Small local businesses and medium-sized or even large companies are now using online advertising. This is an inevitable part of marketing. Let’s talk about what makes the success of online advertising and how to achieve maximum results!
Small and medium-sized businesses often have less experience than large companies or corporations. As a result, young companies often expect the effect of online advertising – to invest between EUR 300 EUR – 500 EUR and get a return of 900 EUR – 1500 EUR or more in the first month. Sometimes company representatives expect quick results and high ROI (Return On Investment). Possible! Only the representatives of smaller businesses usually have no historical data (conversions, ROI spreadsheet, client tunnel / road or even a clear client portrait), nor do they have the patience to invest in different strategies because they always want results “today”. We are pleased to have a full range of such successful and quick examples in the first few months. But today we will talk about the mistakes sometimes made even by non-fresh starters…
Effective online marketing:
1. High quality website. Even if your marketing channels work flawlessly – FaceBook advertising, Google AdWords services, Bing advertising, newsletters or other tools… If everything is up to the point and professional, it doesn’t guarantee the success of online advertising. One of the most common mistakes and one of the most important points is the quality of the website.
Several possible errors:
– The site is not suitable for mobile devices, the old type of website, non-visual design, unprofessional photos, poor product description, slow site loading, bad User Experience and other factors. This is a very important piece of work that should be done as professionally as possible.
– Changes to the site are being made, but the results are not measured. Dozens of projects can be counted, which we had to consider to change the menu just after changing the menu layout or rendering – the conversion rate drops. Sometimes even 2-3 times. Solution? Integrate A / B testing tools with any major changes. After the site changes, neither the company’s director nor marketing specialists can answer “we have successfully updated the site, now we will have more sales from online advertising”. Only statistics can answer this question, i.e. we can compare how much sales we had with the old version of the site (A) and how much we have now with the new version (B). Everything! Dot. No discussion and speculation, just real numbers.
– A very common mistake – from the old version of the site, creating a modern, new. There is no heat map. An even more important mistake is not redirecting old site content and not linking to a new version of the site. As a result, we have 40 – 60% less SEO traffic due to non-targeting of content and fewer months of conversion rate! Lower Conversion Rate? Yes, if the client’s path has not been examined so far, consumers have one habit, and you change the cardinal design, the user needs time to develop new habits and understand the site. It takes time. Therefore, the site must be produced in accordance with the old custom and the latest technology.
2. Market size. Are we focusing on higher turnover, but the market is too small? Then we have to expand. Today, a fairly common business development strategy is to copy and replicate successful business in other countries. Although it is sometimes enough to have a smaller market for business. If a product is sold with a high margin and there is no significant competition, such a business model may even be superior.
3. Market supply (competition). Increased number of players in the market, more competition – making it more difficult to achieve successful online advertising results.
4. Product price. This is especially important for competition. If your product is more expensive than your competitors, then conversion rates are usually lower, i.e. you get fewer customers.
5. Quality of product or service. And again … If your product is of high quality, the higher price of the product can still mean a large amount of sales. However, the issue of advertising efficiency is again here, if your website is a poor or poor product description (Item 1). Now you see how every aspect plays its role and how every detail is important to achieve a successful advertising effect!?
Always think about improving product quality. Look not from the angle of your approach, but from the angle of your customers. Every thoughtful and at least slightly improved detail contributes to the quality of your product and improves the overall efficiency of online advertising.
Maybe you are selling smartphones online? Your business is new? Your new customers will be pleasantly surprised if you receive not only a phone, but also a free, stylish phone case at the time of delivery. But don’t hurry your customers to donate! Find out what they really care about, interesting and who can create added value. Maybe buying a new phone would mean free phone apps that generate photo effects? If you conducted a survey and found that your phone is usually bought by young people who like to take pictures of themselves or take pictures of the environment. So a great supplement would be to give the client the paid program for free. This app will improve the quality of clients photos and they can add some photo effects.
6. Technical, financial and visual capabilities. Want a good website and effective online advertising? But you don’t have enough finance for advertising? Or do you hire programmers who integrate marketing tools into your website in 1-2 months? Or designer who paints banners unprofessionally? All these resources are important. It’s important to distribute them wisely but professionally.
7. Online advertising agency. It is important to choose a good online advertising agency, to demand everything professionally and to have the patience to get good results. Of course, if you have successfully implemented all the points described above.
Are you entering a new market or opening a brand new project? Professionally implemented online advertising solutions also require time! As long as your project is new to consumers, your Net Promoter Score (NPS) is zero. Consumers need time to familiarize themselves with your brand, product, service, and various situations. After each new or re-customer service, the NPS scale changes. If the product and service have been smooth, this indicator will improve if the service is not constructive and the customer is not satisfied – the NPS is decreasing. Net Promoter Score can range from -100 (total customer dissatisfaction) to +100 (full satisfaction and good user experience). Sales promotion is done through quality product, service and business enhancement – online advertising tools, employee motivation system or other aspects are important to your business.