Significant advertising investment is not a guarantee of success. Rather, how a company decides to spend its advertising budget is just as important –– if not more so –– than how much they choose to spend in the first place. Considering that so many business owners are feeling the financial squeeze right now, it’s absolutely crucial for marketers to get the most bang for their buck from their advertising efforts. Thankfully, these four tips will help you boost your return on advertising spend (ROAS). Check them out here:
Track Metrics in Real Time
Plain and simple, professionals cannot afford to ignore how their ads are performing in real time. Make it a point to collect key tracking data on all digital ads –– through call extensions or digital tracking plug-ins. This way, you can determine which ads are resonating with your clientele, and which ones aren’t.
Pull Ineffective Ads
Patience may be a virtue, but successful advertisers are rarely patient when dealing with low-performing ads. True, in some special scenarios, an ad campaign may take months to properly flourish. In the main, though, advertisers shouldn’t use vital capital to support advertising concepts that are failing to deliver results. This may sound simple, but it can actually be quite difficult to pull the plug on an ad campaign –– particularly if you’ve invested a lot of time and money developing it.
Come to Your Customers
Customers do not seek out advertising. If you want to ensure that your ads reach your target audience, you have to strategically place them online, on social media platforms, or within traditional media. On that point, don’t overlook advertising on TV, radio, or billboards. These methods can be surprisingly cost-efficient. Indeed, some resourceful businesses even advertise on jersey barrier lines at construction sites. To sum up: advertisers should seek to occupy the space where their customers spend the majority of their time.
Be Different
Every business advertises. Right now, there are thousands of marketers and advertisers vying for attention on TV, on social media, and through digital advertisements. To stand out in such a saturated media environment, you have to be willing to try something new and different every once in a while. Your advertisements should let your customers know –– in overt and subtle ways –– that your business is different and better than your competitors. Adopting a bold new advertising strategy can make some business leaders feel uncomfortable, but it’s one of the best ways to boost name recognition. And that, ultimately, will lead to positive outcomes.