achieving customer satisfaction. This also proves that they aren’t ‘result-oriented’ and will not be there for after-service support when you need them.

 

  • They Do Not Abide By Recent Trends

Trends in digital marketing evolve continually and abiding up the current scenarios is the only way to work in the right direction. For instance, The facts that 69% of users prefer chatbots over calling, Instagram overshadowing Facebook in terms of customer interaction, Email getting more personalized, and others are all that 2020 is beating the drum for. Thus, professional digital marketing agencies making use of every channel will not create a buzz for your campaign, because all it matters is the relevance of the platform and consideration of recent trends. 

 

  • They Have Tracking Issues And Substantial Discrepancies

Tracking the impressions of marketing is an integral part of better marketing. If your digital marketing experts harness their custom-made tracking tools and end up with minor discrepancies, that is up to 20%, it should be regarded as normal. However, the disparities above the listed percentage is a red flag as this can result in the inaccuracy of reports. This also delineates the number of errors done by the side of the agency and marks their nonprofessional attitude and so it entails you to give them the brush off. 

 

  • They Ignore Competitor Analysis

To set the cutting edge in the enormous competition in online business, diving deep into competitor statistics is an essential activity. There are some specific marketing tools that help you evaluate your performance in comparison to competitors, which is a solution to do much better in the future. Nevertheless, skipping the regulation of competitor analysis by professional digital marketing service providers can make your business stand to face the challenges. 

 

  • They Cannot Market Themselves Better

One of the vital factors to determine the proficiency of a marketing agency is to have an insight into its SEO performance for themselves. If the hired consultant cannot make them position well among the competitors, there is no chance that they can offer something outstanding for your campaign. It’s then high time to move on with some reliable and better agency.

 

Bottom Line

Choosing the marketing company that works in your best interest is what you need to ace the game of your digital marketing campaign. The above listed fourteen red flags make you understand that the situation is dicey and shifting the service provider is the only solution left to get back in the game.

Explore how WebSpero Solutions, the Award-Winning Digital Marketing Agency can help you fix your problems and drive results that are worth your time, money, and goals. Contact us today!

 

Social Media ROI Polarizing Digital Marketing Trends

Social Media ROI Polarizing Digital Marketing Trends

When 42% of the world’s population is using social media, one cannot deny the fact that people are already interacting with brands through social media. 

 

This has made social media marketing a crucial element in digital marketing strategies. It offers an excellent opportunity to businesses of all sizes to reach audiences globally. Although social media marketing is always on the rise, the fundamental problem is that companies are still struggling to measure their effectiveness. 

 

This post will help you in understanding how social media ROI is crucial to see how social media efforts are contributing to the success of your business.

Challenges of Measuring Social Media ROI

 

ROI

 

Social media is no doubt a powerful tool for digital marketing, but its return on investment is difficult to calculate. Evaluation of available data is not an easy task because there are no specific guidelines to follow. For instance, how can you figure out the return on investment on a particular boosted Facebook post? The effectiveness of content is not always measured on the basis of shares and likes. You need to focus on the final outcome. Don’t worry if you are new to this concept. Merely 2% of companies running social media marketing campaigns measure their customer service metrics. Around 73% of the company’s efforts stop at the tracking phase only. As the efforts are funneled further, the percentage reduces followed by measuring engagement and conversion for measuring ROI. Consider this new challenge as an opportunity to lead the current cutting edge market of SMM. First of all, we need to understand the factors influencing its quantification i.e. 

  1. Upsurging website traffic
  2. Increasing exposure
  3. Sales lead generation
  4. Developing a supporter’s base
  5. Business partnerships growth 
  6. Sales boost 

 

Let’s understand the challenges every social media marketer has to face while quantifying the Return on Investment:-

 

Precise tool for ROI measurement 

 

Not only for you but social media is a new marketing channel for most marketers. Still, there is no conventional tool to measure social media impact on revenue precisely.

 

Prior experience and digital content creation

 

Influential content creation on social media is not an easy task. Lack of adequate resources is the main reason why most businesses consider compelling content creation as a big challenge. Also, lacking experience as a beginner creates several issues in understanding complexities.

 

Strategy development 

 

You cannot achieve the social media marketing objective by just randomly posting promotional content on social media platforms. A strategy is required to identify the most appropriate platform and choose a suitable tracking tool according to a particular business requirement. 

 

Unreliable data source 

 

Social media is more liberalized than the rest of the World Wide Web. Therefore, the risk of collecting fake data is higher. Fake IDs on your targeted social media accounts can easily affect the data accuracy. 

