Digital marketing has become part and parcel of every successful business today, and rightly so. There are over five billion internet users, and more than 93% are on social media. This number is expected to increase in the coming years, with the current global internet penetration standing at 62.5%.
Given these statistics, you can understand why every brand invests in its online presence. But with innumerable evolving digital marketing trends, many have failed to match the speed and master best practices.
Figuring out marketing channels that will bring the most return on investment (ROI) can be challenging. Since there is no one-size-fits-all technique, you’ll need to test all the options and find one that works for your business. For instance, integrating cleaning business software into your operations can attract more clients to your business because of enhanced customer experience.
Another difficulty you might face as an online business owner is determining whether your strategies are effective. You need to know the performance of your campaigns early enough so that you can make any changes if necessary.
Unfortunately, many entrepreneurs don’t know when their digital marketing strategies aren’t working. If you’re one of them, here are some of the signs to look for:
1. Low return on investment
Every entrepreneur’s goal is to get tangible results from their marketing efforts. You’ve probably enjoyed some financial returns. However, that might not be the best ROI, considering how much you’ve invested in your marketing department. It might need an overhaul if your digital marketing isn’t yielding the expected revenue.
To solve this problem, you’ll need to determine your cost per acquisition (CPA). How much does it cost you to acquire a new client? Cutting expenses here can increase your profits. Analyze the performance of your marketing campaigns and prioritize those channels that seem more effective than the rest.
Using free resources where possible can also cut the initial costs and increase your ROI. For instance, free estimate templates like those designed by Jobber can be beneficial if you’re running a field service business. You can send accurate estimates to your potential clients and use the same to create professional invoices, which will ensure that you get paid on time.
Of course, your challenges may be unique to your business. Nevertheless, the procedure for solving them is pretty much the same. Find the financial pain points in your digital marketing strategies and work on eliminating any unnecessary expenses.
2. Website traffic is too low
One of the main reasons why you should have an effective internet marketing plan is to build your qualified web traffic. Therefore, your website visitors should be another consideration in your evaluation process. Has your website’s traffic significantly improved since the launch of your current strategies? If the answer is “no,” then your digital marketing isn’t meeting its objectives.
So, how can you fix it? Your main goal should be achieving quality traffic. You want fully engaged web users who spend more minutes browsing your website. Also, make sure they visit as many pages as possible to enhance your search engine optimization (SEO) ranking performance.
You achieve these goals by focusing your marketing efforts on quality content creation. For instance, you can add more visual content to your web pages. If videos are already part of your posts, you can optimize the content by shortening them. According to HubSpot 2021 Blog Research, 46% of marketers consider short-form videos more effective. Therefore, trying this can have a positive impact on your marketing.
3. Minimum conversion rate
While it’s a crucial factor, web traffic generation is only a part of the solution. There are more metrics to measure the success of any digital marketing strategy, one of which is the conversion rate.
You can have thousands of website visitors per day. But how many of them purchase your products after completing the initial marketing steps? If the number is too low, you must optimize the customer journey to meet the expected ROI.
One customer journey optimization technique you might want to try is getting rid of unnecessary steps along the way. Make sure the customers take the shortest route possible from pre-purchase to post-purchase sections.
Once potential clients visit your website, they should be able to browse the products, add them to your cart, and complete the checkout process in one place. This can increase your conversion rate because customers won’t give up on the process. While at it, ensure that the loading speed of your pages is also optimized to enhance the customer’s experience.
Internet marketing is vital to the success of any modern marketing. But to enjoy the benefits that come with it, you’ll need to ensure the strategies meet the needs of your target audience. You need to change your plans if you’re experiencing low web traffic or conversion rate. Low return on investment is another red flag you must consider to succeed in the online market.