LSA Bootcamp Portland: Maximizing ROI - Making the Most of a Limited Budget
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This presentation was given to an audience of local businesses at the LSA Bootcamp, a one day digital marketing intensive in Portland 11/1/15. For more about the event and for a look at future events visit www.LSABootcamp.com.
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LSA Bootcamp Portland: Maximizing ROI - Making the Most of a Limited Budget
- 1. © 2015 Acxiom Corporation. All Rights Reserved. © 2015 Acxiom Corporation. All Rights Reserved. Top Tactics to Maximize Online Exposure and Success Maximizing ROI: Making the Most of a limited Marketing Budget Glenn Crockett, Acxiom November 2015
- 2. © 2015 Acxiom Corporation. All Rights Reserved. Understanding New Digital Trends 2 John discovered your brand through a direct mail catalog sent to his home. Susan found you through a web search for “athletic shoes.” Mark saw a mobile banner ad Dan walked by your storefront Christine remembered your name from a Facebook post Jim received an HTML email
- 3. © 2015 Acxiom Corporation. All Rights Reserved. Benefits of Digital for Local Business 3 Levels the playing field between you and the big dogs. Attracts a more mobile, on-the-go audience. Increases exposure! Creates engagement! Generates results immediately!
- 4. © 2015 Acxiom Corporation. All Rights Reserved. Going SoLoMo 4 Question: What are the digital marketing trends you can’t ignore? Answer:
- 5. © 2015 Acxiom Corporation. All Rights Reserved. Signing onto Social Media 5
- 6. © 2015 Acxiom Corporation. All Rights Reserved. Looking Local 6 54 percent of Americans have substituted the Internet and local search for phone books. They’re going online to find the products and services they’re after. And they’re on a mission – 50 percent of all local searches end with a purchase.
- 7. © 2015 Acxiom Corporation. All Rights Reserved. Going Mobile 7
- 8. © 2015 Acxiom Corporation. All Rights Reserved. Gearing up for the Campaign 8 Do you have a website? Is your website mobile-friendly Is there a clear path to conversion with clear calls to action Have you claimed your local listings
- 9. © 2015 Acxiom Corporation. All Rights Reserved. Keys to Success 9 Identify your Focus Define your Target Audience Use Multiple Channels to reach them where they are Test & Learn to Get Better
- 10. © 2015 Acxiom Corporation. All Rights Reserved. © 2015 Acxiom Corporation. All Rights Reserved. Any questions? Thank you!
Editor's Notes
- The ways in which consumers discover new products and services have changed. New platforms, new technologies and new tools to help buyers find the things they want. While the discovery process may have become easier for consumers, it’s made marketing more difficult (or at least more interesting) for us as businesses and marketers. You can no longer control how a potential customer will first encounter your brand. You have to be everywhere they’re likely to be.
- Omnichannel marketing is the practice of creating a seamless experience, both online and offline, in order to capture the attention of your customers. You’ve probably already gotten pretty comfortable with traditional marketing techniques. Now it’s time to go digital to extend the customer experience to the online world. It levels the playing field between you and the big dogs. You attract a more mobile, on-the-go audience. You increase exposure, opening your business to the right people, wherever they’re located. It creates engagement! You can encourage customers to take action, visit your website, read about your products and services, rate them, buy them and provide feedback that is visible to your market. The real-time data digital provides lets you see results immediately, allowing you to continuously make changes to improve your results!
- Wait – SoLoMo? Don’t worry, it’s not contagious. SoLoMo refers to three digital trends that you can’t ignore – social media, local search and mobile marketing. It allows marketers to hyper-target, giving them the opportunity to hone in on their most relevant customers.
- You sign onto social media every day to stay in touch with friends, read content and hear what’s going on in your community and around the world. You have a Facebook account, you have a Twitter account, you’re on LinkedIn and sometimes you “pin” stuff you hope to put in your dream home. Guess what? Your customers do, too. And you can use paid social media advertising to reach them. Paid social media marketing, or social media advertising, is an industry on the rise, with U.S. social advertising revenues expected to grow from $4.7 billion in 2012 to $11 billion in 2017 (BIA KELSEY). That’s an annual growth rate of 18.6 percent! Nearly all social media sites offer affordable advertising rates to get your message in front of a targeted, niche audience. For example, with Facebook advertising you can market your new line of active gear specifically to those users who identify as being interested in hiking, camping or kayaking. This saves you dollars by only showing your ad to the people who are very likely to be interested. Twitter advertising allows you to target your ads by interests or followers, and even offers the ability to upload your own direct marketing or CRM list to re-targeted people you’re advertising to on other channels. With such great opportunities for paid advertising, it’s easy to understand why social media was declared the most effective online paid channel for driving impressions, clicks, and conversions at a low cost (source). It’s also easy to understand why it needs to be part of your marketing efforts!
- Reach these motivated shoppers with paid search advertising. Search advertising options allow you to advertise by a set mile radius around your location or locations’ cities, counties or even zip codes. You can even choose to serve ads to people outside of your location if they’re searching with “intent” in your local area. For example, when someone from Chicago is traveling to San Francisco and searching for a “San Francisco dry cleaner” or “San Francisco shuttle service,” the local intent is understood as being San Francisco, even though they’re searching in Chicago. Google AdWords and Bing Ads both have comprehensive tutorials to help you set-up your search ads in the right locations using the right keywords.
