How Digital Marketing is Cost Effective for your Business

Running a business is a very expensive proposition. From everyday operations and resourcing to the development and distribution of products to digital marketing services, there is so much to budget for!
  • Mel Gibbons

    20 August, 2020

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Add to that advertising and marketing in order to take your products or services to a market and your expenses can crawl through the ceiling. For many businesses, advertising and marketing activities are the most significant expense in their budget. However, with contemporary digital marketing strategies—and some help from a knowledgeable digital marketing agency—your business can reign in these costs and keep your marketing budget firmly under control.

Cost-effective ways to harness the power of digital marketing

We can confidently say that digital marketing campaigns are the most cost-effective way to promote your business—and the list of reasons why only continues to get longer. Here’s our top nine.

1: Use social selling to connect and convert

digital marketing strategy that doesn’t capitalise on the massive impact of social media in today’s marketing landscape is one with unforgivable faults. Experts agree that social media marketing in Adelaide is one of the best investments you can make.

Social media is all about enabling connections. This is great for person to person interaction as well as for a modern business. Making a genuine connection with your consumers is made easier by utilising social media platforms to reach out and interact directly.

Putting this network of consumers to work for your business means partnering with a savvy digital marketing team with extensive experience in the realm of social selling. This type of marketing uses the organic connections people naturally form on social media to foster interest, trust and brand loyalty—and create conversions!

2: Netting a high return on investment

When it comes to weighing up the effectiveness of digital marketing campaigns, your return on investment (ROI) is one of the best ways to do so. After all, you want to know you’re getting the best value for your marketing dollar.

How does effective digital marketing maintain consistently high returns? By balancing the cost of your advertising with the return you are getting, you can ensure every dollar you invest in your marketing strategy goes further and enables you to scale up in the future.

3: Engaging content that costs little

One of the biggest mistakes that modern businesses make is choosing to publish content that does not sufficiently engage audiences. Too many businesses choose to rely on cookie-cutter content created by impersonal templates—all of which can be a waste of precious time and money.

Content creation should be the primary focus when it comes to digital marketing. Video is one of the most powerful forms of digital marketing for modern day consumers— an engaging video has the potential to go ‘viral’. To make that happen though, you’ll need content that really catches the eye and strikes a chord.

Partner with a professional content creator for effective video marketing in Adelaide. You’ll get the kind of content your customers actually want to engage with and which really yields you a great ROI!

4: Budget-friendly brand awareness

Brand awareness and loyalty are two of the most important and valuable results of a marketing campaign – and a solid digital marketing strategy can land them for you.

To breed trust and loyalty from your consumers, you need to first become a “household” name. While this doesn’t actually mean infiltrating the consciousness of every home in the world, it does mean staying in front of the eyes and in the minds of your potential consumers at a high frequency.

One great way to do this is through email campaigns. We all receive those promotional emails from our favourite brands offering coupons, promoting new products and letting us know about upcoming sales. Sometimes we ignore them, sometimes we take advantage—but we are reminded almost daily about these businesses and brands, and that familiarity evokes more trust.

Most importantly though, these email campaigns cost little to nothing to run. Once the email is generated, it is fast and possibly free to send them out en masse. This means a low-cost option for marketing with a high rate of success—a boon for your business!

5: Creating targeted traffic

Creating traffic is a very broad goal for your website. A more important goal is to create targeted traffic—people who are browsing your website with a specific intention.

Why is targeted traffic so important and so valuable to your business? Because these are the people who are likely to make a purchase. They have come to your website looking for products like yours or in search of more information. Providing engaging content and easy-to-use interfaces that help them make purchasing decisions will turn these browsers into buyers—but first you’ve got to get them in the virtual door!

Targeted traffic will drive the best possible return on your investment. A smart advertising strategy will prioritise directing this meaningful traffic to your website, rather than simply redirecting a bunch of people who are likely to browse your site aimlessly without making a purchase. The more purposeful browsing your consumers do, the better the return on your advertisement dollar will be!

Also Read: 7 Tips for Choosing The Right Digital Marketing Agency

6: Pay-per-click marketing grows your audience faster

When you run a small business, growing your audience and expanding your reach is imperative to your continuing success. Few approaches to marketing in the digital age are better suited to this than pay-per-click. It’s a vital component of any digital marketing strategy for businesses with limited budgets.

Pay-per-click maximises your advertising budget. Why? Because while traditional search engine optimisation (SEO) and other strategies may take months or even longer to effectively see results, you stand to find success almost immediately with PPC marketing. They’re an excellent and low-cost start for businesses with limited budget.

7: Harnessing the power of social media

Few things speak to the modern sensibility of connecting with consumers like influencers and social media marketing. Today, celebrities are born of social media posts, content creators who share their lives and the products they enjoy with their followers and create brand equity for the businesses they partner with.

A prime example of this type of marketing is the Kardashian-Jenner family. These women have created a business empire of personality, sharing content with their viewers and followers based entirely on a curated lifestyle—and when they share a promotional post, it can take a brand from zero visibility to a high level of equity in a matter of minutes.

While not everyone has the means or the need to partner with a so-called “macro influencer” or celebrity promotional partner, working with smaller-scale influencers can be a great and low-cost component of your modern social media marketing strategy.

8: Keeping customer acquisition costs low

Customer acquisition cost (CAC) is a vital metric for businesses to track as it measures how much it costs to acquire each new customer.

The metric is tracked by comparing the cost of advertising overall with the number of new customers. As an example, if you spend one hundred dollars on marketing and receive one hundred new customers, your customer acquisition cost would be one dollar. The breakdown isn’t usually that straightforward, but the equation is that simple.

When you’re paying less for marketing—as you are when you invest in today’s low-cost digital marketing strategies such as Google Ads—you keep this cost as low as possible. That’s good news for your budget and even better news for the investors you might be considering partnering with. Investors see a low CAC as a sign of marketing and business savvy, making them much more likely to invest. It’s the metric that helps you keep winning!

9: Easily track progress and success and adjust your approach

One of the biggest benefits of digital marketing is that it can be tracked for progress toward goals and adjusted as needed. This is invaluable since many marketing strategies require an investment in almost blind faith. Either your expense yields a return or it doesn’t, but you may not know until much later.

With digital marketing strategies such as SEO services in Adelaide, you can adjust your approach as you go. Since these strategies are long-term in nature, you can evaluate how you’re doing toward meeting conversion goals as you go and adjust accordingly.

Invest in what works

A digital marketing service is one of the best investments you can make for your business. The right digital marketing agency will help you with everything from tailoring advertisements to your consumer’s typical online behaviour to creating content they’ll love to engage with – you can have it all when you put your marketing dollar towards a carefully planned and well-executed digital marketing strategy.

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