When you’re running a small business, every dollar counts and it is essential to get a strong ROI on all Marketing activity you run. With that in mind, here are 5 tips that every small business can implement to ensure they’re making a profit on their Digital Marketing Campaigns.
- Work Out Your Cost Per Sale
The most important step in creating a profitable Digital Marketing campaign is to work out just how much actual profit you have in your products or services. These costs could include shipping, travel time, materials, warehousing, the list goes on. Once you know the true cost of sale you can then assess any Digital campaigns with greater confidence.
- Know Your Conversion Rate
When you’re forecasting what kind of return you could expect to see on any Digital campaign, it is essential that you know the conversion rate of your website. Whether it be sales or enquiries, the average % of your website visitors who take the desired action is critical in projecting campaign success.
- Pick the Right Channel
This is perhaps the most important factor. Choosing between Digital Advertising options such as Search Engine Optimisation Brisbane, Adwords, Social, Email Marketing, Remarketing or Display really comes down to how much profit you have in your products or services. Adwords is a great channel for fast sales, but as you’ll pay for every click, the cost of running a whole campaign can quickly chew up any profits made on your sales. We recommend you always speak to an expert to see what channel is right for you.