How Digital Marketing Can Supercharge Your Cashflow
We’re really excited and pleased to have been asked to present a short talk about how to maximise your digital marketing budget. This will hopefully help Supercharge Your Cashflow.
How does digital marketing fit into your cashflow? That’s simple – LEADS!
So, you’ve set aside a marketing budget – but what are your goals? This will undoubtably be answered with growth in customers leading to business growth. How do you set out to achieve this? You set out a marketing plan. Within this, there will be a budget set aside for digital marketing and multi-channel marketing. Therefore the goal here is to increase conversion rates.
This sounds simple, but how do you do it?
This is how we do it…
A = Acquisitions = how will you acquire them?
B = Behaviours = what do you want them to do?
O = Outcomes = what was the result? (Hopefully a purchase!)
ROI is more than just words. What is your Return on Investment?
Presence is key to success. People research you before interacting with you. They’ll do this across multiple channels so spread your marketing budget across these.
Break down your KPIs. What do you want the customer to do? Click a phone number? Or a more subtle approach by developing your brand – getting people searching for you. This should be a part of your brand strategy to create brand awareness. Track your KPIs through advanced analytics.
Cost per acquisition
If you run an ecommerce business – build value for customers and in turn maximise the value of that customer. It costs 7x more expensive to get a new customer than retain an existing one.
Ask yourself, what is the value of a sale per channel? What is each worth through Google Ads, Facebook etc. These goes back to a previous presentation we did about touchpoints throughout a customer journey – if you want to find out more about touchpoints, please get in touch or request a free booklet we produced on Micro Moments. This booklet accompanied this talk. The content you publish on social media is what sells.
So, what do customers want?
In conclusion, a seamless, fast experience. This can be tied into payment systems as we indulge ever more into a predominantly cashless society. Plan your customer from start to finish and ensure that you would want to buy what you are selling.