A decision to sharp shift to the digital platform demands the most pertinent question, how can you multiply revenue through digital marketing? This is one aspect that all companies need answers to as digital marketing seems to be the only way for companies today. Promising much, the digital dashboard is cluttered with confusion for companies who long for better comprehension of how digital marketing can bring refreshing returns. The global pandemic has dampened and even drained many companies of their revenues. Emotional and psychological trauma is even more challenging to cope with. But the good news is that the digital platform is not just a savior but one that holds an accelerated growth and support plan for growing revenues in the near and future journeys for companies. Let us regard how?
What do market experts say?
According to HubSpot Social Media Marketing, most marketeers have increased their budget by 63%. Chief Customer Officer of HubSpot Yamini Rangan says “Customer experience is the number one driver of growth in 2021 and beyond. This has been happening for a while, but 2020 accelerated trends in digital transformation and buyer-seller relationships and there is no going back.” Experts feel that this is the year for building a brand and augmenting customer experience over traditional sales and marketing campaigns. The plan is all about sustaining and surpassing when the time is right. The online market is still new to many about 35% of those who have stepped afresh will have to focus on consolidation while 76% already in online marketing have honed their strength are targeting the primary marketing approaches namely social media, SEO, Account-Based Marketing, Content creation, targeted social ads, generating referrals. In the approaching 12 months, according to HotSpot, they will focus on generating more leads, increasing customer satisfaction, scaling brand awareness. Companies will try to close more deals and concentrate on customer retention.
The market is overwhelmed, and the traffic is too heavy online with the advent of the pandemic from 2020. While you will need an expert plan to lay down one strategy after the other and reinvent marketing leads and residues that shed light on your progress and formulas, change is the only way to move ahead. Keep mastering what you have in hand and move ahead with renewed growth. It is important to segmentize the market that you are targeting. Local areas will continue to be your marketing heartbeat. Likewise, you can segment your products based on demography, age, gender, and location. Make local reach possible, tie-up with local transport facilities for seamless home delivery. Make the most of what you have. Your business is bound to grow beyond. Don’t lose sight of the greater market.
How can you build your revenue with the right channels that will take your business further? While 2020 focused on building a good website, this year the focus is on social media. But remember that all social medial leads would ultimately return to the website, so your concentration should always be on building a powerful website that helps in converting the customers who have followed you from the social media leads. Social listening will be the prime target for companies. Engaging with the social audience, with hashtags and live videos, supporting and finally converting customers to become loyal advocates for the brand will be the tactics. These are the tactics that will largely rule social media ROI. Instagram will champion ROI followed by Facebook, Twitter, and YouTube. LinkedIn, Snap Chat, Pinterest, Tumbler follow in succession.
Emails are occupying the next most significant position in increasing revenues. However, Litmus, in a report on email marketing ROI found that ‘companies with lesser than 100 employees reported an ROI of 38:1 on average, medium-sized companies with 100-499 employees show an ROI of 40:7, and large organizations with 500 or more employees reported an ROI of 47:1.’ It was seen that larger companies have a proportionately bigger opportunity with email marketing as the sending list is larger. Sending emails to a few does not qualify too well on return on investments. Also, many companies adopt permission practices and emails drift to the spam folder not reaching the inbox at all. Therefore, before sending emails a spam test is critical. Those who have reported no success on email marketing are 35% who rarely perform A/B testing on emails. While 43% said that 27-75% of emails they sent included A/B testing. 48% reported that every email they sent was A/B tested.
It was found by Litmus that:
- Those using automated pre-send tools saw a substantially higher ROI (48:1) than those who used the checklist(38:1).
- The emails with dynamic content saw an ROI of 36:1 compared to 44:1 of brands who practice using dynamic content.
- Animated GIF saw an ROI of 46:1
- Live content reported an ROI of 50:1
- Additional analytics with data provide ROI of 43:1
Content marketing is the next most fetching revenue-building strategy in 2021. 82% of companies have already engaged in content marketing pivoting their marketing pitch through content. Video reigns as the most popular source in driving ROI, Blogs feature next with infographics. Case studies are equally popular with interviews, eBooks, White papers, checklists. The success of your content strategy will be measured by sales, web traffic, social engagements, lead generation. onsite engagements, SEO success.
In 2021 the investment in SEO has gone up by 69% and optimizing more is ideal for giving more customer-centric results. Strategic keywords will continue to dominate with 71% influence. Localization will have a 50% share and mobile optimization will take up 48% of the SEO tactics. SEO success will also attract 50% organic traffic, time spent on pages will increase by 45%, click-through rate will be higher than 40%, the bounce rate will be below 30%. A flow of returning visitors can be seen closing on 30%. This makes the place of SEO arguably irrevocable.
Building relationships through personalized marketing experience for marketing segments based on demography. Instead of using reporting tools using attribution tools allows personalized exchanges that lead to greater conversion and interactions. The analysis attributes greater insights through data collection, analytics enhance customer relationships and better strategies can be built based on the results. It gives a better understating of the ROI market campaigns. Making budgetary decisions on programs and investment simpler. It is important to draw a mean between what has been the regular practice and the results of the analytics to increase ROI.
Using bots and live chats on your website is a good strategy to engage customers. In 2021 47% of companies have decided to use bots for increasing their marketing efforts. The incorporation of AI (Artificial Intelligence) with predictive analysis makes the jobs of marketers easier. Adaptation of AI had increased by 190% in 2020. Account-based marketing efforts are being adopted by 70% of companies targeting demographics, creating customer-centric content addressing their pain points. The one place that all of these find a landing platform is social media. Companies following ABM have seen a revenue earning of 53%, they have loyal accounts with a value up to 43%. The tactics used are identifying the target customers, creating customized content for them, researching their accounts thoroughly, measuring the success through robust analysis, with paid ads helping in a faster measurement and shooting direct emails. The most popular tools are Social Media Analytics, Website Analytics and CRM platforms.
What turns revenue into 2021?
Make use of survey platforms or use your survey methods to capture trends and change your strategies based on the report. Invest more in videos. People viewed 12.2 videos in the last year. Short videos of up to 30 seconds were viewed by over 4.8 million. Videos played a role of 30% conversion in 2020. In 2021 Q2 marketers are embracing slightly long videos, in fact, the experiment with length is continuous. Videos that range from 1min to less than 60 minutes are being made and the interest-grabbing points are being closely monitored. Video content that is informative, inspiring, technical, educational, and entertaining are driving the real results. Live is the way to go and companies should keep posting live videos to grab attention. You must show that you are comfortable with your audience and must make them privy to your company ethos with various ingenious techniques. Personalize, engage and bind is the mantra to open the channel for revenue return in this year. Take help from AI, VR and ABM to maximize impact and motivate revenue building in 2021.
Strategize with the expert, you should be guided by a market proficient company that sets the right tempo to your marketing build-up and opens a channel to gravitate revenue. Visit https://www.carneytechnologies.com/ for analytical strategies that are customized to company demands.