Improve marketing ROI by leveraging technology

January 27, 2022

Find out how to improve marketing ROI by leveraging technology

In today´s always-on, always-connected world, effective marketing is essential. Most firms now face competition from global and national players as well as local competitors, who sell similar services and goods, Therefore, investing in marketing and seeking ways to improve marketing ROI became crucial for business success.

Think about how often something has caught your eye and you have ended up buying. We all do this regularly in both our personal and business life because of some form of effective marketing. Be it social, physical, or digital. Hence, most business organizations recommend spending between 8 and 12% of marketing profits.

Re-investing at that level creates new leads, attracts interest, and ultimately results in sales growth. The amount that is spent depends partly on the size of the company and the sector they are operating in.

8 smart ways to use digital technology to improve marketing ROI

The fact that marketing is not cheap and that it is the pumping heart that delivers sales growth means that business owners need to ensure their efforts are effective. Using technology is one of the best ways to improve marketing ROI. It enables companies to work faster, do more in less time, be more targeted and analyze the effectiveness of each marketing initiative.

Here are a few examples that demonstrate this. They are all technologies that any business, big or small, that wonders how to improve marketing ROI and effectiveness can potentially use.

Create and deploy advertising fast

In a fast-paced world, trends come and go very quickly. Those companies that spot and respond to them are the ones that make the highest profits. This is especially the case for product retailers.

Take for example the Celebrity Effect in the fashion industry. When big stars wear a certain item and those images go viral, for example, a dress, sales of that style of dress soar. Fashion retailers that watch for this and advertise the fact that they sell that style of dress can cash in on that brief blip of consumer interest.

Use digital display advertising for super-fast ad creation

That is one reason so many fashion stores are marketing using digital signs and display screens. They have spotters trawling certain news outlets and social media accounts so they can spot hot trends. When they spot a new trend they look at their stock and identify anything that fits in with that trend.

They then call a model or use a staff member to get that item or outfit photographed. Then use simple image creation software, which is usually packaged with digital advertising screens, to turn it into a store advert. That image is then sent digitally to all outlets and used on their in-store display screens to increase sales.

Create content that can be used across all advertising platforms

Another way how to improve ROI in digital marketing is by creating content that can be used across all advertising platforms. The images or videos that are created in this way are crafted to enable them to be used across all marketing platforms.

Usually, flash social media and online campaigns are also created using them. Later, some of those images may be used for leafleting or blown up to decorate stores or for fashion shows and expeditions. You can find good graphics tools for quickly creating stunning promotional images online.

Use plenty of small campaigns to improve cash flow

This extremely fast response to trends provides the businesses that use this technique with regular cash injections. Campaigns that create fast returns improve cash flow and it is far easier to analyze and improve marketing ROI.

Create buzz and improve brand awareness

These small flash marketing campaigns also create buzz and improve brand reputation. Particularly among younger consumers. Brand awareness is the first step in the marketing funnel. If people can recognize your business, you can improve marketing ROI easier than if you were unknown among your target audience.

Tap into the power of email marketing

Improving brand awareness also provides a legitimate reason to contact people via email or SMS marketing lists. Email marketing is still incredibly powerful. It is now relatively easy for businesses to get the balance right and avoid annoying or spamming consumers. Using the right email marketing software helps with this as well as providing in-depth analysis of the effectiveness of each campaign.

Analysis is crucial

Regardless of what type of advertising or marketing tools are used, measuring the effectiveness is crucial. Without analysis, there is no way to know what works, what provides the best return for every dollar spent. Fortunately, with today’s variety of tools for analytics, you can easily find a tool to measure your efforts.

Moreover, you can hire an advertising agency to do the job professionally since they always include analysis as part of their package.

Use marketing to learn more about your customers

Our last tip to improve marketing ROI is to find ways to learn as much as you can about your customers from your marketing. How they respond to the various campaigns and methods you use tells you an incredible amount about what they respond positively to.

Conclusion

Technology undoubtedly made it easier to improve marketing ROI. With millions of digital solutions, marketing tools, and insights, you can be sure that with good research you can create a winning marketing strategy and constantly improve marketing ROI. To do so, first, go through the techniques we’ve listed and implement the ones you find suitable for your business goals. Lastly, remember that marketing is something that always changes and requires you to stay awake for news and improvements.

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