Aside from effectively increasing revenue, marketing has become all about efficiency. At the end of the day, you want to spend as little as possible while still generating plenty of relevant leads. Below, we'll take a look at a few decisions and see the best way you can organize your marketing budget and increase ROMI.
Billboard vs PPC ad
Billboard ads are huge, visual, and put your brand in the spotlight. They're also pretty expensive, especially if you choose one in a prime location. These ads will reach a lot of people, but there is no way of knowing whether those people are actually interested in your offer or not.
A more effecient alternative to billboard advertising is Pay Per Click (PPC) ads. These include Google Ad Words and any other service in which you pay for the number of clicks or impressions you receive. PPC ads require a decent size budget to see a good return, but you are guarenteeing that your ad is being shown to people that are actually searching for your offer - exponentially increasing your chances for a conversion.
Newspaper Article vs Blog Post
Newspaper articles speak to your brand's authority and expose your business to a decently large audience. Chances are, your article will be consistently put into the hands of a number of readers - but there is no way to track how many, or tell if they are actually reading your article or just skimming past the headline.
Blog posts are the opposite in that respect. Although one might go by unnoticed, the next might go viral on social media. The difference here is the potential of social sharing and the ability to track performance of each individual article. (Which means the ability to use data to improve every single post.)
Meanwhile, blogs are cheap, effective for SEO, and can do just as much for your brand's authority as a newspaper article - provided that the content is good.
TV Ads vs Social Campaign
TV ads have been the bread and butter of many marketing campaigns over the past 30 years. As long as you can swallow the cost, you can place your brand in the homes of thousands of viewers.
While not exactly a replacement for TV ads, social campaigns have even more potential in terms of exposure. You can build your follower list over time and share content with thousands of leads.
Moreover, the costs of social media marketing are comparatively much lower. You'll need money for content and ads, but it will never compare to the cost of a TV advertisement.
Read this article for more tips on social media marketing for businesses.
There's nothing wrong with billboards, newspaper articles, or TV ads. But in 2017, there are much cheaper and more efficient ways to get your brand's message out and increase conversions.
For more tips on how you can effectively increase revenue, contact us today.