- According to a 2013 Local Search Study, nearly 80 percent of local searches on mobile devices turned into purchases, with nearly 90 percent of those purchases taking place in a physical store (73 percent) or on the phone (16 percent) vs. online (11 percent). Roughly three-fourths (76 percent) of those purchases happened the same day and most (63 percent) occurred within a few hours. That same study found that nearly half of all service, restaurant, and travel searchers were looking for a business they have never made a purchase from before. By leveraging mobile advertising, you get yourself in front of these new potential leads, seeking them out by zip code and other variables. Social media, local search, and mobile advertising all offer you an incredible opportunity to reach a more targeted audience for less dollars. Now let’s talk how!
- You’re ready to hit the ground running, to master SoLoMo and to send hordes of new, and very targeted, eyeballs to your website. But wait… not so fast. Before you go driving users to your website, let’s take a step back and make sure they’re going to enjoy the experience once they get there. You straighten up your house before you’re about to throw a party, right? The same applies on the web. Before you drive mobile users to your website, ask these questions: Do you have a website? This seems like a good first question. While you don’t need a website to advertise online, it’s recommended you create one. Having your own website provides you with a lot of great benefits – many of which were mentioned above. Perhaps the greatest benefit of having your site is that it gives you your own place on the Web. A place to speak to your customers and market to them, and a place that you own and are fully in control of (unlike that Facebook page that may go away with the next Facebook update). It’s one of your strongest assets for marketing. Is there a clear path to conversion? When a visitor lands on your website, be it from a Google search or by clicking on a Facebook page, they came for a reason. There was a conversion, or an action, they wanted to accomplish. Does your website allow them to easily do it? If you’re not sure, this is a good time to do some testing. Give yourself an objective for your site (buy that pair of shoes, download that piece of content, fill out that form, etc.) and test your ability to complete the task. Does the process run smoothly, or do you hit an obstacle? Maybe there’s an area where you required more information, or where you couldn’t complete an action because a button didn’t work or something wasn’t loading properly. Find out now before you’ve invested resources into driving people to your site. Is it mobile-friendly? According to the search giant, more Google searches take place on mobile devices than on computers in 10 countries including the U.S. and Japan. Knowing that (and that mobile is a trend not going away anytime soon), it’s a good idea to ensure your website works on mobile devices. There are many ways to go about this, from creating mobile-specific landing pages, to building a completely responsive website. Google offers a free mobile-friendly testing tool to see how well your site performs on a mobile device. Have you claimed your local listings? We’ve mentioned how local search makes it easy for customers to find the products and the services in their direct vicinity. But if Google doesn’t know you’re located in Gainesville, Florida, it can’t show your business when a potential customer searches for “plumbers in Gainesville.” You miss out on all the great local search stuff. You can’t afford that! Begin building a prominent local search presence by claiming and optimizing your name, address, and phone number (often referred to as “NAP”) all across the Web. A consistent NAP is an important factor the search engines consider when choosing which businesses to show for local searches. 5 Online Listings to Claim Today Your local chamber of commerce. Your Google Places listing. Your Yahoo Local listing. Your Bing business listing. Your place on directory sites like Citysearch, local.com, and YP.com (Yellow Pages)
- Identify your Focus Are you looking to get new customers, keep old customers or grow your customers into better customers. Once you understand your audience and have your focus identified decide which digital marketing methods are best going to help you achieve your goals. You probably don’t have an unlimited budget (and that’s ok!). Rather than scattering your ads and budget over a variety of platforms where they’ll barely be promoted, choosing to advertise where your audience is most active will have the most impact. Defining your target audience will help you decide on which channels to tackle. Maybe you choose Facebook and LinkedIn, or a mix of Search and Display. Narrow your options down to what your budget and your internal resources can accommodate. When choosing what to do, remember that mobile campaigns should run for at least one month to be effective and are most successful when you target the same audience, with the same messaging. And Campaigns work best when the frequency is so someone sees your ad between 15-20 times Start where you are! Identify your best buyers and go from there. Define Your Target Audience and Its Segments First, look at your existing customer base. Are there certain traits about your customers you can identify, such as when they make their purchases, how much they spend or where they live? Start identifying these traits, and see if you find more than one pattern - for instance, you may find one segment of your target audience is young mothers age 25-34, while another service or product you provide is more of interest to men ages 45-54. Once you identify these audiences using data and information you already have (think sales records, Google Analytics, customer feedback), you can begin shaping these trends into example customers or “personas” that your marketing campaigns can specifically market to. Of course, this isn’t just about your current customers. Think about the untapped audience you want to engage, and educate yourself on their interests and habits. Companies like Acxiom can help you with this (small plug MyAcxiomPartner)-We’ve included in their welcome bags The Comprehensive Guide to New Leads Better Customers that goes into this in greater detail! Choose Your Advertising Methods Run Your Campaign (and Revise, Revise, Revise!) Now it’s time to start your digital advertising campaign! Whether you decide on options such as Facebook, Twitter, Google AdWords, Bing Ads, or otherwise, the set-up of the campaigns will have different requirements and processes. Luckily, each platform provides specific instructions to help make the process go smoothly. Be ready to set daily or lifetime budgets for your advertising, when you want your ads to run, what your payment method is, and what creative (messaging, design, etc.) is targeted by ads to each of your custom audience segments.