Make your paid media work for you, start with thinking about:
Goals: What do you want your digital marketing achievements to be?
Frame this in terms of business goals and how they impact the bottom line. Are you trying to acquire new customers, grow existing customer revenue, reduce churn? Identifying your goals allows you to identify measurable KPIs, which helps determine which channels to leverage.
Your Budget: How to allocate a budget for digital marketing
While traditional marketing channels come with a higher price tag, digital tactics can fit all budgets. Digital algorithms require activity to optimize themselves, so you want to have enough spend per tactic to allow the platform to learn and drive optimal results. If you’re working with a minimal spend, stick to one or two channels. For smaller budgets, it’s also best to focus on one segment and a smaller geographic area. Since paid and organic tactics work together, you will gain more organic traction by focusing your spending on a few areas rather than going broad.
Your Target Segments: There are benefits to targeting a specific market
Who is your ideal customer? You may have multiple customer segments, so start by identifying who they are, why your product or service matters to them, and how it can help them. It can be helpful to create customer profiles to bring your segments to life. As part of this, identify their demographic and psychographic characteristics, along with how and where they spend their time. This informs which media channels will be most effective to reach your target segments, along with the type of creative and messaging that will resonate with them. Lastly, it’s helpful to quantify the opportunity each segment presents, so you can focus on the low-hanging fruit and big wins first.
Next, it’s time to think about your marketing tactics strategy
Speaking of tactics, if you’re unsure which ones are best suited for your business, check out our FREE Menu of Marketing Tactics.
It gives the low down on Email, Social, Search, and Display tactics at your fingertips and gives tips on when to use each.
Each marketing channel has its pros and cons, from a budget, targeting and measurement standpoint. Additionally, you should leverage different tactics at various stages of the customer journey. If your goal is awareness, you may want to utilize YouTube and Social more heavily. Whereas if your goal is driving a lead form conversion or eCommerce sale, Search / Pay-per-Click will likely be more effective and cost-efficient.