“I know that half of my advertising budget is wasted, but I’m not sure which half.” That profound piece of marketing wisdom is attributed to John Wanamaker, the “father of modern advertising.”
Now whatever marketing you do you are never going to get 100% redemption. But just like 6 Sigma has revolutionized the manufacturing industry, by focusing on the unobtainable zero waste, high performance marketers target 100% redemption. This way you are always set on improving your results.
Digital Marketing provides a leap forward in edging closer to this holy grail of marketing, by allowing campaigns to be tracked. Not only can emails, online banners, and pay per click be tracked but so can offline advertising too. There are many ingenious ways that Digital Marketing can track offline advertising putting you in the position where you ‘know’ what’s working as opposed to ‘thinking’ what is working.
This will have a massive impact on the results your marketing budget delivers. Simply by pulling money out of campaigns that are not performing, and putting money into areas that prove positive ROI. Not only this but if you know £1000 spend is generating £10,000 why would you not up the budget?
Once you find your company sweet spots, Digital Marketing can be the catalyst of serious growth in your business.
Take a Free Report you offer on your website. You should not only put the ‘campaign’ that they came from and track this through to a sales eg Free Report Download but also what brought them to the form in the first place. If you can track what data capture method people used and then after your ‘sales funnel’ became customers you can push that data capture method more fully. Also if you know that people who download the report after being referred from site X then you can contact site X and do a joint venture.