How To Know When Your Digital Marketing Strategy Needs To Change?
Ideating, cultivating, and establishing a business’s online presence through a robust digital marketing strategy is a dynamic task. Hence it is an activity that requires exquisite attention to detail and constant innovation to remain competitive.
Are your marketing campaigns not yielding the desired results anymore? If yes, then it is a tell-tale sign that things need to be changed. Here is how you know that your digital marketing strategy needs to go!
6 Warning Signs That Your Digital Marketing Strategy Needs To Be Updated!
Lack of desired results is a strong enough reason to want to update your digital marketing strategy. But it’s not an accurate barometer for measuring the magnitude of change required. Hence here are the top six warning signs that your digital strategy is begging to be updated.
#1 You Aren’t Meeting Your ROI Targets For Your Marketing Strategy
A successful marketing effort always ends in generating results, along with a decent ROI for your business. The first sign of a failing marketing strategy is the declining ROI from your campaigns. But how can you assess whether your decline in ROI is permanent or not?
All that comes down to understanding your CPA or Cost Per Acquisition, that essentially means how much money you are spending to acquire a single new customer. Generally speaking, a higher CPA will result in a lower ROI and vice-versa.
To mitigate this issue, you need to diversify your marketing efforts into multiple channels. Run and track campaigns across multiple channels to see which one gives you the best ROI and double down on that. Early identification of failing ROI will allow you to course-correct in time and save your business’s online presence.
#2 Your Social Media Marketing Campaigns Aren’t Generating Traction
One of the greatest, errors you can make while creating your marketing strategy is employing a “fire and forget” mindset. For example, on social media, businesses will post content and wish that the content gains traction and generates brand-user engagement.
Businesses must understand that the content that they post on social media must be well-designed & curated to engage their audience. To inform this decision, they must gather, track, and analyze data to gain critical insights into their online audience.
The number of likes, comments, shares, follows, clicks, etc. you get tells us about the amount of traction you generate through your campaigns.
It doesn’t matter if your marketing campaigns are run in-house or you’ve hired an online marketing company. What matters at the end of the day is that you generate traction through your SMM campaigns. Failure in achieving that is a stark reminder that your marketing efforts need a revamp.
#3 Increase In Traffic Isn’t Translating Into Increase In Conversions
Conversions and traffic are two equally important ingredients in the recipe for making a successful marketing effort. You can generate great amounts of traffic on your website, but if those visitors aren’t converting then, it’s of no use.
Hence your marketing campaign’s prime target must be increasing its conversion rate. Website visits might act as a great confidence booster, but at the end of the day, the value that it adds to your overall business growth is limited. How many conversions you are generating takes priority when charting your long-term growth strategy.
You need to strategically invest in critical search engine optimization to be able to generate traffic, but that is not all. You must back your SEM efforts with a great website that has good content that entices your visitors to subscribe to your newsletter, buy your products, etc.
#4 Your Website Isn’t Ranking Well On Search Engine Results
Search engines like Google are one of the most used online products by pretty much everybody on the planet. As a result, if your business is failing to rank higher on the search results then it’s a clear indication of losing business.
While there is a small margin of websites that just might rank higher than you due to external factors. You can’t let those websites act as an excuse for your weak SEO effort to make your website rank higher.
To rank better on Google search results you need to optimize your marketing strategy according to its performance. You must curate strategic keywords, establish a strong backlink network, create stellar content, and optimize your website to improve your search indexing and traffic-conversion rate.
#5 You Have No Integrated Multi-channel Marketing Strategy
Digital marketing is not a monolithic strategy ergo, you can’t, work in isolation and wish for success. The more platforms you are on, the better your chances of being successful can turn them into engines of growth.
For example, your social media marketing strategy should work in tandem with your content marketing and SEM. All three marketing strategies, when combined, form a formidable force to reckon. Not having an integrated multi-channel strategy for your online marketing is a detrimental mistake businesses make.
Another thing to understand here is the limitations of many businesses, where they might simply not be well-equipped to handle multi-channel marketing. If that’s the case with your business, then you must hire an online marketing company to aid you, but do not let your marketing efforts suffer.
#6 Your PPC Campaigns Are Failing To Help In Your Recovery
PPC or Pay-Per-Click is an absolute powerhouse when it comes to giving your business a boost online. It is an extremely powerful tool when used correctly. PPC is more like an engine jump-starter once the batteries of your marketing strategy die out. PPC campaigns are a short-term growth fix.
Now the critical thing to understand here is that if even your PPC campaigns aren’t yielding any notable results, then it is time to rethink your online marketing. The failure of PPC must be the last straw of your failing marketing strategy that you must get rid of it.
Digital marketing is a dynamic field of work that requires constant evolution to remain potent. Hence it is understandable that your marketing strategy, over time, will lose its sheen. Therefore you must always be alert and keep an eye out for any of the mentioned warning signs.