The Surprising Reasons For A Negative Marketing ROI
For small companies, marketing activities represent the major part of the yearly budget. Without marketing, there can be no business. However, it can be frustrating to spend a lot of your budget on advertising campaigns that somehow doesn’t bring the expected results. Is your PPC campaign just draining funds without turning enough leads? Or is your magazine advertising a gaping hole in the budget that refuses to drive any sale? The problem with marketing activities is that they can be easily associated with an ROI. How much did you pay vs. how much did you get in exchange. A negative ROI in marketing is a nightmare for all small businesses that struggle to keep their budget in the green. What’s even worse is that it sometimes feels like you’re wasting money for no reason. But you still can’t find a way to improve your marketing activities – maybe you even believe that you should invest more to see positive results. Stop wasting your budget on marketing and address the underlying issues. There can be only three reasons why your marketing activities don’t work:
#1. You don’t have the right technology
It doesn’t matter how much you’re spending on marketing activities. If you don’t use the right technology, you’re wasting your budget. Instead, you should have a look for the latest software solutions and app-based programming advertising tools. Indeed, your customers live in a digital world where everything is tailored and fast-paced. If you’re not using the relevant tech to comply with their savvy habits, it’s likely that you’ll be ignored. More importantly, automated software and compiling data tools can help you to create a fast and smooth marketing toolbox that gives you updated in real time.
#2. You don’t have a strategic plan
More than 70% businesses don’t have a marketing strategy. In fact, they tend to choose their marketing activities as a response to their competitors’ campaigns. If a competitor has invested a lot of effort in improving their SEO, then you decide to beat them at their own game by creating content for the same keywords. Don’t smirk as you read: it’s, unfortunately, a very common approach. Instead, companies need to work with a marketing strategy template that helps to analyze the situation and maximize opportunities with the best-suited activities. Don’t know how to create a marketing strategy? Don’t panic; steal these templates that give you a clear guideline on how to proceed. In the end what matters is to create a strategy for your company so that you can move in the right direction, instead of copying what competitors are doing.
#3. You don’t have the right expertise
You need these experts in your marketing team: An Analytics expert will be able to read your Google Analytics data and guide your SEO strategy accordingly. A content writer can create valuable, engaging and targeted content to attract visitors. The designer and developer will give your presence – online and offline – the right user-friendly and trend-conscious feeling. Finally, the marketing manager can lead the team in the best strategic direction.
Small businesses need to take their marketing activities seriously. Success is not the work of a single person anymore. It’s the combination of the best technology with the best strategy, supported by a team of experts. If you thought you could do it all alone, think again!