Businesses need to understand that there’s a world of difference between just doing online marketing, and doing it profitably. Many small businesses think that if they dump enough money into Adwords they’ll see a return on their investment, but this is rarely the case. Instead, they end up wasting their marketing dollars and don’t get a good return.
So what strategies will help businesses turn a profit from their marketing in 2017? Let’s find out.
Utilize Big Data Analytics for Customer Intelligence
The IDC reports that the size of the digital universe is doubling every 24 months. That means that by 2020, the internet will be 40 trillion gigabytes: that’s a lot of data.
What’s more, those data contain valuable nuggets of information that small businesses can use to their advantage. With the right analytics platform, it’s possible for companies to find out more about their customers and better target their ads. By tracking behavior, businesses can deliver to customers the ads that they will find most useful, thereby avoiding having to pay for clicks which aren’t likely to result in a sale.
Businesses that run ecommerce stores can also use customer data to push personalized offers to customers, enticing them to buy the things that they most want. It also means that companies will be able to better price discriminate based on who comes to their website: businesses can offer discounted prices to savvy customers while bumping them up for customers who are willing to pay a bit more.
Online marketing services often say that “content is king,” but how can it be used to make bigger profits and get more leads?
Since 2015, we’ve seen an explosion in content marketing. Businesses that have adopted it early have seen big growth in their online sales traffic and volume, but only those that do it really well have seen their content marketing efforts generate significant profits. Thanks to changes in Google’s search algorithms earlier this year, traditional SEO is becoming more and more difficult. People are now relying on the quality and format of their content to drive traffic and generate results. Those companies whose content delivers the most value to customers are the ones who rise to the top. Create e-books, explainer videos, blogs, and infographics to entice your customers and get them interested in your product.
Use Twitter’s New “Buy Now” Functionality
Social media giants like Facebook and Twitter are finally getting savvy to the fact that they are online business portals. But what’s been strange about them so far is that they haven’t allowed their users the opportunity to buy on their platform. Why?
Now, though, that’s all changed with Twitter’s new “buy now” function. This is a great boon for businesses who want not only to market through these platforms but also to make it easier for customers to buy, there and then.
These new features mean that buying can be embedded in the content. Pinterest is doing a similar thing, allowing people to buy products they seen in photos on the site.
Use these strategies to improve your marketing return on investment.
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