 

Four different Techniques to Calculate Social Media ROI

 

It’s time to focus on the solutions rather than circling around the challenges. Here is a list of four different formulas to quantify the return on investment with better precision. 

 

How to Calculate ROI With The Cost Of Goods Sold

 

Marketers use the gross profit to calculate ROI. However, they often ignore the cost of goods sold. Let’s see an example. Your investment of $100 in Instagram ads earned 10 sales at $25 each product. The total revenue is:

10*$25=$250

Now, your Instagram ads spending is $100. 

$250-$100=$150

The return on investment is 150%. This is an impressive return on investment. Though easy, but not a very accurate method for calculating ROI. This method does not consider your profit margin. You also have to consider the cost of production and subtract it from your gross revenue.    

     

Calculating ROI With ‘Cost of Goods Sold’

 

For accurate ROI calculations, you have to consider the cost of goods sold. If one $25 product is earning a profit of $10, you need to include this information in your ROI calculation.  

  1. Start with calculating the cost of goods sold. 
  2. Add the cost of goods sold to the ROI equation. When selling a $25 product makes a profit of $15, the cost of goods sold is $10 per unit.
  3. The total cost of goods sold for 10 units is 10*$10=$100. 
  4. Now you have the required numbers to calculate your ROI. Your social media marketing investment for 10 units ($25 each) is $100. The total revenue is $250. The cost of goods sold for 10 units is $100. 
  5. Subtracting the cost of goods sold and marketing investment from total revenue gives $50. So, the ROI is 50%. 

 

How to Calculate social media marketing ROI with Year-Over-Year Growth Rate

 

Year-over-year comparison is the best way to demonstrate your social media marketing performance. This is a common technique that measures growth very accurately. In addition to comparing year-over-year performance, you can also compare the performance of months. For example, you can compare the traffic drop in May month of the last year and the May month of the current year. This technique reveals accurate numbers related to the key performance metrics.

 

Take yearly traffic from social media as an example. Last year 90,000 users visited your website and this year 100,000 users visited your website.

  • Your website traffic in one year has increased by 10,000.
  • Dividing the increased traffic by the current traffic gives .01.
  • Multiplying 0.1 by 100 gives 10.
  • Your growth rate is 10%.

You can use tools like Google Analytics, Hootsuite Analytics, or Tableau to compare different metrics and calculate real over year growth. You can also use Excel for this job.

  1. Create three columns A, B, and C in an Excel sheet.
  2. Enter the number 2018 in cell A1 and 2019 in cell A2.
  3. Put total traffic or sales numbers of the year 2018 in the cell B1. Similarly, put total traffic and sales numbers of the year 2019 in the B2 cell.
  4. Type the formula (B2-B1)/B1A in the C2 cell.
  5. Now you can see the year over year growth rate in Column C.

 

How to Calculate ROI with True Conversion Rate

 

Don’t worry if your conversion rate is low. Probably, you are calculating it wrong. Tools like Google Analytics perform calculations automatically. You get this aggregate number in your reports. 

Here are steps for calculating a basic conversion rate:

  1. Divide leads, e-commerce purchases, email subscribers, downloads, and other goal completions in Google Analytics by the total visits. 
  2. Multiplying by 100 gives your conversion rate. Divide 10 (goal completions) by 1000 website visits. 10/1000=0.01
  3. Multiplying 0.01 by 100 gives you the conversion rate: 1.

However, the problem is that this method uses an aggregate number, such as total website traffic, instead of your target market segment. This is the reason why your conversion rate seems really low. 

When it comes to calculating your conversion rate metric, Google Analytics takes all Google users into account. This aggregate data can be unreliable. For example, you ship products to the United States. You don’t need data from the UK, Canada or any other location you are not targeting. To get relevant data from your target market, you need an advanced segment in your Google Analytics profile. 

 

How to Calculate ROI With Customer Lifetime Value Calculator

 

Customer lifetime value predicts how valuable a customer will be to your business. Accurately calculated customer lifetime value helps in creating an accurate marketing plan. Consider yours is a subscription-based business. A customer pays $9.99 for the standard plan. An average customer stays with you for two years. However, your promotional emails bring the customer back for another 15 months. 

Total months of subscription: 2 years + 15 months = 39 

Money made from an average customer: 39*$9.99 = $389.61 

Now, you have to keep customer lifetime value in mind while running Facebook ad campaigns. 

