Here Are 7 Tips To Increase Your Marketing ROI.

7 Tips To Increase Your Return On Investment In Marketing.

Marketing is one of the most important operations of business. Big brands spend in billions on marketing. They know that to exist in this cut throat competitive market, it is important to constantly keep your target audience engrossed and addicted with your brand.

To make a captivating brand presence in the market, marketing strategies need to be compelling and precise.

Marketing is a patient and persistent process towards building and keeping your brand as a dominant player in the market.

Businesses focus on ROI when it comes to choosing the best marketing strategy for their brand or product. Marketing is completely about trial and error. Some strategies may work and get the desired ROI and some may not. Below are 7 tried and tested tips to increase your ROI in marketing.

1. Do not market in a small market:

A small market has a limited customer base. The buying capacity of such a market is often small. The limited customer base does not change overnight. Even if it may feel tempting to enter a small market because the competition could be less or non-existent, it would be a loss of marketing budgets and time. This does not mean that you should not market in the small market at all. It only implies that keep your marketing spend and efforts to the minimal in a small market.

A big market has a huge target audience, along with that the buying power of the patrons of this market is much higher. Though, there could be tough competition, but it would also be reasonably profitable to concentrate on a big market.

2. Be omnipresent:
social media marketing

Marketing is a changed game in the digital era. The attention span of your target audience is less and the patience to stick to one channel is less too. You will have to be present on all channels where your target audience could be in order to create a lasting impact on their minds. In the digital world if you are out of sight, you are out of mind. Utilise all marketing channels where there is a high level of traffic. For example, using Facebook, TikTok, Twitter would be wise as a lot of people use these platforms and interact here.

Imagine there are two cold drink bottles in front of you. One is Coca Cola and the other has not sticker of a brand on it. 99 out of 100 people will pick up the Coca Cola bottle. Why? Simple, people trust brands. They do not trust something that does not have a brand presence in the market. The brand goodwill in the market gives the product or service all the leverage it needs to be sold in the market. However, brands will never be built overnight. Coca Cola did not reach to the level it is today in just a matter of days, it has taken Coca Cola decades to be where it is today. So, did Coca Cola give up? No. Instead they persistently and patiently took efforts in building their brand and today are a market dominator.

4. Website traffic is not coversions:

It is a huge misconception that huge traffic on your website means your brand is doing good. Wrong! The traffic could be huge but it could be of no use at all. What if the same traffic is bringing in more bounce ratio? What if they do not like your product or service once they visited your website? You need to take into consideration to know what is the actual traffic to your website. Also, what is the of huge numbers in traffic if none converts or buys even a single product or service from you. Instead of traffic focus more on conversions. Think what you can do get better conversions. Ultimately a business needs money and profits not website visitors.

5. Adopt to new marketing channels:
tiktok marketing

TikTok became a people’s favourite in no time and today it has become one of the most promising and competitive marketing channels in the digital world. People or brands who signed up for TikTok in its initial days have become celebrities and top-notch influencers today. TikTok actually wrote the rags to riches story of their lives. This example shows that adopting to new channels of marketing eventually makes you a brand. It may not happen overnight but as the channel grows so will your brand. Analyse which channels are promising, study those channels and adopt to them early on. Also, not all channels are as promising. Take Orkut for example, a huge giant by Google did not do well and was ultimately shut down.

6. Product Marketing:

A service or product can be marketed more easily than just a brand. The more the people like the product or service the more they will appreciate and love the brand. Let us again take an example of Coca Cola. Coca Cola would not have existed today if the drink was not liked by people. Similarly, people have forgotten a company and brand like Gold Spot. A cold drink company that existed in the 90s. People did not like the product and also the new market players had better taste and options. Gold Spot stuck with just one flavour. This went against it. Soon it was shut down and the market giant like Coca Cola took over the markets. People must like your product and service. Keep working on developing those. Also do not stop with just one product or service, keep building more. Remember people love to buy something new every now and then.

Product marketing
7. Be Patient & Persistent:

I have repeatedly said marketing is a patience and persistence game. It is important to be patient and persistent when it comes to your marketing efforts and spends. Marketing is all about taking baby steps. Brands cannot be built overnight. Spending a huge amount on ads may bring you more leads but it is not building your brand. To become an established and dominant brand you need to be present in the market for a long time and keep doing marketing activities persistently. You need to be patient for the results to show up. Do not give up on marketing if you are not seeing the desired results today. Tomorrow the efforts you have taken will make your brand the dominant entity of the market.

If you want us to get you the best ROI for your marketing. You can contact our agency The Brandwaala Digital Marketing Agency and let us help you grow your business and get you the best ROI on your marketing. You can also click here to get in touch with us. 

 

Kunal Patrawala

Kunal Patrawala

Hi. I am Kunal, a certified digital marketer. I have an experience of 13 years in the fields of sales and marketing. I have worked for brands like 3G MUMBAI and LG. I have worked in the real estate, IT, Consumer Electronics, Plastics, etc in my 13 year journey of my work experience. I am passionate about marketing and business development and thus decided to start The Brandwaala along with my team.

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