ROI

Marketing ROI: Is it Guaranteed?

Screen Shot 2018-02-06 at 12.06.14 PM.pngIf there’s one question I hear most often from business owners, it’s “how can you guarantee a ROI for marketing?” It’s a fair question, indeed, but one where the answer isn’t clear-cut. Undoubtedly, it’s good business sense to expect a return when you invest in something for your business; but when it comes to marketing, there are various factors business owners need to consider before axing a tactic that yields a low ROI.

Consider these factors when deciding if your marketing dollars are being spent wisely:

  1. What strategy or technique did you use?
    Marketing is a practice that incorporates many different tactics and techniques, and some strategies will have a direct ROI while others will not. For example, if you’re launching a lead generation campaign on Google AdWords, you can directly track the leads coming in from this source, while comparing the profit made from these leads against your budget. You’ll be able to clearly determine if the ROI is there or not. A similar approach can be used for trade shows. Did the revenue made from the show at least cover the cost of the booth and any other expenses it took to attend? Lead generation campaigns will be easier to track, but even still, some level of leniency should be applied when determining ROI. As I’ll explain, not all conversions are immediate, and this is something you definitely need to take into consideration.On the other hand, marketing practices such as branding or content marketing won’t necessarily yield a high ROI for your business. Does this mean these practices aren’t worth your time or investment? Absolutely not. These types of marketing tactics are important to keep your brand relevant and relatable for customers. No one likes a stale brand, and you should think of these tactics as a support to your lead generation campaigns.
  1. Is your pipeline robust?
    There’s value in building your pipeline. For every customer that converts into a lead, there are dozens, hundreds, or even thousands of other customers that come into contact with your brand and marketing messages. Some, if not many, of these other customers will result in future sales. That’s why consistent communication with both your current and potential customers is so important. Traditionally, it takes seven touches before someone notices and engages with your marketing message. It’s also why having a strategic marketing mix is vital to your marketing success, so customers are exposed to your brand through various mediums.Even if you have a transactional business, a well-defined brand experience will increase the chances of repeat business. And don’t forget: every customer is an influencer.

So to answer the question of whether marketing ROI is guaranteed: it depends. As business owners, it’s important we see the value in all facets of marketing that may not exactly yield a high ROI; however, I would highly recommend that past marketing initiatives be used for guidance when developing future marketing budgets. If you require assistance with developing a budget or marketing mix, contact CreativeWorks Marketing today!

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Analyze This! Why Your Google Analytics Matter

If there’s one thing I’ve come to learn about my clients, it’s that they expect results. Many of my clients place a lot of value on measurement, and I am often asked, “How were our leads this quarter compared to last? Are we seeing value from the amount we put into new content on our site?” I find it interesting that a lot of business owners and marketers are unclear of the value they can receive from their Google Analytics reports.

At CreativeWorks Marketing, we dedicate the last week of each month to compiling and analyzing Google Analytics data. Google Analytics is a free tool in which you are able to monitor the traffic to your website in terms of audience demographics, behaviour, referrals and more. Like any good tool, you get out of it what you put into it. A simple Google Analytics report is only valuable when analyzed to help you understand what it means to your business.

The analyzed data is central to your business as it allows you to understand what is and isn’t working on your site so you can implement strategic, not just tactical, initiatives. While many web companies offer Google Analytics reports as part of their services, few of them supply much other than the raw data itself. Being able to read and fully understand what is being told through the data is imperative to your marketing success.

I have worked with multiple clients over the years that receive monthly analytics reports from their “web person” and disregard the information due to a lack of understanding. By ignoring the information provided in each analytics report, you might be missing key information about your business. Variances in online behaviour are important to determine problems and identify trends.

Google Analytics go above and beyond recording how many people have visited your site, it can also help to identify “unusual” behaviour. For example, when one of our clients was the victim of a website scam, we were able to identify new visitors to the site that came from suspicious sources. Finding out this information and alerting our client was imperative to the security of our client’s site, and without Google Analytics we wouldn’t have been able to act as fast as we did.

Analytics are a key part of the marketing process, and website analytics are only one form of such data. If your business is on digital platforms, you need to make sure you have clear analytics reports that also include relevant data on your social media efforts, and ideally include summaries and recommendations for adjustments and changes for improvements.

If you are investing your time and money into a robust website, it’s important that you have an understanding of how your audience is using it. Ask your marketing agency to provide a detailed analysis of your digital assets and explain what changes, if any need to be made. The goal of truly understanding website behaviour is using analytics to its fullest potential.

