When your digital marketing budget is tight, you need to make sure that every dollar you spend gives you a positive return. Therefore, you can’t just settle for effective digital marketing methods, when you clearly need something more. In fact, what you need are those techniques that are cost-effective. Even though the landscape of digital marketing changes with each passing year, here are six digital marketing methods that are renowned for their cost-effectiveness.
The first thing you need to understand is that investing in influencer marketing doesn’t mean that you actually need to pay an A-list celebrity to promote you. Unless you’re a major brand you A) wouldn’t be able to afford this and B) wouldn’t be able to fully capitalize on the increase in traffic this brings (due to the lack of capacities). Instead, you should look for niche influencers or micro-influencers that can endorse your brand and, in this way, increase your outreach. As an alternative, you might also want to focus on creating some brand ambassadors and get a bit of the same effect for free.
Efficient content marketing is the most reliable way of establishing audience loyalty and having people come for more, day in and day out. Still, this is a time-consuming practice, seeing as how, nowadays, posts longer than 3000 words are all the rage. These content formats take considerably longer to produce (especially if you aim for admirable quality) but you can’t neglect the quantity either. Your audience will expect frequent updates, which is why you should look for professional content writers or contributors as soon as possible. This is simply too much work for an ordinary person to do. On the other hand, short explainer videos are cost-effective but powerful tool to generate higher customer conversions.
According to one survey, about 27 percent of people who bought from you at one point are likely to come back. When they finish their second purchase, there’s a chance of 45 percent that they will come back the third time around.
Finally, if they finish the third purchase, the likelihood of them coming back for the fourth time is 54 percent. If anything, this testifies that your former customers are a lucrative market and the retargeting them might be incredibly cost-effective. This especially goes if you have something new to offer or a special offer to reward their loyalty.
Improved UX experience
In the previous section, we talked about the chance that your audience will come back, yet, this is only true in a situation where their first experience of interacting with your brand is a positive one. In order to ensure this, you need to make a serious investment in your UX experience. Think about it, if your website is non-responsive, your CTA (call-to-action) buttons are nowhere to be found and your web design is overall sloppy, chances are that even the best marketing won’t make people buy from you. On the other hand, in order to properly integrate your e-commerce into your marketing strategy, you will probably need assistance from a specialized digital agency.
Email marketing is still one of the most cost-effective marketing techniques with a staggering ROI rate of 4400 percent. This means that you’re likely to see it bring in 44 times the amount of money you’re willing to invest in it. Adding reCAPTCHA on your email registration page, using double opt-in verification for all of your new subscribers and separating email types you use by domain are just some organizational tips that you should definitely consider using. On the other hand, even outsourcing this function can be a smart move.
At the end of the day, SEO can help you boost your inbound marketing efforts through the roof. What we mean by that is that you can help your audience find you on their own and persuade them that interacting with your business was their idea all along.
People who aren’t approached with a hard-sell method tend to leave their guard down, which makes them more open towards any suggestion that you might make. This alone can help your sales, subscriptions and overall engagement rate immensely.
As you might have noticed, the above-listed six techniques are merely a rough framework that you can customize to fit the needs of your own business (here, one-size-fits-all options don’t give tangible results). When it comes to the issue of priority (amongst the above-listed six methods), the truth is that you need to use all of them regardless of the size of your company. Since all of these techniques have a fairly scalability-friendly structure, using them might help you achieve a seamless growth.