Every small business owner wants success with marketing and promoting his or her company so the venture will grow and prosper. And while traditional media marketing efforts are still used frequently, so is an online marketing strategy. An online marketing strategy requires a very different approach to making it a success.
What type of marketing analysis should you do to discover what works and what doesn't? Here are 7 tips to help you in revamping your online marketing strategy.
Analyze Those Analytics
With any type of marketing, whether it be traditional print/radio/TV or online marketing, you should have a way to check the results. The good news is that online marketing analysis is much easier, since digital data can be collected through the behaviors of your website visitor clicks and presented to you in terms of numbers.
You will want to look for visitor numbers, where they land on your website, where they travel throughout your site, and whether they make a purchase. Check data for at least the last 6 months. Compare numbers to when you started a PPC campaign or email marketing effort. Do numbers increase? Is your online marketing strategy resulting in the desired traffic numbers?
Find Your Conversion Rate
One of the main goals within your online marketing strategy should be your conversion rate. This is the percentage of website visitors who actually make a purchase. Keep in mind that not every visitor to your website will buy something. But if you have a low conversion rate, say, below 3%, you may want to make adjustments in your online marketing strategy, your website design and navigation flow, etc., and keep monitoring your conversion until it is at your desired level. A 10% conversion is reasonable and attainable.
Reset Attainable Goals
While you look at your online marketing strategy, you will want to determine if the goals you originally set were realistic. During your marketing analysis, you may find that some goals need to be adjusted so you can realistically achieve them.
Re-Evaluate Social Media Marketing
Not every small business owner chooses to use social media within their online marketing strategy. In fact, only a minority of small businesses do. However, if social media marketing is part of your online marketing strategy, be sure you do your marketing analysis of these numbers and make adjustments as well.
While social media marketing can be a part of a successful promotion and marketing strategy, you may find that you are spending too much time and/or too much money on social media efforts. It is important that you utilize social media marketing only to the level of success that gives you your desired ROI. After a thorough marketing analysis, you may find that you need to cut back on the amount of spending, the time you use to update small business social media accounts, or even adjust the discounts promoted through social media channels.
Test Multiple Landing Pages/Sites
To get the greatest success with an online marketing strategy, you should test multiple versions of a plan to determine what works best. For instance, create two "landing" pages on your website and assign each one to a particular social media or PPC effort. Find out which one gets the most traffic results. That may be the one you want to conduct further tests on, while you scrap the former.
Increase Average Orders
Even if your conversion results are not what you want, you could help reach your sales results by increasing your average online order. Say your average customer buys a $10 product. You might want to encourage upgrades, or accessories, or even combine products together to make a higher average sale.
Connect with Customers
Remember that ultimately you want to make a connection with your customers through your online marketing strategy. People who feel emotionally connected and feel they can relate with you and your small business will more likely make a purchase. Check to determine if your online marketing efforts make that customer relationship connection.