Social Media is Not a Do-It-Yourself Project

Social media isn’t just about tweeting where you ate last night, posting vacation photos on Facebook  or finding a date on Tinder. It’s serious business for companies that are serious about attracting and  driving targeted customers to their website and converting leads into customers. In response to the  importance of social media in business, colleges and  universities now offer degree programs in social media – Seneca College (Certificate in Social Media), University of Florida (Masters Degree in Social Media) and Georgetown University (Certificate in Social Media Management) are just a few offering social media degrees. And there’s a rise in social media-oriented M.B.A. programs.

What can social media do for your company?

Every company can benefit from social media. Here are 10 great benefits that your company can derive from a well planned and well executed social media campaign.

  1. Generates leads in a very cost effective manner
  2. Helps establish your brand & increases brand awareness
  3. Builds brand loyalty
  4. Increases website traffic
  5. An excellent platform for engaging with your customers
  6. Helps you reach a targeted audience
  7. Expands your reach
  8. Helps build relationships
  9. Delivers higher conversion rates
  10. Decreases marketing costs

 

Who is using social media for business?

According to the Social Media Examiner, 96% of marketers are using social media.

Why isn’t social media working for my company?

Unfortunately, social media is not a do-it-yourself project. It’s a specialty that requires a particular expertise and skill set. Just as you’re the expert in running your business there are professionals whose expertise is social media.

They understand the science and art behind it and the subtle nuances that can make a big difference in results. Social media requires a strategy, the content that will deliver results, and the analytics to measure those results.

It’s not as simple as just writing a tweet, hoping for the best and expecting results. If you haven’t been seeing results from your social media efforts, I strongly urge you to contact a marketing agency or a consultant to manage social media for your company. With proper expertise in place your social media campaigns will deliver results.

 

Does My Business Really Need A Blog?

Blogging-for-Business-The-Ultimate-Guide The marketing industry kicked off 2016 by announcing it is the year of content marketing. One of the most valuable content marketing tools that businesses have to engage and connect with customers and share relevant information is a blog.

A blog is a key aspect of your content marketing efforts, offering fodder for your business’ social media and online content in the form of Facebook and LinkedIn posts, tweets and email newsletters. Not only do blogs fuel SEO, as search engines love valuable content and will reward you for it. According to a HubSpot survey, 82% of marketers who blog daily acquired a customer using their blog, as opposed to 57% of marketers who blog monthly.

In addition to marketing reasons, there are compelling ROI reasons for having a business blog, yet so many business owners are still reluctant to start a blog because the time commitment and level of writing expertise required. There is no doubt that blogs require an investment of time for planning and of course writing, but the benefits of blogging (creating content and sharing it online) far outweigh these downsides which is why you need a blog.

Here are the top 5 reasons why every business needs a blog:

  1. A blog creates a two-way conversation with customers, prospects and industry peers, positioning yourself as a subject area expert and thought leader, and encourages interaction, comments and feedback
  2. A blog builds confidence, relationships and sales. Customers will look to you as a reliable resource for information on your industry, then come to you to buy.
  3. Helps you stay ahead of the curve. You have to stay on top of news, trends and competitors to be a successful blogger. It helps you be a leader, not a follower.
  4. You can tell your brand’s story. It gives your company a voice. A blog is a great place to offer more insight into your company, philosophy, employees, and ideas. Tell your customers why you’re in business and how you can help them.
  1. Blog analytics allow you to track readers, click-throughs, popular topics, shares and comments. You can even tell what day of the week your visitors prefer to stop by.

If your business doesn’t have a blog, and as the CMO or CEO you don’t feel you have the time or skill-set to write one, consider hiring a marketing agency with a solid content development team. In addition to helping you create a content strategy, they can create a blogging schedule for you, write the blogs, categorize them for you, and also post them with appropriate visuals that are all in line with your brand and business direction.

Have you made blogging part of your content strategy? What are you looking to get out of your blog?

Automated Marketing: It’s All About Targeting Your Customers

blogNot a day goes by that I don’t read an article about automated marketing,       re-targeting, or how large multinationals are re-tooling their marketing departments to make way for this new era in marketing. It appears that a new marketing game is afoot and we in the marketing field are all facing a shift in what will surely be the new norm.

At its core, automated marketing uses software to more effectively market your brand on multiple online channels like social media and websites and automate repetitive tasks. Whether through the use of cookies, profiling tools, database or sales platform integration, these automated systems provide the holy grail for marketers: specific details on your customers needs and wants, so you can specifically target them with advertising that addresses these needs. This type of marketing provides the customer with something you know they want.

Sounds amazing and it is, but it will require businesses to work more collaboratively with their sales and marketing teams, which is no easy feat! The more these two teams can be seamlessly integrated, the better able you are to develop strategies that receive increased ROI.

