With so many businesses feeling the pressure of the COVID-19 pandemic, firms which had never previously consider digital marketing are now investigating all the possibilities. Established companies that used to turn significant profits year in, year out are now struggling to break even. Competition is becoming intense, and there has been a noticeable shift towards online sales regardless of which industry or sector you operate in. Digital marketing allows you to reach out to a global audience which will help drive positive business results.
As a digital marketing agency in Bangkok, we are more than aware of the struggles businesses, and indeed consumers have experienced in the last few months. By utilising digital ads on a variety of platforms, you can convey a consistent message to your target audience. The flexibility which is available, allows you to alter campaigns and strategies, almost at the press of a button, giving you the potential to witness instant success. Here are our seven tips using digital marketing to improve your bottom line.
1. Reach everyone in your niche
Large corporations have always had the advantage when it comes to reaching out to wider audiences thanks to the substantial marketing budgets. However, as a smaller business, your objectives should not be to reach out to the whole world but to reach out to everyone in your niche. By targeting your market, you are increasing your chances of putting yourself in front of people who are more likely to engage. Focus on marketing your brand to everyone in your target segment rather than trying to reach everyone.
The objective with your marketing strategy is to enhance the perception of your brand amongst people that matter the most. By using social media platforms such as Facebook, Twitter, TikTok and Instagram as well as having blogs on key industry websites, you create a certain psyche. You put yourself at the forefront of people’s minds, so when they want your products or services, then they will immediately think of you.
2. Make the most of Facebook
Facebook has in the region of 2.6 billion regular users around the world. In 2019, six million advertisers relied on the platform to reach their target audience, and this is a figure which is increasing year-on-year. When used correctly, Facebook is the perfect tool for transforming your year-end figures and smashing your targets. Here are some ways that you can get more for your money:
- Make the most of offers – In Q1, most people slash their advertising budgets after increasing spending for Christmas and the New Year. Do the reverse and increase your spend and earn additional efficiencies with Facebook ads.
- Don’t Forget Instagram – Facebook owns Instagram, so using the two in conjunction gives you the chance to have maximum impact. Instagram Stories can cost as much as 35% less than Newsfeed ads, so this is another avenue you can explore for stretching your budget.
- Be creative – Facebook is renowned for its complex algorithms which can dictate the best places to put ads and the optimum time to do it. Test different strategies and you may be able to gain the same or better results and reduce your spend rather than relying on what Google suggests.
3. Use the data available and trust automation
It is estimated that over 85% of display advertising is programmatic, and almost 70% of advertising is focused on mobile ads. To be efficient and compete with the best, you need to trust the accuracy of this data as well as automation and follow suit.
4. Digital media is the future
The vast majority of advertising is now digital advertising or digitally driven, including TV and radio. Marketers can now access incredibly precise data points that can be used to target specific customers, those who are most likely to be interested in your products or services. Whatever you buy or even search for online, you will likely see a similar ad pop up on social media very quickly. By using this data, you have the opportunity to put yourself in front of quality leads.
5. Utilise identity resolution
It is now acknowledged that advertisers need only one of the three known data points to get the other two. The data points are email address, advertiser ID and cookies. Once you have the information, marketers can refine their marketing and directly target specific groups. Marketers are looking to obtain information such as:
- Household income
- Number of family members living at the address
- Lifestyle preferences
- Spending habits
This information makes it far easier to understand more about your customers, how you should market your products to them, and what you need to do to ensure that they come back for more.
6. It’s important to monitor the results
Your device ID sometimes referred to as your advertiser ID, is unique to your phone. Each app that you use will create billions on data points, and this data is being collated, sold and then used for targeted ad campaigns. With tracking apps, we can even tell when someone saw an advert and judge their response. Did they engage with it, or did it trigger another action? Having this information at your fingertips helps you maximise your marketing budget and increase conversions.
7. Use hyperlocal targeting
Location data is now incredibly accurate, so if you are selling merchandise for a pop star, you will know if they have attended a concert recently or visited a music store. By using gaming apps, internet portals and news sites, you can quickly get your ads displayed in front of these people. The timing is essential, and the placement and timing will be structured around when algorithms think that you will get a conversion.
All this data that we all now have access to was once only available to Fortune 500 companies. By utilising it properly or getting a digital marketing agency to it on your behalf, you can maximise profits and reach the potential which you had always dream of.