The complexities in customer lifetime value depend on your business. 

For the simplest method for calculating customer lifetime value, you need a bit of data for the following metrics:

  • Average order value 
  • Purchase frequency
  • Customer value 
  • Customer’s average lifespan 
  • Customer lifetime value 

 

Average Order Value (AOV)

 

How much does an average customer purchase in one visit? For example, how many pizzas does a customer purchase from your pizza shop? It can be your average shopping cart amount if you are selling online. You need to sit with your finance team to get this data. The team will tell you about your taxes and total revenue for the last year. Now get the last year’s total number of orders from your analyst team. Use the formula: 

AOV= Total Revenue/Total number of orders

 

Purchase Frequency (PF) 

 

How often an average customer does business with you? Depending on your business, purchase frequency can be weekly, monthly, annual or a few times during the lifetime. 

PF= Total number of orders/Total number of unique customers 

 

Customer Value (CV)

 

It is the average money you can expect an average customer to spend.

CV = AOV * PF

 

Customer’s Average Lifespan 

 

How long does an average customer stay with you? 

 

Customer Lifetime Value

 

Use the following customer lifetime value formula to calculate customer lifetime value:

Customer Lifetime Value = Customer Value * Customer’s Average Lifespan 

Customer Lifetime Value

Image: https://www.anblicks.com/

 

How SMM ROI Differs From SEO ROI

 

This formula for calculating ROI is important so that you can plan your SEO budget and campaign accordingly. There are two types of ROI: 

  1. Anticipated ROI 
  2. Actual ROI   

 

Anticipated ROI 

 

You need the following data to calculate anticipated SEO ROI:

  1. Average monthly visits 
  2. Conversion rate 
  3. Order value   

Let’s consider the following sample data:

  • Average monthly visits: 50000
  • Conversion rate: 0.68%
  • Average order value: $176

Let’s assume that the SEO budget is $20000. You need to justify this amount. You need to generate a reasonably positive ROI. Determine the additional sales you have to generate to earn at least $20000 during the contract spend. 

Additional sales required = Proposed sale/ Average Order Value 

= 20000/176=114 

So, your SEO efforts should generate at least an additional 114 orders to reach the break-even point. 

Your SEO efforts have to generate additional traffic to generate additional 114 orders. 

Required Additional Traffic=Number of orders required to reach break-even point/conversion rate 

=114/0.68%

=16765          

Let’s double all these pieces of data.     

Estimated traffic = 16765*2= 33530 

Additional sales required = 114*2==228 

Proposed sale = $20000*2=$40000

Anticipated ROI= (Anticipated SEO revenue-Proposed SEO project cost)/Proposed SEO project cost

=($40000-$20000)/$20000 

=100% 

Your ROI is 100%.    

 

Actual ROI 

 

Actual SEO ROI you generate determines how far the client will go with you. Use the given formula to calculate actual ROI. 

Total SEO goal value= Assisting Conversion Value+Last Interaction Conversion Value   

Actual ROI=(Total SEO revenue+Total SEO Goal Value)-Cost of running the SEO campaign

 

Why Social Media ROI Calculation is so Important 

 

Calculating social media ROI is critical to your social media marketing budget. This key performance indicator also tells about the impact of social media marketing on your business by determining profitability. It measures the success over time and supports future decision making. Calculating ROI offers numerous advantages. First of all, this determines whether your investment in social media is fruitful or not. There are different important decisions clients make by calculating ROI, such as purchasing new equipment, hiring new employees, adding a new department, or investing in a particular sales strategy driving better results and profitability. Social media ROI provides you with valuable insight that can help in creating advanced marketing strategies. By calculating ROI, you can learn: 

  • Where to spend your money 
  • How to advance marketing strategy 
  • Which tools to use to increase the success of your social media marketing campaigns

 

Conclusion

 

All sorts of surveys and studies reveal that social media marketing helps in increasing traffic, sales, and reputation. When paired with other digital marketing techniques such as SEO and PPC, social media marketing can increase the ROI of these techniques as well. Allocating social media marketing budget has to be an informed decision that cannot be made without accurate social media ROI. Your return on investment gives an idea of the success of your current campaign and can make your future strategies more productive.

