So you’ve launched your product or service and now you’re wondering, “What’s next?” As a business owner, you’ve probably considered all the various ways you can promote your brand – online and off. You may be familiar with the old saying ‘Location, location, location’ when it comes to real estate. It often applies to digital marketing as well. You may be wondering, ‘Where should I focus my efforts to reach my target audience?’ You might try experimenting with different platforms and campaigns to find the ones that work best for you.
You’ve decided to try paid advertising on social media. You’ve dabbled in SEO and perhaps tried to rank for a few keywords in your area of expertise. You may have even considered paying to have your blog featured on a popular website. But now you’re wondering, ‘How much do I need to spend?’ And, ‘Is this the best use of my limited funds?’
If this is the case, you’re in luck because you’ve come to the right place. We’re going to walk you through a proven strategy for marketing your business online – without wasting a single dollar.
Set A Budget
One of the first things you should do before starting any sort of advertising campaign is to set a budget. Now is the perfect opportunity to examine your finances and see where you can cut corners. Think about what’s important to you as a business owner and set a budget accordingly. Perhaps you’re looking to spend less on social media and more on web design, SEO or content creation.
Determine Your Goals
After you’ve set your budget, it’s time to set your goals. Consider what you’re trying to achieve with your paid online marketing strategy and how much you’re willing to spend. Set measurable goals and review them at the end of each month. Perhaps you’re looking to gain 10 new fans on social media or increase your average order value by 10% within the next month. Consider the resources available to you and create an action plan to reach your goals.
Some businesses will only consider working with an agency or freelancer that they know will produce results. They don’t want to waste their time working through social media, SEO or content creation on their own, so they opt for a tried and tested method.
The next step is to gather some materials. This includes the money you’re willing to spend, anything that can help you measure the results of your campaign and the people you’ll need to collaborate with. The more you have, the better. You never know what sort of tools or platforms you might need to use for the project. So make sure you have everything before starting.
Develop A Timing Strategy
Timing is everything when it comes to paid marketing. You want to try and align your campaigns with a marketing schedule – maybe around an upcoming holiday or seasonal event. This ensures you can target the right audience and maximise your results.
For example, if you’re promoting a fashion brand and the best time to sell a product is during a fashion event, then you might want to consider advertising on a relevant fashion blog or social media platform during that time.
Choose Your Platforms
The next step is to choose your platforms. There are hundreds of different social media sites out there but if you’re serious about marketing your business, then it’s worth considering choosing a couple of the most popular ones.
You’ll want to have a presence on several platforms so you can gain access to as many audiences as possible. It’s important to remember that not all platforms are created equal and some will reach beyond your expectations while others might underperform.
Set Up Measurements
Once you’re on the platform, it’s time to set up measurements. These are objective, measurable tasks such as getting leads, engaging with customers, or increasing website traffic.
The best way to determine the effectiveness of your campaign is by tracking metrics. Platforms like Google Analytics allow you to see where your audience is coming from, how they’re engaging with your content and the overall performance of your campaign. This way you can easily identify the areas that worked and the ones that didn’t. Finding the right metrics to measure your success can be more challenging than setting up the measurements in the first place. Take your time and find the right stats that will give you an accurate representation of the performance of your campaign.
Choose The Right Measurement Plan
The last step is to choose the right measurement plan. Just because your budget allows for paid ads doesn’t mean you have to solely rely on this to determine the success of your campaign. You could consider using various sources of income – both online and offline – to measure the results of your marketing efforts.
For example, if you’re promoting a clothing brand and want to measure the success of your campaign by looking at your revenue, then you might want to consider investing in some fashion magazines or trade publications that carry your brand. You can’t necessarily measure ticket sales for concerts or the amount of times your product is mentioned in a newspaper article, but you can track the results of your campaign financially speaking.
PEMF (Pay-per-engagement metric fund) – The Best Way To Spend Your Digital Marketing Budget
You’ve probably heard of digital marketing “split testing” – creating multiple versions of a design and trialling different layouts and copy to find the one that performs best. While this is an invaluable tool in the right setting, it can be extremely time-consuming to execute. Imagine spending a week or more testing different fonts, colours, and copy for a single page alone – not to mention the added stress of maintaining multiple versions of the page. For larger businesses without the resources to devote to split testing, pay-per-engagement (PEMF) marketing is the answer. This is where you pay for each action a user takes – whether this is filling out a form, making a purchase, or just visiting your website. You can track the results of every action individually so there is no need to maintain multiple versions of the page. This makes PEMF a much more efficient solution.
PEMF marketing is a bit like a gym membership – you pay for the opportunity to engage with a targeted audience and get measurable results. This is also one of the few times it’s acceptable to spend money on advertising. You’re not necessarily “selling” anything when you spend money on PEMF – you’re just trying to engage with and convince an audience to take a specific action. This makes it okay to spend money on PEMF since you’re not “affliate” with the advertisers whose products you’re promoting.
If you’re interested in trying PEMF or would like to see how it works in practice, then feel free to reach out to our team today!