As a marketer, you are faced with a variety of marketing avenues to choose from. With options ranging from social media campaigns to billboards at your disposal, you may find yourself at crossroads trying to determine what suits you best. Whether you allocate a $100 or $100000 monthly advertising budget, you still want to get the most out of the marketing campaign. After all, the goal of any campaign is to get maximum ROI. Choosing a great marketing avenue can help you attain that ROI. But how do you determine which marketing avenue will get you a bang for your buck and time spent? A great criterion is to follow ROI records on different channels. Digital marketing avenues are known to have the highest ROIs. Below is a compilation of marketing avenues that had the best ROI in 2020.
- Pay-Per-Click Marketing (PPC)
PPC is still the unbeaten juggernaut as far as high ROI marketing channels go. Your company has to pay each time someone clicks on your Ad. You can use tools like Google Ads to research and select the most effective keywords and determine how much you can pay for each click. Responsive Ads and other Ads that use machine learning can be used to maximize your ROI. PPC has attained the highest ROI marketing channel status because it targets potential customers who are ready to make purchases. The capability of PPC to use advanced targeting options like interest, device, and location makes it even better placed to generate a higher ROI. Generally, businesses that use PPC to reach more customers get an ROI of $2 for every $1 spent. It is, however, more advantageous to use Google Ads that generate an ROI of $8 for every $1 spent.
- Search Engine Optimization
SEO is another digital marketing strategy that is capable of offering a wealth of analytical information. With SEO, you can get basic metrics like bounce and traffic rates to more complex metrics like user flow. This marketing channel allows marketers to have access to any piece of information they would want concerning the strategy in use. SEO is a race to rank better in search engine results. By optimizing your site, you get better rankings, which means more leads, traffic, and eventually sales. Unlike PPC, you don’t have to pay for any clicks. SEO is a long-term strategy. A good illustration of the power of this internet marketing strategy is the fact that organic traffic generated by SEO for more than 40% of revenues.
Your company can take leads from awareness to buying through a variety of email campaigns and audience segments. Another big selling point of this digital marketing avenue is its ability to build loyalty with customers. Better trust with customers translates to better customer retention rates, which is good for business. Email marketing is well known for generating an impressive ROI of about $44 for each dollar spent. The fact that email marketing can personalize with users’ needs and questions makes it capable of generating higher ROI. As a marketer, you can use email to send suggestions, reminding prospects of their shopping carts, and educating the consumers on the industry trends or processes. Almost any industry can effectively use email to reach out to customers for more sales.
The Position of Traditional Marketing Channels with Respect to the ROI
Print marketing remains the most popular and common marketing channel for most businesses. It contributes tremendously to improving the effectiveness of business marketing strategies, hence a greater ROI. However, with this marketing channel, your message reaches a limited audience. For instance, the positioning of your Newspaper Ad determines who sees it. To reach a bigger audience, you will require to complement it with other modern marketing platforms for the full realization of your marketing goals.
If you want a more impressive ROI on your marketing avenues, be sure to use the above-proven ways. Internet marketing dominates in the arena of high ROI marketing. There is a wide range of marketing channels to choose from, which makes it even more confusing. In the meantime, the above-listed avenues are the highest ROI generating marketing avenues for most businesses in 2020.