 

5 Reasons To Use Digital Marketing Services To Transform Your Business

5 Reasons To Use Digital Marketing Services To Transform Your Business

Digitalization is touching the lives of every single person even if they are unaware of it completely. One of the biggest advantages of digital connectivity is its potential to simplify communication as never before. This is the main reason why marketing is rapidly shifting from print media to digital media. Go to the flashback of two decades and imagine the world when digital connectivity was at the budding stage. Your business was still running but its marketing strategies were completely based on print media. Electronic media was only approachable to big corporate houses that had the budget to advertise on television. 

This is the era of high-speed internet connectivity where people of every age are optimally utilizing online connectivity for personal as well as commercial purposes. If you are still waiting for the right time or confused about whether to onboard the business on a digital platform or not, please don’t delay more than this. As a business owner, you must be aware of this fact that making the right decision at the right time is your only key to success. Here we elaborating some of the most convincing reasons to make you realize the importance of digital marketing services. 

Understanding digital marketing in a nutshell 

The number of internet users is continuously increasing all over the world because everyone has started depending on online services for various purposes. The word “marketing” comprises unlimited possibilities that evolved a lot from the start of civilization. As digital trends come to existence, marketing strategies reach their advanced level. The main objective of marketing as per current times is reaching every potential customer through various services available on the internet. For instance, most of the internet users access social media services like Facebook & Twitter. Thus; approaching them through these platforms increases the chances of improving your sales. In short, targeting potential customers by advertising your product or service where they mostly visit is called digital marketing. Now the concept of digital marketing is clear. Let’s go further to understand its significance to transform your business. 

Major reasons to adopt digital marketing services for your business promotion 

 

  • Global exposure to your products & services

You may be producing world-class products or services but they are popular in a specific region only because of the lack of marketing. Sometimes, it is seen that the inferior quality products of a renowned company also gain an adequate customer base because of its perfect marketing campaigning. Why your product remains in shadow even it is capable to compete in the global market? Strong networks of global shipping & secure international payment gateway options have made it possible to trade in any corner of the world. However, the first requirement is a user-friendly website or mobile app & its successful marketing. In the digital world, these platforms are responsible to represent your business. If you are doing it yourself, chances are you must be making some common digital marketing mistakes that are holding you back from growth and more sales. The digital marketing services experts are assigned with tasks to promote your business links virtually for targeting potential customers in specific locations.

  • Possibilities to get a longer customers line 

Digital marketing opens a wider door to engage maximum possible customers. You must be aware of this fact that the digital revolution has approaches beyond the boundaries of countries and barriers of oceans. If your business is not doing well in the location where it exists physically, start searching for a new market virtually with the help of digital marketing. Even if it is running fluently at a constant level, digital marketing services can help in improving revenue percentage. 

 

  • Agile & affordable as compared to traditional marketing strategies

 

Imagine the era of print media dominance when even the smallest mistake was also irreversible after advertising until you heavily invest again. Once the defective poster or banner is printed, it will remain constant until replaced with a new one. Also, on every new product launch, you need to invest again in new promotional activities which are very expensive. If you want to increase the criteria for targeting new customers, investment increases much higher.

As compared to print media, digital marketing is very affordable. You just need to hire a digital marketing agency that provides the complete package from the construction of your website to successfully execute marketing campaigning. The marketing strategies of digital platforms are highly customizable. You can make necessary changes in the text content or graphics any time without extra investment. 

 

  • Opportunity to build better communication with customers 

 

Lack of two-way communication is considered as one of the biggest drawbacks for any business. Generally, it is seen that customers cannot approach manufacturers for providing proper feedback because of the lack of a two-way channel. You can build a healthy relationship with existing & potential customers with the help of digital modes of marketing. People can approach through multiple modes of communication whether it is email or direct chat through the official website. Also, the official pages on social media platforms like Twitter & Facebook can help in engaging people in personal messages and comments section. You must have seen the accounts of enterprise-level businesses active on social media engaging people with interesting stuff like new product launch events, quiz contests special interaction hours. Such kinds of communications create long-term relationships with customers. 

 

  • Survival option in cutthroat competition

 

The competition in the market is getting tougher with time. Most of your competitors must be already utilizing the digital services of marketing. If you will not hire a digital marketing services agency, they will surpass you and reach a new level where you cannot even imagine. Even in digital marketing practices, strategies are changing every day. If your marketers are not adopting the marketing strategies according to the current algorithm of a search engine, other competitors will leave you behind. By depending on traditional marketing practices, your business cannot survive for a long time. Even if manage to survive, adequate growth is not possible. 

From the information, we are mentioning above, it has now become crystal clear why your business needs digital marketing strategies. Putting your business online is the need of the hour. Delay or ignoring means letting others dominate the market where you are targeting.

