Speaking from personal experience, I’m guilty of making all and more of the following mistakes. I also believe the bumps and bruises I’ve suffered along the way could have been avoided if I had only…
Poorly Defining the Marketing Strategy
had a clearly defined marketing strategy, supported by well-defined tactics. For example, customer X’s marketing strategy was to generate more sales leads by running Facebook ads. Most people will think “sounds good to me,” and so did I. A better objective was to get 10 or more leads per month of single mothers earning more than $50k per year that live in county Y using targeted Facebook advertising. We got 13 leads and saved $800 in spend with this tweak, then doubled our leads the second month!
Failing to Test your Digital Marketing Ads
I remember running my first Facebook ad. After reading all the hype and the insane money, people were making online. I thought “piece of cake.” I deployed the “Let’s run some small ads and see what happen” plan. I ran quite a few ads with varying results. When we tweaked our A/B split test approach by tightly controlling variable changes our results skyrocketed.
Conducting A/B split testing by changing too many variables. For example ad A is composed of a picture, copy, with a call to action, and color scheme. Ideally, ad B should be the same as ad A except with dramatically different copy. We’ll keep improving the message If instead, ad B has the different copy with a bolder color scheme, it will be nearly impossible to determine if ad B won or lost to ad A due to the color scheme or the copy.
Not Knowing the Numbers
Just about every marketing tool provides some kind of metric. But if you can’t separate the wheat from the chaff you will be chasing ghosts. Relying on ROI alone is not enough because it expresses a bottom line ratio of cost expended to gain a sale. Converting a stranger into a customer has many intermediate metrics that should be evaluated to ensure your campaign stays on the right track. Quite frankly keeping tabs on those intermediate metrics, and making tweaks along the way will guarantee better ROI results.
Getting more traffic to your website is an evident goal. More people looking at your offerings usually means more sales. Google Analytics provides a massive amount of site traffic metrics which is overwhelming. Check out this informative article from Bplans, The 6 Most Important Web Metrics. After generating sufficient traffic, understanding how well your site is converting traffic into actual sales gets you that much closer to boosting your ROI. Take a look at the 8 Most Important Conversion Metrics from Kissmetrics Blog.
Marketing is Tricky Without a Test and Verify Approach
Many entrepreneurs don’t lack the confidence or the work ethic to build a business. However when it comes to digital marketing many believe only building a website and running AdWords, or Facebook ads is enough to get sales. The reality is digital marketing requires a thoughtful approach that encompasses keen knowledge of your customer base, testing and revising your marketing campaign through careful analysis of traffic and conversion metrics.