How to Maximize Online Profit like a BossWritten by hadar,
If you ever created a single media campaign you know how important they are for your bottom line. But you also know how challenging it is to get them spot on – and how much room there always is for improvement. In this article, we’ll discuss media campaigns and how to maximize profit from them.
Keep in mind that ‘maxing’ is not something you achieve once, after which it stays ‘maxed’. It’s a continuing process of awareness, testing and optimization. If you’re looking at how to calculate acquisition costs for the sake of scaling, we would recommend using the tips below, and to keep using them, to make sure you’re not leaving money on the table.
Try AdWords Alternatives to Scale Up
Image source: badgermapping
AdWords might be the go-to tool for most media buying pros, but sooner or later it will run out of steam. Either increasing budgets no longer fuels scaling, or finding new and relevant audiences becomes increasingly difficult. When it happens, it is time to consider alternatives. There are plenty to choose from. Facebook might seem like the obvious first choice, thanks to a myriad of targeting options, but we’re more inclined towards other solutions. There should always be room for a solid ad network in your campaign. In that case, feel free to check out SelfAdvertiser, a flexible network with a strong reach and thoughtful pricing options. Don’t forget LinkedIn with its highly segmented audiences, or Bing, which seems to be working wonders for targeting US-based groups.
Shake Up them Marketing Campaign Tools
Your audience is everywhere. They are engaging with people on social media. They are searching for things online. They are reading reviews on the stuff they are interested in getting for themselves. They are reading blogs and sending out emails. Being present on all these fronts means keeping track and managing everything is quite the challenge. The tools that help us do that evolve every day, and refreshing your toolbox every once in a while can do wonders. For email marketing, MailChimp is still considered king, although GetResponse, Emma, CleverReach, and SendInBlue have recently become strong contesters to the throne. For social media, consider Mention. It allows you to track mentions across many networks and has a well-built notifications system. Yotpo will help you manage user-generated content, mostly reviews, so keep that one in mind as third-party validation is extremely important for any campaign. Last, but not least, when it comes to managing multichannel campaigns, we can strongly suggest WorkZone.
Lower Your Customer Acquisition Costs
Obviously, but how? Well, build more landing pages. Seriously. It might sound trivial, but given the fact that two-thirds of all companies have six or less of them, it’s important to stress it once again. And let’s pair that depressing statistic with the fact that companies with 40 landing pages and more get 12 times more leads, compared to those with five or less. Then, make sure those landing pages have video content on them. Seriously, it’s 2017 – everyone wants video content. Adding a video to your landing page can increase your conversions by up to 86 percent. At least, that’s what happened to TutorVista after they added a video clip to their landing page. Without a high-converting landing page, your customer acquisition costs will go through the roof, and that definitely doesn’t help to max out your online profits.
Prioritize User Experience
User experience has become key [Image Credit: Flickr]
In the past few years (and probably many more to come), media campaigns have been shifting focus on two things: one is personalization, and the other is engagement. Both of them can be brought under the user experience umbrella, a term that’s (unfortunately) slowly turning into a buzzword.
You will want to link all of your campaigns to actual people and make sure to tie any purchase history to their purchase intent. Start by making all of your ad copy more relevant – offer personalized recommendations or consumer insight.
Make sure your campaigns offer everyone (not just ‘influencers’ or ‘celebrities’) a chance to engage with the brand – promptly. By focusing on engagement and interaction, you’re allowing yourself a more viral reach, and that works wonders for your online profits.
You Might Want to Rethink Your Retargeting Strategies
Yes, retargeting is important and you should definitely employ it. But let’s make sure you’re not making one of the more common mistakes – not segmenting your audience. Before opting to retarget, there are a couple of ways you can segment your audience. Either by intent (not interested, interested, bought) or by the time of arrival to the site.
Intent can be uncovered if a user visited a particular site, or did a particular action. For example, that can be watching a pricing video, or going all the way to the checkout page before calling it quits.
By the time of arrival, we mean that you should be prioritizing retargeting to those groups that were on site today – rather than yesterday.
At the same time, that should also mean that you will block the traffic you don’t want – including those that have shown no intent to purchase, or those that came a long, long time ago (relatively speaking).
This is how You Optimize a Campaign
Fake and unprofitable traffic needs to go away. Low-performing offers, non-converting landing pages need to go as well. Yes, we did say you need more landing pages – but having numbers is not a means to an end. And finally, keep an eye out on bad placements. Eliminate those as the final step of your campaign optimization efforts.
Making sure your media campaigns aren’t “leaking funds” everywhere is a challenge, but it’s also very rewarding. If calculating acquisition costs is a constant exercise, you will be doing it gladly if you continue evolving your approach and tools when it comes to online digital advertising. The need for constant evolution is evident since we’re operating in an ever-changing environment which is challenging and full of competition. Make sure you stay ahead of the pack.