 

A Quick Guide To Digital Marketing

A Quick Guide To Digital Marketing

Digital marketing; the term became a buzzword around a decade ago, and it’s a part of almost all companies’ marketing plans today. Do you know that digital marketing has been existing for more than a century?

In 1895, Guglielmo Marconi invented the radio and sent/received the first radio signal.

Yes! Digital marketing came into existence well before the first computer and the Internet. How is it possible?

It is because digital marketing is an umbrella term, and it involves more things that only smartphones, social media ads, and blogs.

In this guide, we will discuss everything that enlightens you about digital marketing and essential things associated with it. Let’s start from the beginning:

Digital Marketing: Definition

As discussed, digital marketing came into existence right after the birth of radio. But what exactly is it?

The term can be described as a method of advertising something using digital channels, which can be anything from social media to search engines and emails. In other words, it is a way of promoting something through electronic devices.

A significant reason digital marketing is older than the first computer is that it can be done both offline and online.

Need Of Digital Marketing

During a road trip, you must have noticed billboards featuring brands and products.

A few years ago, before the world entered into the era of technology, companies found billboards a reliable way to reach their potential audience and tell them about their new products without talking to them.

However, billboards aren’t as popular as they were a few years ago.

Today, brands have more cost-effective and powerful sources in the form of online platforms to grab the attention of people. These online sources earn by helping companies reach their potential customers. For example, Google and Facebook generate more money than other marketing sources by connecting companies to a broader audience.

With time, the most popular sources of digital marketing change. Online platforms replaced billboards because people prefer operating their phones rather than looking at billboards when they are traveling in a vehicle.

Types Of Digital Marketing

As discussed earlier, digital marketing is an umbrella term. However, it can be divided into two major categories: Offline marketing and online marketing.

Offline Digital Marketing

It is a way of advertising something using electronic devices that do not require a user to make use of the Internet. This type of marketing includes promoting a brand or product on radio, television, and phone.

Apart from that, many restaurants worldwide are using enhanced offline marketing to promote their services. In this, customers use digital devices like iPads to create their orders offline.

Offline marketing can be divided into four major categories: TV marketing, radio marketing, phone marketing, and enhanced offline marketing.

TV Marketing

It is a kind of advertisement technique that has been around us for a long time, and it is not going anywhere soon. Although the popularity of advertising through television has gone down in the last few years, blame the increasing popularity of YouTube-like platforms, many brands across the world still believe in showing their products on TV.

Radio Marketing

Radio marketing is the oldest form of digital marketing, and it is still a popular way of reaching the masses and making them aware of a product.

It is because many people worldwide still listen to the radio, thanks to mobiles with the radio as an app in them.

Phone Marketing

It is the method of contacting people by calling them and telling them about a product. Apart from that, companies offering phone marketing services also send messages to people to make them aware of a product.

Enhanced Offline Marketing

Not many people look at traditional billboards today, but electronic billboards are capable of grabbing the attention of people.

These billboards with LED lights are a part of enhanced offline marketing. Apart from them, brands, usually restaurants, use electronic devices like iPads to book orders or tell people about their services.

Online Digital Marketing

It is the most advanced and cost-effective way of reaching the global audience and making it aware of a brand or product. It is currently on the trend and comes in many forms.

They include search engine optimization (SEO), search engine marketing (SEM), social media marketing (SMM), content marketing, pay-per-click advertising (PPC), email marketing, and affiliate marketing.

Search Engine Optimization (SEO)

It is a part of digital marketing where efforts are made to bring a brand/product high on the search engine.

Here, experienced SEO professionals optimize the online content of a website in a manner that it appears on the search engine when someone types a particular keyword. SEO further breaks into many categories, including on-page and off-page.

Search Engine Marketing (SEM)

Different from SEO, it is a method of getting traffic for a website from search engines with the help of paid and unpaid marketing.

In this type of marketing, keywords are an essential element. It gives an opportunity to market a brand or product through paid advertisements. These ads are visible to the audience on the search engine when they type something related to the product.

Social Media Marketing (SMM)

As the name suggests, the type of digital marketing includes the use of social media channels like Facebook, Instagram, Twitter, and others.

Apart from engaging the audience with posts, companies can run ad campaigns on these online platforms to grab the attention of more people and convince them to get their services/products.

Social Media Marketing is extremely famous these days because there are billions of people accessing different social media sites on their phones.

