There are merits to the old school advertising methods like print ads, signage, and billboards. In today’s world, though, the average person spends close to seven hours per day online. That makes digital marketing essential for any business that wants to thrive.
If you aren’t handling your digital marketing with skill and expertise, you could be money out the window. Start by asking yourself if you’re making these common online advertising mistakes.
1. Jumping In Without a Tracking System
It’s easy to get excited about a new digital advertising opportunity and leap before you look. If you don’t have a way to track your success, though, you won’t know if your money is going down the drain.
For each advertising medium you’re using, come up with a list of metrics to gauge its success. That could include a number of clicks, impressions, conversions, or whatever is appropriate to the medium.
Establish a schedule for checking these metrics, such as on the first of every month. This helps you keep tabs on your ads, see which ones work best, and make adjustments to make your investment more profitable.
2. Putting Too Many Eggs in One Basket (or Vice Versa)
When it comes to the number of different digital marketing strategies you use, there’s a critical balance.
If you put your entire budget into one or two ads, you lose a lot of money if they fail. That also means you can’t compare a variety of ads to see which ones work on which mediums.
The opposite problem is dividing your budget between too many different ads. You might hop around and advertise on one platform one month and a different platform a different month. If you do this, you aren’t investing enough in any platform to give it a fair chance.
3. Having No Organized Pipeline
Online advertising is a great way to pull in leads, but then what? How do you convert those leads into customers? You need a clear pipeline, and sales enablement software is an easy way to set it up.
What is sales enablement software, you ask? It’s a program that brings together everything you need to nurture your leads: content management, analytics, and so on. This lets you track and complete all your communications with leads through one central system.
4. Appealing to the Wrong Audience
You’ve probably done great research to define the target audience for your business. If you advertise on a platform that only caters to a subset of that audience, that’s the subset you need to appeal to in your ads.
In other words, in your online ads, you need to appeal to the audience that is present on the platform, not the audience you wish was present. If a platform’s audience doesn’t have much overlap with your target audience, advertise elsewhere instead.
Steering Clear of the Top Online Advertising Mistakes
Digital marketing is a strategic art form that takes careful planning and expertise. To make sure every dollar of your ad budget is productive, take an inventory and see if you’re making any of the online advertising mistakes above.
For more great tips on building your business and wallet, check out more articles on our blog.