The old adage “if it isn’t broke, don’t fix it” is still something businesses use when referring to procedures within their daily operations. It’s only natural to feel compelled to trim your marketing budget. But, what if a little investment in marketing attribution could lead to a long term improvement in your ROI?
According to Episerver, 92 percent of consumers will visit a brand’s website for the first time for reasons other than making a purchase. This small factor is a huge aspect that will improve how your organization views its marketing measurement.
Have you considered optimizing a marketing budget or attribution marketing recently? Here are the tips you need to need to optimize your marketing spending and improve your marketing attribution.
Optimize Spending with these Precise Marketing Attribution Steps
- Focus on What Your Analytics Are Telling You
Your platforms are outputting marketing analytics. Are you analyzing the length of time consumers spend engaging with various aspects of your sales funnel? This is an invaluable quantifier when deciding which area of your sales funnel is most effective.
- A/B Testing Will Always Be Invaluable
I know I’m talking marketer here, but bear with me. Choosing two similar, but still brand specific, versions of a marketing effort, whether that is ad or email copy, is a fantastic way to ensure that your strategy is evolving and excelling. It’s also one of the best ways to narrow your marketing spending down to a campaign that is the most effective.
- Use CRM Automation to Your Advantage with Sales and Emails
Are you using CRM software? Of course, you are. But are you using it to its full ability? That’s the real question. If you’ve got the contact information of your consumers, both potential and previous, you need to be running an email campaign to get them to actually purchase or repurchase with a code that is “just for the most loyal” of your customers.
- Don’t Ignore the Value of Incentivizing Consumers to Provide Personal Information
You’ve got the goods. Now you need to convince people to buy them. The best way to get people into your sales funnel is to incentivize them. This means offering discounts or time-sensitive promo codes that go directly into their inbox. The catch? You now have one more consumer to add to your email campaigns. Hubspot says 59 percent of consumers say email influences their purchase decisions.
- Stay up to Date
Being in the know is incredibly critical to running an organization. This means keeping tabs on your competition with competitor analysis, tracking industry trends, and keeping tabs on consumers wants and needs. Keeping yourself a part of the conversation ensures that you stay relevant within your industry. You also strengthen your marketing funnel, ensuring it is up-to-date and capturing as much of your audience as possible.
- Account for Breakage In Your Funnel to Reduce It
Breakage within your sales funnel is inevitable. Or is it? Staying up-to-date on consumers wants and needs helps define why consumers may be uninterested as they move through your sales funnel. Identify where within your sales funnel the breakage is taking place and brainstorm ways to combat the issue. Does the breakage occur when they see the price of items in the cart? Offer a promo code to be used in the next ten minutes.
- Always Personalize Your Marketing Attribution
The biggest, yet most often overlooked aspect, of the marketing funnel, is a lack of marketing attribution personalization to an organization. Like a fingerprint, your funnel should be specific to your goals and the audience you are serving. Your USP (unique selling point) is what is motivating customers to engage with your sales funnel. It’s essential to calibrate your spending to focus on those unique aspects within your sales funnel.
Bottom line: Target your spending!
It’s easy to overlook the ways you can improve the organization of your sales funnel, especially when business is going well. But, there will always be a way to use marketing analytics to adjust your marketing attribution to improve your sales funnel. Take these tips and improve your sales funnel, one step at a time.