A global recession is likely to occur in 2023; it’s high time you eliminate wasteful spending and optimise your ad spending (without compromising on the customer experience!). As per reports, approximately 26% of the marketing budgets are utilised on ineffective channels and strategies, leading to 20% of the budget being misspent.
Getting the maximum out of your ad spend is vital to boost the ROI. Here are a few tips to help you make the most of your digital marketing budget while driving effective results for your business:
Know Your Target Audience:
The first and foremost step to getting the max out of your ad spend is learning who your target customer is. Understand their needs, demands and pain points, and create buyer personas to understand the target audiences better. Leverage this information to create ad campaigns that will resonate with them.
Segment Your Audience:
After learning who your target customer is, it’s essential to segment them into different groups. Segmentation will help to create specific targeted ad campaigns for distinct groups. You can segment them based on interests, demographics, locations, age and more.
Select the Suitable Ad Format:
There are numerous ad formats to choose from, and the suitable one for your business will depend on factors such as your budget, expected results, and target audience. Some of the most popular ad formats are video ads, display ads and social media ads.
SEO Optimised Keywords:
Keyword research is necessary as it allows you to see the keywords searched by your target audience. Also, it helps you discover the competition that exists for each keyword. Leverage the researched keywords and create campaigns to reach the target audience.
Curate a Persuasive and Appealing Ad Copy:
A personalized ad copy grabs the attention of the target buyer by using solid words that resonate with them. The use of high-quality images and videos in different formats, such as carousels, statics, GIFs and more, can help pursue the target audience.
Audit Your Ads
In times of economic uncertainty, it’s essential to be aggressive about maximising ad spend. To achieve this, you need to review your advertising efforts and audit ads to learn what’s working and what’s not. In this process, focus on the following aspects:
Channels:
- The spend and ROI of each channel
- Highest and Lowest performing channels
Targeting:
- Is everyone in the target audience a good fit for the brand
- Can the targeting be narrowed down
Landing Pages:
- Is there continuity and relevance for the consumer from your ad to the landing page
- Is the landing page static or dynamic
Engagement:
- Which ads are driving the maximum and the least engagement
- Is the most engaging ad generating the maximum revenue
- What is the cost per click and cost per conversion
Periodic Testing & A/B Testing
To make every rupee count, it is vital to test the messaging before launch and continuously optimize the website and landing pages toward conversions throughout the entire lifecycle of each campaign. A/B testing can be time-consuming and costly, but it helps in understanding what works. It will help in delivering a seamless ad-to-website brand experience, thereby elevating the customer experience.
Rely on Automation
To be effective, efficient and keep up with times, it’s crucial to count on automation to constantly optimize your ad spend, landing pages and customer experience. Programmatic advertising automates the purchasing of the ads via a real-time bidding process to deliver hyper-targeted ads to the appropriate audience. Moreover, automated segmentation helps to automatically group people together based on their shared interests, this helps in curating hyper-personalised experiences. Automation helps in saving your time, money and resources.
By following these eight tips, you can get the most out of your ad spend without compromising on the customer experience. However, there’s nothing like expert guidance. To get industry expertise, it’s best to get in touch with the best Performance Marketing Agency in India, Digidarts.
With over 8-years of experience across numerous industries, let them be your ultimate guide for marketing strategies and ad spending maximisation. With a solid strategy, and the latest tools and technologies, they will ensure that your ad campaigns are thriving.
