Get the Most Juice From Your Marketing Squeeze Three Tips to Help Maximize Marketing ROI

When you're a small- or medium-size business with a limited budget, , you need to maximize your investments. Marketing is a key component for growth, but for companies with tight resources, how do you make the most of your marketing efforts?

Here are a few tips:

1. Define Key Performance Indicators

A successful marketing plan always comes back to metrics. Marketing drives sales. How will you measure success? Is it through the number of leads you bring in? Is it through page views or clicks and open rates? How will you convert the leads you generate? Understand and define these key performance indicators beforehand so you can repeat a success or identify opportunities for improvement.

2. Utilize a Multichannel Marketing Strategy

Reaching out to your audience through multiple channels is an excellent way to create a lasting impression. Email and social media may be inexpensive, but each generated identical response rates of 0.6 percent in 2016. Direct mail, while costlier up front, garnered a 5.3 percent response rate—the highest mark reported by the Data & Marketing Association since 2003.1

Maximize response rate on your campaign by utilizing elements of social media, email and direct mail. Create a direct marketing piece, drive the point home with email and follow up with social media. Some of the most successful campaigns cleverly use all three channels to engage with their audience.

3. Measure Social Engagement

Social media can be a powerful tool. However, different social networks need to have different metrics. Facebook, Twitter, Instagram, and LinkedIn while all social media-each have unique intents.

Monitor what types of content or posts garner attention (and what types don’t). Do people merely like your posts or are they sharing? How are they engaging? There are many low-cost social listening tools that have built-in analytics which can help you track the effectiveness of your campaigns.

"There is a growing belief in business that the purpose of measurement is to justify projects and investments. It isn't. The purpose of measurement is to understand projects and investments. Then, we use that understanding to take action."

Pratik Dholakiya, Founder, E2M

1. Data & Marketing Association. DMA Response Rate Report (2016)

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