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August 8, 2021
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Digital marketing, for the most part, is straightforward. Nowadays, anyone can set up an ad campaign on Google or Facebook and start getting clicks. The competition is high and it seems like everyone wants a piece of the action online.
With the rise of new age tech and mainstream startups, there are no limits to the ways you can get people’s attention. We have click-based ads, YouTube ads, banner ads, story ads, etc. But at the same time, digital marketing is also becoming more difficult.
While serving ads is relatively easy, the biggest challenge for most startups and digital marketers is getting a ROI on the advertising dollars spent on these various channels. It is difficult to get ROI because financing ad spend is difficult, unless the customer transacts with you and makes a profit for you,
Anyone can fund ads with investor money in the early stages, but it’s not a sustainable way to build the funnel in the long run. The most important question to ask in digital marketing is not how and where to deliver ads, but how to ensure that there is a return on investment on the ad dollars spent and sustain campaigns over the long term. .
Related: 5 Powerful Digital Marketing Hacks To Increase Sales
The funnel concept
There are different stages in the funnel, and the only way to make an ad campaign work is to make sure that all the stages in the funnel are built solidly. In general, branding campaigns are out of the question for small businesses that are just starting out. Just putting your brand on TV and on banners will not convert viewers into customers.
Digital marketing becomes more effective when it focuses on lead generation. Collecting names, emails, and phone numbers is the best way to get potential customers down the funnel. And the best way to get viewers to sign up is to give them a free resource in return. This is generally referred to as a lead magnet because it attracts leads. Think of it as an ethical bribe that you give the visitor in exchange for their email id and permission to re-market it via email.
Most brands (both B2B and B2C) mess everything up after this step. Prospects are cold and won’t be able to buy your product or service. Confidence must be built. Confidence grows with engagement, and with engagement comes good content.
Since the advertising campaigns are large scale, the development needs to be done on a large scale. And the only way to nurture thousands of leads is through marketing automation. Marketing automation also needs to be personalized on a large scale in a process I call deep marketing.
Deep marketing involves creating a marketing funnel where each segment of your potential customers and prospects gets unique content that is relevant to them. The higher the relevance, the faster cold runs become hot runs. The process of converting cold leads to hot leads takes time, and the best way to accomplish this is to send a sequence of emails spaced out over a 2-3 day window.
Related: Here’s How You Can Have a Perfect Digital Marketing Plan
The value of hot leads
Trust must be established before you can start selling to prospects. You need to nurture leads over time to effectively convert cold leads to hot leads. But hot slopes are not the solution. Hot prospects don’t put money in the bank. Friendly prospects need a boost if you want them to become paying customers. You need to gently push them into a transaction without appearing shady and arrogant.
While the first step is attention and the second step is confidence building, compelling copy and a sales pitch is the third and most important step in the sales funnel.
Someone who trusts you doesn’t mean anything until they are willing to use that trust to transact with you. Hot leads can be converted into paying customers using a variety of sales methods. You can use sales pages, sales videos, sales meetings, group sales through webinars, or even offline meetings.
The effectiveness of an advertising campaign does not only depend on the advertisements, but on the sequence of development and the effectiveness of sales. If the deal goes through successfully and generates a profit, you can profit from it and reinvest it in advertising campaigns to grow yourself.
This process, carried out long enough, is building a reputation for the brand. Brand reputation also contributes to ad serving and increases response rate metrics such as click-through rate, visitor-to-prospect ratio, and prospect-to-customer ratio.
Related: How to Navigate the Rapidly Changing Digital Marketing Landscape