I know I consistently speak about the importance of strategy, but in automated marketing it becomes even more important because you are researching and mapping out your customers’ behaviours so you can target them with the appropriate type of advertising. Without a strategy of this type, your automated marketing will fail.

This is one of the greatest changes our field has seen in years, a chance for sales and marketing to really work together and focus our attention on what really matters—our customer.

Stay tuned for my next blog where I’ll share a few insights on getting started in automated marketing.

Has your company created an automated marketing strategy? What are some of your challenges?   I look forward to an active discussion!

What Should I Be Getting From My Marketing Expert?

 No matter what realm – fie-marketingnancial, legal, health or business – we rely on experts to provide us with answers that we otherwise couldn’t come up with on our own.

Marketing is the one thing all business owners know they must invest in to be more successful. In fact, this is why most CEOs hire internal expertise through their marketing staff, externally via a marketing agency, or do a combination of both to ensure they are getting the knowledge, insights, guidance and solutions to help them achieve their marketing and sales goals.

Whether your expert is internal or external or a hybrid, you’ll want to make sure your “experts” are taking care of your marketing to ensure you meet your objectives and goals. I have outlined below a few tasks you’ll want to make sure your experts provide you with:

  • They have created a strategic marketing plan based on your business goals and reaching specific objectives you have outlined for your business (this may include increasing revenues from a target audience, introducing a new service or product, increasing sales by a certain percentage, etc.)
  • The strategy clearly identifies your audience, your brand, messaging, your revenue streams, approaches for implementation, and measurement approaches
  • They have created a detailed marketing plan, with determined messaging, what area your marketing team is going to focus on, what objectives they are hoping to achieve, what marketing mix they are going to use, the number of campaigns, and what the projected ROI will be for each
  • They have created a detailed tactical plan to execute and implement the marketing strategy including clearly identifying individuals, roles, timelines, outcomes, ROI
  • They have outlined documents for each campaign to identify who will monitor results, tweak as necessary, and ensure that your company gets the best results from their marketing efforts
  • They have included you as part of the process (if appropriate) prior to, during and upon completion of every campaign. This could be a quick meeting with your team, a call, or an email.

As a CEO or CMO, your team needs to be able to not only think creatively but analytically. They must be able to not only be creative, but to be able to gain results from that creativity.

This is your business, so make sure you really have the right team at the table to help you achieve your business results and growth. Your relationship with your marketing advisor(s) should leave you always feeling secure in their expertise so that you can focus on running your business. Trust that they only have your best interest in mind and that your success is their success.

The Rise of Digital Marketing

Screen Shot 2015-02-09 at 1.26.20 PMThe digital world is tied directly to data, and data is everywhere. When it comes to marketing, data informs marketers about audiences, their interests, intentions, and where they choose to interact. I believe that being able to analyze big data, create original content and having a sound digital strategy are three key factors a company should consider while aiming for success in the current digital climate.

Big Data

Because of the rise in available data, digital media has become an incredibly integrated part of consumers’ daily lives, and digital platforms are constantly updating themselves in order to provide the best user experience.

Being able to analyze and report data is a key component to any marketing strategy (at least it should be). Everything will be enhanced by the growth of big data – get ready!

Content

I’m sure you’ve heard the phrase, “content is King”. When content is relevant and interesting, consumers cannot wait to read and share your brand’s content. This includes video content too (Instagram recently introduced a looping feature on their videos!).

Also, blogs are making a comeback because SEO matters now more than ever, and you need content to post on your social media sites – what better content than your own, right?

Digital Strategy

The changing digital landscape means digital marketing is constantly evolving, and marketers, like myself, are forced to learn how to use new software, how to use different platforms (including mobile), how to apply new techniques, and how to manage and optimize marketing efforts.

Location matters more now too. As the Internet grows at an incomprehensible rate, users are looking for more local experiences. We’ve seen the emergence of companies, like Uber and UberX, providing local goods and services at the push of a button. Being able to offer customers a local experience (that’s easily accessible via their smartphone – think convenience) keeps you relevant. This means we should see a rise in the amount of geo-targeted advertising, and social content created.

Content creation, SEO, and social media, shouldn’t be treated as specific departments, but rather as skills that exist inherently within your marketing agency (or internal marketing team).

What does this mean for businesses today?

Before you, or your company, settle on a marketing budget, I recommend you look at the latest trends and technology, and understand which of these your customers use so you can create a plan that leverages all available data. The success of today’s marketing campaigns largely relies on sound marketing strategies that have adopted new digital technologies.

If you’re unsure of where to start or if your marketing strategy is outdated, please contact me at info@creativeworksmarketing.ca to see how I can help your business.

Does your company have a digital strategy in place? What are your biggest challenges with digital marketing? Comment and share your thoughts with me!