Did your marketing make an impact this financial year?
As we say see ya later to another financial year shortly, it's the ideal time to take a step back and evaluate the impact and return on investment (ROI) of your marketing efforts.
With the amount of time, effort and money poured into marketing activities across various digital and traditional channels, it's critical to analyse what worked and what didn't — and of course how you can improve your strategy from here on.
Common money wasters that don't get ROI
It’s not the size of your budget, but the way you use it. One of the biggest pitfalls businesses face with their marketing is throwing money at too many channels or tactics without a cohesive strategy.
Sporadic social media posts, an iffy website, off-brand content, or misaligned campaigns are all surefire ways to see your budget go down the drain with little to show for it.
Lost leads and what causes them
Even if you are generating website traffic and leads from your marketing, leaks in your sales funnel could be causing prospective customers to fall through the cracks.
Things like poor user experience, lack of nurturing, and inadequate follow-up can lead to expensive losses of hard-earned leads. While digital automations and solutions can help immensely, it’s first a matter of identifying the gaps and developing strategic fixes for them.
Going in with a plan
It may seem obvious, but even the biggest brands and businesses can lack a clearly defined marketing strategy, plan and budget.
The result of this? Picking random channels to try, and overspending in some areas, while under-investing in others. Not allocating sufficient resources in the right places leads to haphazard execution and wasted opportunities. Effective digital marketing starts with setting clear, measurable goals upfront tied to target audience research.
What will you do differently to get results?
If your digital marketing ROI fell short of expectations this past year, it may be time to rethink your strategy from the ground up.
Combining research-driven strategy with exceptional creative execution is a one way ticket to driving higher ROI — it all starts with understanding your goals, customers, and industry. From here a unified digital marketing strategy can be developed.
At Kick, we partner with businesses to deliver this, then handle every aspect of the campaign execution and roll-out across web, social, content marketing and more. Transparent measurement and regular reporting keeps everyone accountable and committed to hitting your targets and maximising your return.
Rather than resigning yourself to another year of disjointed digital efforts and disappointing returns, maybe it’s time to take a fresh approach.
If you’d like an honest evaluation of where you’re at and how your impact on the market can be enhanced, a chat with the Kick team could set you on a solid route to ROI you can be proud of in the next financial year.