Content Marketing

When it comes to content marketing, the only things that come into people’s mind are blogs, articles, and social media posts.

A few also consider YouTube as a medium of content marketing. However, content marketing is more than that. It is also about engaging people with useful content in many ways.

They include videos, surveys, slideshares, ebooks, reviews, book summaries, webinar, guides, and press releases.

Pay Per Click (PPC)

This part of online digital marketing includes ads, which bring traffic to a website. In other words, PCC is a way of buying visitors for an online platform.

Search engine advertising is the most obvious example of PPC. These ads appear on the top of search engine results when a user tries to find something related to the product.

Email Marketing

Email marketing has been an effective digital marketing method for the last many years. In this, messages are sent to people via emails. These emails contain engaging and useful content that enlightens users about a product.

Affiliate Marketing

This is a rapidly-growing digital marketing technique, which is proving beneficial for companies worldwide. It is a performance-based marketing that includes four types of people: Retailer, network, publisher, and customer. Here, publishers and networks are paid only when customers are buying through affiliate links, and retailers are earning.

Conclusion

As you can see, advertising a product or brand online isn’t the only type of digital marketing. Although businesses should not miss the opportunity to promote their services online, they also need to make the most out of offline marketing to take their services to new heights.

 

How to Get Instant Leads From Facebook Marketing

How to Get Instant Leads From Facebook Marketing

Have you ever thought about a proven way concerning how to get leads from Facebook ads?   Yes, by virtue of some well-defined marketing strategies some marketers are more successful when it comes to Facebook lead generation campaign. In fact, I have been watching Facebook’s marketing experts closely to discover patterns that lead them to see great results with Facebook marketing.

This article aims to cover some tips you should know and that I have seen implemented by a successful Facebook marketing company to obtain results in their online business. I will start with the most important piece of advice that treats Facebook as a sales funnel. You must understand this concept if you want the other councils to fit and complement each other. Then I will explain how to get “potential customers” through Facebook marketing strategy and how you should promote your Facebook audience to get the best results.

 

Are You Treating Facebook As a Sales Funnel?

 

Therefore, as I mentioned, I will start with this advice because it is the most important to understand.

If you have been doing Facebook marketing for small business long enough, then you will discover that in order to have a long-term business strategy, you will have to create your list and send it through a funnel in which you will establish a relationship with your audience. Warm them according to your offer, which you can re-promote again thanks to your list.

Sales-Funnel-WebSpero

So, it becomes necessary to explain the significance of Facebook in the form of a sales funnel to make the full use of Facebook advertising as your main social media marketing strategy. This strategy is very effective if it is implemented from the beginning and in a consistent manner.

Begin by observing some Facebook marketing for local business; you have to value each person you connect in the niche. Once you are done with it, we must give importance to two things. First, we have to be able to do the same with that person; we do this by talking to them individually from time to time and sharing tips that can help with your business. Prior to sharing tips, make sure that they are willing to receive it from your end, to ensure safety it makes sense to ask for permission. Make it clear that you want to share Facebook ads for small business as a marketing partner on the Internet.

Secondly, we must post Facebook marketing 2019 suggestions that help our audience in business and a lot of content based on the value that touches the fundamental desires in our timeline. In terms of reachability, your timeline on a fan page is much better and, therefore, it will give you a lot of commitment and the needed brand exposure. The reason behind having a content based on Facebook marketing ideas ​​is to portray yourself as a leader and make people see us as the ideal mentor to lead your business.

 

Create Your Friend’s List And Stay In Touch With Your Current Facebook Audience Every Day

 

Connect with new people and with previous connections daily to collect leads for your business Facebook ad so that your audience within your niche becomes familiar with you; People love family members, so be sure to be consistent with this course of action.

Secondly, every time you interact with users, your Facebook threads are more likely to appear in your news feed and to participate in your publications, which will increase your chance to get lead from Facebook.

Finally, since we are considering how to use FB ads effectively in the form of the sales funnel, it is important to add new contacts on a regular basis into your “funnel”. It is recommended that you get at least 50 people inside your niche per day and distribute them during the day. It is one of the effective Facebook lead generation technique.

Also, reconnect with 10 people who are already on your friend’s list so you can increase your participation in your Facebook posts.

Another great way to keep people in your circle and get leads from Facebook is to create a group where you can add them as a connection with your permission and mentioning that it will add many values and share tips in the group that will help you in your business. 99% of people will say that it is okay to add them and every time you post a message to the group, you will be notified through Facebook.