Since August, we’ve concentrated a lot of our efforts into sharing our online advertising know-how with the public. From our event, How to Find and Build Your Audience Using Digital Marketing, to our free training shortly after, imparting our expertise on those who are dying to know digital marketing trade secrets has been a recent trend. We continued this week with a webinar and very special guest in the form of bestselling author and podcast host, Chloë Thomas.
A Whistle-Stop Tour of Online Advertising
Not everyone has time to travel to an event or get to a venue for training. Logging into a webinar for 40 minutes is markedly easier, however. Our webinar gave listeners a whistle-stop tour of various aspects of digital marketing, spanning both Adwords and Facebook advertising as well as tips on finding the best type of online advertising for your business, and why online advertising is an absolute must for your business.
The Customer Masterplan Model
Chloë’s starting point for enhancing your customer base through online advertising is her very own Customer Masterplan model.
This then goes in hand with the ‘Customer Lifetime Value’ graph below.
These graphics provide the basis for understanding your audiences and therefore tailoring your advertising to your needs. To further break this down, we’ve condensed our key takeaways from the webinar into ten digestible chunks. Our ten commandments for online advertising, if you will.
Not all traffic is created equally.
The further along a customer is in the first diagram is directly proportional to how valuable they are to you and your business. There’s also an issue of quality over quantity in the Customer Masterplan model; you’ll have far more visitors to your website, than repeat buyers, for example. But one repeat buyer is worth ten visitors in terms of likelihood of conversions.
Identify your weak spots.
Do you have more email contacts than you can shake a stick at but can’t engage with them effectively? Are you struggling to turn one-off buyers into loyal customers? Knowing where you need to improve and concentrating your efforts in those areas makes for a much more efficient strategy.
Don’t invest too heavily in one audience whilst ignoring other parts of the customer journey.
As can sometimes be the case, a business will invest too much in one area of advertising which can cause stagnation. Investing mainly in lead generation, for example, can mean businesses get stuck between stage 3 and 4. Depending on the stage your business is at, a certain type of online marketing will fit the best.
Organic search doesn’t just get helped along by paid search. Together, they’re a force to be reckoned with.
Studies have shown that by using paid search (Google and Bing) alongside organic search can almost double conversions on eCommerce sites (Castora, 2016). Paid search also means you can widen or restrict your traffic intake as you see fit; you will get the sales if you optimise the traffic.
Once you’ve set up your advertising, don’t just leave it!
It’s incredibly easy to set up an online advertising account, chuck some bids in there and set up some ad groups quickly. It’s considerably more difficult, however to get a brilliant return on your advertising investment this way. Regularly checking up on how your ads are performing and optimising as necessary is crucial to the success of it.
Don’t be afraid to test, but make sure you’re getting things out of that testing.
Sometimes, using obscure approaches can offer lucrative benefits to your advertising. It’s always worth testing out new approaches but it’s equally important to take stock on how well these experimental approaches worked, and if they don’t offer the amount of success you need for your business, you cease that activity and learn from it moving forward.
Similarly, it’s all quality over quantity with your strategies.
Spreading yourself too thin with your online marketing is a recipe for disaster. A “scattergun approach” – as Chloë refers to it – guarantees far less success than a concentrated, quality-over-quantity approach. Rolling yourself out onto all advertising platforms and investing minimal time into each will yield less success than if you were to invest a considerable amount of time into one or two of them.
Social media testing will be your best friend.
Using the right social media platform to advertise can be incredibly lucrative. At the moment, Facebook is having the greatest impact with 89% of the same stating the use Facebook, with a whoppping 64% of them saying they get the greatest amount of sales from it (Channel Advisor, 2015).
Never underestimate the power of remarketing.
One of the ultimate struggle of eCommerce companies is almost snagging a conversion, but the potential customer quitting the transaction at the last minute. Remarketing can help nip this in the bud, and eCommerce businesses are starting to cotton on to this, with brilliant results. For so many businesses, this has brought about the completion of these conversions as well as customers coming back to their websites to make more conversions in the future. Remarketing will not only likely complete these purchases, but help your business establish its ‘regulars’.
Your ‘regulars’ will become one of your most valuable resources.
Your regulars are passionate about your company; they know your products, your ethos, your style… and evidently, they love it. Whilst you want more of these, it’s crucial to learn from the. Use audiences that match the kind of people they are, build remarketing campaigns to turn one-off buyers into regulars; what works for this audience will have positive effects on others. Work your strengths to get more ‘regulars’.