Do you want a proven marketing team to create a 7 Figure strategy for your eCommerce business?
More often than not, medium to large businesses that are in need of a marketing boost tend to throw money at their problem.
By this, we mean that it may seem like a good idea to just dump a bunch of funds into Facebook ads, Twitter ads, SEO, etc. And because larger businesses have more funding behind them, it’s just a little too easy to waste that money of marketing efforts that may not even be worth it.
The key to building an ad campaign that will improve a larger business’s marketing efforts is to actually look at what is working in your business already.
Let’s dive into this idea a little bit more.
How Larger Brands Can Improve Their Ad Campaigns
There are many different ways an established business can kick their marketing up a notch. However, if you’re making around seven figures a year and don’t know where to start when it comes to taking it a step further, this guide has a lot of useful tips.
1. Perform a marketing audit
A marketing audit is an in-depth review of a business’s marketing plan, strategies, goals, and relevant activities. The goal with a marketing audit is to see what is working well and what isn’t working so well so that you can build a detailed game plan for moving forward with your new marketing ideas.
As we mentioned before, bigger businesses like to throw money at their marketing. If one’s business is already established and the marketing has been “working,” what’s the point of diving into a marketing audit?
Well, a lot of it comes down to picking apart the aspects of your marketing that are working. No matter how great and successful your business may be, there are always shortcomings to be found in marketing. It could even come down to something as small and vague as the customer support channels you’re utilizing as a form of marketing.
Truthfully, your competitors are performing marketing audits, and marketing trends are constantly changing and evolving. Unless you want to be left in the dust, PERFORM AN AUDIT
Two things will come from this audit:
- You’ll see what aspects of your marketing are working (Facebook ads, SEM, etc.) so you can focus on scaling those aspects.
- You’ll see what aspects of your marketing are NOT working so you can improve them or eliminate them from future marketing budgets.
In a lot of cases, especially when it comes to businesses that grew to seven figures before the digital marketing boom, a common problem found in marketing audits involves a lack of investment in paid social media ads.
2. Serving customers with Facebook ads
With several billion active daily users, it’s no surprise that Facebook is a hotspot for advertising. Unfortunately, a significant majority of medium-sized or larger businesses fail when it comes to investing in the Facebook paid advertising platform.
This probably comes down to the whole “throwing money at the problem” trend that we’ve recognized in brands with ample marketing funds. Facebook ads are a little more complex than simply purchasing ad space — and your business could be missing out on the conversion possibilities that the platform can offer.
Most B2C marketers are using social media posts for content marketing, and most of those marketers are using Facebook to market that content. The best way to get a positive return on your investment in social media advertising is to produce content, rather than pushing generic ads that just lead to landing and sales pages.
Today’s mobile centric consumer ingests more content than ever before and they aren’t interested in being bombarded with ads. What they are interested in is engaging, relevant content that can provide a solution. Within that content lies the marketing advantage — so take advantage of it!
3. Remember that change is good — but don’t change what isn’t broken
For this tip, we’re going to use SEM as our top theoretical marketing tactic.
It goes without saying that if your SEM is killing it in the conversion department, you certainly shouldn’t pull focus away from that aspect of your marketing that is working. Rather, you should focus on how you can scale your SEM along with the rest of your marketing endeavors.
Still, it may not even be worth changing your SEM strategy at all. Scaling is an important part of running a steadily growing business — but if there are opportunities to take small risks in your marketing, it may be worth doing it.
Maybe you could maintain your SEM budget where it is while also investing a little bit more into Facebook ads to provide a solid retargeting strategy that creates a multi-channel experience tailored to the consumer. After a quarter, review just how well your Facebook ads are doing and if the ROI is paying off.