Ecommerce is quickly supplanting brick and mortar retail. Ecommerce has grown to eight percent of all retail sales. While this may not seem like a lot, given proper context, it’s actually a massive amount of overall sales. Ecommerce retail sales will grow to $1.915 trillion by the year 2020.
The trend is clear, and businesses will be losing a lot of money if they don’t try to court the digital marketplace. However, digital marketing can be markedly different from traditional marketing strategies. There are a lot of different factors you have to consider if you want to successfully market your product to consumers online. With that in mind, here are a few things your digital marketing campaign may be lacking if it fails to produce results.
You’re Not Tracking the Right Metrics
Some companies just dump ads and marketing materials onto the net haphazardly and expect to see some kind of tangible result. In almost all cases, this is surely a waste of money. Instead, you need to be closely tracking your success. One of the great things about the internet is you have the ability to track the success of a marketing campaign far more closely than with traditional advertising platforms. There is of course no way to tell how many people listened to a radio ad. The only way you can get a close guess to the success of such an ad is to randomly survey radio listeners. That of course means spending even more money with little in return.
With the internet, on the other hand, closely tracking your progress is very possible. However, what metrics should you track? One of the most common is the click-through rate. This is the percentage of people who saw an ad loaded on their computer that actually clicked on the link to reach the website. The click-through rate, though, doesn’t tell you how many people that clicked on the ad went on to make a purchase. For that, you also need the conversion rate. An extremely effective conversion rate is generally over 5 percent. Make sure you are tracking multiple different metrics to measure the success of your digital ads.
You’re Not Learning How to Improve Your Campaign
If those performance indicators show there is room for improvement, tracking such metrics is of course useless if you don’t actually use the data to make substantive changes to your ads and campaign. There’s only a point to collecting such data if it’s used as part of executive assessment. Try to parse the data and find out what lessons you can take from it. For example, a certain landing page may draw in the lion’s share of conversions compared to a certain other landing page. Obviously, one is more effective for a reason. Make adjustments on that page to increase conversions.
Alternatively, you may find you are only receiving conversions from internet users from certain geographic areas. This may be a good reason to alter your campaign to better target the demographic you want to court. Alternatively, it could help you fine tune your marketing to better reach the customers you are drawing in from that location.
Your Campaign Lacks the Human Touch
Whether online or off, advertisements and marketing campaigns that lack the human element and come off as cold or sterile are rarely successful. Just because you are marketing in the digital realm does not mean you should forget to include the human element as well. One great way to do this is with social media outreach in which you can interact directly with individual consumers. Over 80 percent of the US population has a social media account.
Digital marketing isn’t easy. It takes a lot of effort, planning and strategy. However, the rewards you can reap from a successful campaign are massive. Investigate different ways to improve the effectiveness of your digital marketing campaigns.
Lewis Robinson is a business consultant specializing in digital media and sales. He’s begun multiple corporations and currently freelances as a writer and personal consultant.