Learn How to Stretch Your Marketing Dollar with This 5-Minute Read

If you have ever used a claw machine, you will know that simply feeding the machine with a coin or two is not going to get you a prize. And most of the time, you leave without winning.

People spend money at the claw machine only to experience the rush, and they leave smiling even if they don't win. But that's not how you would feel if you were losing dollars in marketing. Besides the rush, you want effective ROI to recoup customer acquisition spends and keep your business up and running.

Let's begin with the fact that your marketing dollar cannot go far without your intelligence and planning. While there may be tried and tested ways of doing it correctly, the marketing scenario changes by the day, which puts you at the threshold of a beginning where old measures cannot guarantee new success.

Maybe it's about time to give your marketing spends a new direction – toward a meaningful ROI. And how to do that is what you are going to learn in the next few minutes.

Be Completely Sold on Your Product or Service

If you are trying to push a product or service you don't believe in, you are doing just the opposite of stretching your marketing dollar. You might get a couple of conversions by showing your ads to a thousand prospects, but it can only take you so far if you are selling a product/service with a low perceived value.

Spend more time perfecting your offerings up until you are completely sold on them so that you require less money to drive it to your prospects.

Never Stop Being Creative

It's common for businesses to run paid ads and hoping the merchant will take care of everything else. Always remember that the platform you are running your ads on is only responsible for showing those ads to the set demographics. Whether or not the visitors will convert into paying customers depends on how well you can engage with them through content.

Again, spend the time to write a compelling copy and conclude it with a clear call-to-action.

Invest in Analytic Tools to Eliminate the Guesswork

An analytic tool thinks and performs better than the human brain. It goes behind the scenes to rummage through algorithms and thus presents various insights which can be used to build new strategies and improve the existing ones.

Once you set your marketing campaigns in motion on any given platform, marketing analytics will keep a performance track to give you numbers and stats as opposed to what a human would tell you: “it's good” or “it's bad” or “I don't know what's going on”.

Digital analytics is so easy to use that marketers can catch on in minutes. These tools deliver accurate insights at a lightning speed; thereby, freeing up your time and resources for tasks that require a human touch.

To Sum It Up...

Your paid campaigns really shine when you start off with a solid strategy and the right set of tools up your sleeves. Plus, keep testing your ongoing campaigns to make sure every dollar is working to its maximum potential, in the right direction.