What is the #1 Return On Investment (ROI) digital marketing strategy you should be using in your business this year?
Unfortunately, Digital Marketing is still really complicated. (No changes there)
But while the complexities remain, they don’t need to hinder your growth efforts. In fact, in a weird way, they can really help them.
Let me explain…..
With Google, Instagram, Facebook, Youtube and a never-ending list of other advertising alternatives popping up, there is a growing trend among businesses to do a little bit of everything.
While this enthusiasm and willingness to try new things is admirable, often the results are not.
Dilution. Most businesses have a fixed set of resources to throw at marketing. Be it time, money, staff etc — there is only so much of a business’s resources that can be allocated to marketing.
So in an effort to not be left behind, businesses take their fixed allocation of marketing resources and try and spread it further and further across different strategies and platforms.
The results? Usually, as the scope gets bigger and bigger the ROI gets smaller and smaller.
So how is this an opportunity for your business?
While everyone else is pushing to do more and more, you should be pushing to do less and less.
One of the all time greatest marketing books, The 22 Immutable Laws Of Marketing talks about “The Law Of Singularity”. The idea being that the majority of your marketing ROI is going to come from one or 2 core strategies, and instead of spreading your resources across everything, you should instead, double down on what works best.
This sentiment is mirrored by the pareto principle (80/20), the book The One Thing by Gary Keller, by the surf instructor Kunu in the movie Forgetting Sarah Marshal (Do Less) and by this famed interaction between Warren Buffett & Bill Gates:
Buffett and Gates had met early on and were sitting at a table, when they were both asked to write down on a piece of paper the one thing that they each felt attributed most to their success.
Surely enough, Buffett and Gates had written the same word down on their respective papers: focus.
The #1 ROI digital marketing strategy you should be using in your business this year is focus.
‘Focus’ may not sound as sexy as starting a snapchat channel or a vlog but chances are it will be a lot more profitable.
- What are the highest ROI digital marketing strategies you are already using?
- Are you maximising these to their full potential?
- How could you re-allocate resources to do more of what’s most profitable?
A leading PPC, Social Media and SEO company in Brisbane, Bambrick Media has helped over 500 businesses with their digital marketing strategies. If you recognise that your digital marketing strategy needs improvement, get in touch with us here or by calling (07) 3216 1151.