Optimizing social media marketing ads is necessary for your online marketing strategy. But one of the most important variables when running social media marketing advertising campaigns is the return on investment (ROI). To use your organization's resources efficiently, you should recoup as much or as little investment as possible.
We know that the budget dedicated to marketing is limited and so you must make the most of it. In fact, according to the 2018 “State of Inbound” report, 40% of marketing experts know the importance of ROI. They want to calculate and test it before they start their digital strategy.
In this article, we will share 5 ways to increase the ROI of your digital marketing campaigns. Also, you can know how you can optimize your social media ads online. In this way, you can optimize your investment of time, money, and effort in marketing strategies.
How important is ROI?
ROI lets you measure your efforts. This is the only way to know if there is really an improvement, or if you are applying the right strategy. This is one of the most important variables in digital marketing. And to avoid publicity it must be a priority that seems successful at first glance and ends without reporting the expected results.
Improve the ROI of your Social Media Strategy
To increase the percentage of return on investment you should consider how and where to invest your resources. The idea is to use the budget to increase the chances of recovering a very well-made investment. You can apply a marketing strategy to your digital marketing plans. Like, you can start the Influencer marketing strategy on your business strategy. But how can you invest in these marketing plans? So pay attention to these strategies:
1. Accurately know your goals before rising your ads campaign
Many organizations do not measure the ROI of their promotions because they do not set clear goals. But for your business, you must set long-term marketing goals. And you should care for that can be met by completing small goals. And we’re not talking about goals like “growing transformation”. The smart goal should be:
- Limited in time
An example of a smart goal to start your social media marketing campaign could be “25% conversion of potential customers within 6 months”. Of course, both the target percentage and the estimated time should be calculated carefully. And according to the main purpose of your digital marketing strategy, it should be measured.
2. Pick KPIs that are related to your goals
You must consider a series of metrics related to each of them to decide if you are reaching your goal. For example, if one of your goals increases your conversions by 25%, the sales level will become one of your most important KPIs, allowing you to measure the conversion rate.
Key performance indicators (KPIs) are what will help you know whether you are getting closer to your goals. Improvements should be applied to your strategy if the measurement report corrects any deviations.
3. Center your efforts on the right audience
When launching advertising campaigns on social media platforms, companies set a decision. They usually want to reach their target audience through the same ads. But you should know that this is not possible all the time. Because a group of people meets the demographic features of your target, you are probably not analyzing them in context.
Your target audience has different preferences, aspirations, and needs. The purchasing process must be at different points. That's why you must increase your ads for each visitor you want to reach.
This may seem complicated but it is becoming easier and simpler to collect and analyze this kind of information about your contacts. Client management tools like Expected CRM allow you to organize relevant data about your client. So that they understand their needs and, better yet, expect them. Basically these are part of a strategy focused on the client, which helps you build relationships, improve customer service, and provide after-sales service.
Using these tools, you can make subcategories within your business target. It allows you to increasingly personalize your campaigns such as:
- Potential prospects
- New clients.
- Regular customers.
- Customers who have not made a purchase in months.
4. Perform tests to know the strategies with the best returns
If you have a defined budget for investing in social media marketing, it's normal to want to put all the numbers first before making any effort. But, no one said that you can’t run small tests that don’t seem like a significant expense to your organization.
The answer to the strategy you are designing can help you test whether you are getting the expected answer or discovering new perspectives that you did not consider to improve it. A great way to give details of what factors can influence or enhance your marketing strategy.
General tests can change the style of your web page font, color, your social network feeds. Also, the location of your contact information, create an article with a different call than what you normally use, etc. Even if these seem like small details, they can give you clues about what may or may not work in your strategy.
We recommend that you change only one item at a time, and then return it to its original version. In this way, you can identify at which stage it generated more conversions and decide to change it or keep it as it was.
5. Prepare an attitude of permanent growth
Even if your ROI met a desired percentage of metrics and you're ready to run your campaign, don't lose interest in implementing changes. If your strategy must be adjusted, don't be afraid to do so. Data and measurement will be your guide to growing your brand.
Paying attention to them allows you to identify new trends and areas that you can further develop. So, the best advice is to perform your best social media marketing strategy. And keep an eye on each movement to adjust to what is needed.
Also, you must check how your campaign evolves on each platform and customize it according to the user. For example, the strategy you use for Influencer marketing should be focused on those who want to use it the most, that is, business people. The same refers to marketing campaigns in person, by phone, email, etc.