According to eMarketer, companies will spend a total of $77.37 billion (38.4% of total ad expenses) in digital ads this year. More companies are increasing their budget allocation for digital marketing and advertising. But are they maximizing the benefits of this shift? Here are some ways on how you can maximize your digital ad spend this 2017.
Consistent Testing, Continuous Refocusing
Digital technologies have given businesses more ways to reach their target consumers. It is important for teams to consistently test their performance in existing channels to see where ad spends appear to be a waste of time and resources. As consumer behaviors continuously evolve, consistent testing allows brands to refocus their efforts on the channels that perform well instead of wasting resources on the ones that barely generate leads.
Go for a Targeted Approach
It’s time to veer away from the “spray and pray” approach wherein brands spread their message and hope for better lead generation and conversion. Targeted banners and other digital media products can generate better leads and sales.
Learn from the Past
Sometimes, old is the new “new.” But this doesn’t mean you should replicate what has been done before and simply revise it to accommodate the new campaign. What this means is that efforts in the past, whether successful or not, can serve as inspirations, guides, and springboards for new campaigns. It’s always advisable to revisit old campaign channels and see how it can be successful now. Ask a reputable digital development company in Encino, CA about your options.
It is important to measure your efforts consistently to compute your ROI. Any campaign will be in vain if teams do not measure and come up with numbers that will prove its success. In business, everything is measured and analyzed. Knowing this, teams should have success parameters to help them measure ROI later on.
If you want to maximize your digital ad spend, make sure you are optimizing all of your channels to extend your reach. As more companies increase their budget for digital marketing and advertising this year, it is important to measure and monitor efforts to ensure high ROI.