Posted on: 23 January 2020
When you are working on your marketing strategy, one of the factors you need to consider is the potential return on investment (ROI). Although many ways of marketing can generate sales and boost your recognition, there are three that are the best value.
Direct mail continues to be a good strategy for marketing, and in the age of digital marketing, it may be more powerful than it used to be. Since many companies opt to advertise exclusively online, the average person receives less marketing mail, which allows your mail pieces to stand out. Part of your ROI will be dependent on the type of mail pieces you send. You want to invest in high-quality mailings, such as those that take a creative approach and that are printed on thicker cardstock. Other features that can help is printing in color, a glossy finish, and enticing the recipient with a promotion. Personalized mailings also tend to perform well.
The main reason email marketing has a good ROI is because it is an inexpensive method and it is easy to reach target demographics. To make email marketing easier, it is advisable to invest in a software program to help stratify your audience. Stratification allows you to divide your email list into smaller subgroups and send email marketing that is more meaningful to each one. For example, when people go to your website and sign up for your newsletter, they might check boxes based on their interests. Since recipients only receive marketing emails that are relevant to their interests, they are less likely to unsubscribe and may be more likely to follow through and make a purchase.
Search Engine Optimization
Search engine optimization (SEO) has a high ROI because businesses that can be found through search engines increase their brand recognition and sales. SEO can be complex, especially since it can be difficult to start and refine your strategy. To increase your potential ROI, it is best to hire a professional. Not only can they determine the best keywords that are applicable to your business, but they can make suggestions regarding content and marketing via social media. The inclusion of photo or video content on your website and how you integrate your website with social media can also affect your SEO.
Being selective about your marketing strategy will minimize wasted dollars on marketing that is ineffective. At minimum, start with the three strategies that have the highest ROI before branching out. Talk to an ROI advisor for more information.Share