How Is Your Advertising Performing? Questions You Should Be Asking
It’s safe to say that most small-to-medium sized businesses realize that they need marketing and/or advertising to remain competitive today. For those who use advertising, there are some essential questions you should be asking and some basic data that you should be examining.
First of all, you need to ask the question “where does my target audience spend time?” Are they likely to respond to direct mail or print marketing, or do they tend to spend more time and interact more online? It may surprise you to know that, statistically speaking, nearly 80% of all local businesses are searched online before a contact or visit is made.
Second question: “What should my message be?” This is critical because no matter how well you reach your intended audience, messaging can make or break the deal. This is where copy writing, or weaving the right words and phrases into your ad or marketing campaign comes in. Depending on how familiar the viewer is with your company, products, or services (i.e. “warm lead” vs “cold lead”), you will need to craft much different ad copy and call-to-action to appeal to different groups.
Third question: “Am I following-up or re-engaging my prospective buyers, clients, etc. to nurture them?” This is critical because, in reality only 2-3% of visitors or ad viewers will convert on the first exposure. That means no matter how great your stuff is, you should assume that nearly all viewers will need a follow-up. This follow-up doesn’t need to be as labor intensive and “old school” as a phone call (although that technique still works), in terms of advertising it can be automated through the process of ad retargeting or remarketing. Basically, any ad viewer who doesn’t convert (whatever your call-to-action was), a small piece of HTML code ensures that they will see you ad again later. Why? Because statistically viewers who see your ad multiple times convert at anywhere from 6-10X more often.
Finally, don’t just assume that your marketing or advertising is working, you need to measure performance. This is where digital advertising wins hands-down over traditional forms, as you don’t have to ask “so how did you hear about us?”, which is hardly scientific. Instead with digital, you get tons of data that shows exactly how many people saw your ad, how many engaged, and ultimately how many converted. So, you know precisely what works and what doesn’t, and you can adjust your advertising accordingly.