5 Smart Ways to Optimize Digital Campaign Cost
Today it pays to be a digital native.
What is the main reason? According to a recent Forbes report, 82% of people search online and 79% shop online.
So you could just as well say that a large proportion of ideal buyers are online.
However, considering how expensive it is to run a business, companies may be reluctant to loosen their wallets and spend additional funds just to market their wares online.
However, you need to know from which direction the wind is blowing!
Because today’s world is digital, and logically, it is imperative for companies to join this trend, no matter what the cost.
However, digital marketing is a measurable form of low-cost marketing.
It is often asked what is the evidence that the fancy digital marketing platforms are actually not burning holes in the budget plan?
Here’s how and why
A study by Forrester Research found that companies that excel in digital marketing can achieve a fivefold revenue growth rate compared to their peers.
According to a survey by HubSpotInbound marketing costs 61% less than outbound marketing and also generates 54% more leads.
The Foreclosure A survey found that companies that switch to social media for customer service see a 33% decrease in the average cost per service request.
Generous, isn’t it?
Digital marketing and digital campaigns are clearly the more economical options.
The numbers are loud and clear, folks.
Digital marketing offers the privilege of tracking all the important details like the page Visits, Unique Visits, Engagement, Leads, Traffic and Conversions.
The careful screening process makes it easier for you to measure Return on Investment (ROI) through the wealth of information and reports these digital platforms collect.
This allows you to analyze whether you are investing your money correctly or not.
Check out the following average costs for the many digital marketing strategies:
Google Ads: $1-2 per click
Facebook ads: $1 per click
Regular posting on social media platforms: Free
Quora Answers: Free
It is evident that certain forms of content such as blogs, verbal and visual posts on social media, and email are completely free.
Therefore, it is a foregone conclusion that digital campaigns are notoriously cost-effective compared to traditional marketing tactics, as the latter cannot outperform this kind of budget pricing.
Below are 5 ways that can be an inexpensive godsend:
This can be a powerful medium for digital campaigns to attract targeted traffic.
Hubspot’s State of Inbound Report found that digital campaigns that blog generate 97% more inbound links to their website.
Therefore, as a key element of content marketing, blogging is an effective SEO strategy when presenting numerous high-quality, keyword-laden posts on relevant topics to the target audience. This improves your website’s search engine rankings and ensures more organic traffic to your website as well as an increase in brand awareness.
By incorporating calls-to-action (CTAs) into the blog posts, such as For example, offering a free sample e-book as an exchange of contact information and email can pull information out and generate leads that the sales team can follow up with over the long term.
OptinMonster’s report, The Ultimate List of Blogging Statistics and Facts, cites countless studies proving the effectiveness of blogging. including:
Businesses that blog generate 126% more leads than those who don’t.
Get blog posts with pictures 94% more views than those without.
companies that blog 16 or more times per month you get 4.5x more leads than those blogging 0-4 times per month.
2. Retargeting Ads
A study by Retargeter concluded that retargeting ads can lead to a 147% increase in average conversion rates.
Therefore, retargeting is an essential mechanism for target group building.
For example, Facebook advertising allows companies to target ads based on location, age, interests, and more. With parameters set about your preferred audience’s online behavior, interests, and demographic details, retargeting places ads in front of those who want to work with you or buy from you.
The MarketingSherpa One study claims that retargeting ads can result in a huge 726% increase in website visits after 4 weeks of continuous ad exposure.
Not out of sight, not out of mind!
The ads serve as a reminder or introduction to your worth. A report from Google found that retargeting ads can increase Brand recall up 104%, searches up 85%, and website visits up 50%.
By seeing how many conversions are occurring and where they’re coming from, you can fine-tune future campaigns even more.
3. Inexpensive content and customer loyalty
If you don’t have a big budget or you’ve spent a lot of money on a certain aspect of a campaign, use your social media to conquer the market by creating a series of posts that deal with a trending topic and fit your campaign brand .
Focus on what your current customers like about your business, including the emails you’ve sent, the content you’ve shared, or the promotions you’ve run.
According to a poll by Social Media Examiner, 90% of marketers said social media marketing has increased their company’s awareness 75% said that this has increased traffic to their website.
Both outcomes can be achieved at a lower cost than other marketing channels.
4. Quora Answers
According to Quora, the platform has over 300 million monthly active users. This makes it an open sea for brands to selectively scout out their tribe and stake out their personal territory.
In this regard, SimilarWeb conducted a study that found that Quora is the third largest source of social media referral traffic after Facebook and Twitter.
In fact, Quora content ranks well in search engine result pages (SERPs).
According to SEMrush, Quora ranks in the top 20 organic search results for over 170 million keywords.
This suggests that Quora has significant potential as a traffic-driving tool for digital campaigns.
5. Email Marketing
Email marketing is a very effective and inexpensive digital strategy.
Compared to other digital tactics, eMarketer reports that email can increase ROI by four times. For this reason, it is the preferred strategy for most companies.
All you need is compelling copy from subject line to body, a timeline that aligns with marketing goals, an enticing call-to-action, and a great landing page.
However, cost-effectiveness does not mean that digital campaigns are cheap.
1. Creating a digital campaign requires a significant investment of time, labor and skilled professionals to perform. Businesses need to hire skilled professionals like graphic designers, content writers, and social media managers to effectively create and execute a digital campaign.
These professionals require reasonable compensation for their services, which can increase the overall cost of the campaign.
According to a survey by Content Marketing Institutecompanies spend on average 26% of their total marketing budget goes to content marketing.
While this is a relatively small percentage, it still represents a significant investment.
2. Digital campaigns challenge companies Invest in marketing automation tools, data analytics tools, social media management tools, email marketing tools, and other technologies to run a successful digital campaign.
A study of DMA found that the average ROI for email marketing is $42 for every $1 spent. While this provides a substantial return on investment, it still requires a gigantic upfront investment in email marketing software, design, and content creation.
These tools require a significant financial outlay that increases the overall cost of the campaign.
3. The cost of digital advertising platforms and channels continue to increase. Platforms like Google and Facebook have increased their advertising costs, making it harder for small businesses to compete.
A study by AdEspresso noticed, that The average cost per click for Facebook ads is $1.72 while the average cost per impression is $7.19.
While these costs vary by audience and target audience, they still represent a significant cost.
Digital campaigns require a budget allocation to pay for advertising fees, which increase the overall cost of the campaign.
According to the Hootsuite According to the results, the average social media advertising budget is $50,000 per year. While this is well below the cost of traditional advertising, it still represents a significant investment for many businesses.
Finally, While digital campaigns are inexpensive compared to traditional marketing methods, they are not cheap. Creating and executing a successful digital campaign requires a significant investment of time and effort, skilled professionals, ongoing monitoring, optimization, and investment in technology and tools. In order to achieve the desired results, it is imperative that companies allocate adequate resources and budgets to their digital campaigns.