Maximizing ROI with High-Impact Marketing Channels: Key Takeaways
The pandemic’s economic impact is making competition for marketing space and dollars fiercer than ever before. In this article, we’ll take a look at some innovative, cost-effective ways that can make your brand stand out and maximize ROI.
I moderated a webinar recently with Sreekant Lanka, SVP of Digital Solutions at iQuanti. Lanka showed how to refresh your search strategies and connect with your target audience through high-impact marketing channels. Here are the key takeaways:
Aligning Your Media with Your Audience
It’s essential to align your media with where your audience is. Your content should cater to your potential visitor’s intent during each funnel stage. Start by building context at the top of the funnel, and then be more specific at the bottom.
Strategies for Each Funnel Stage
Top of Funnel Strategies:
Lead your top-funnel activations with videos to drive awareness and recall. KPIs include aided and unaided recall lift and top-of-mind awareness.
Middle of Funnel Strategies:
Nurture your mid-funnel with a mix of videos and statics by driving traffic consistently. KPIs include engagement rates, retention rates, quality visits to the website/app, branded search volumes, and CTR.
Bottom of Funnel Strategies:
Close the bottom funnel with search, retargeting, and other high-quality signal-based audiences. KPIs include CPA, ROAS, and LTV/CAC.
Different KPIs per funnel stage, overall CAC to help assess the overall health across marketing channels, and attribution challenges and privacy pave the way for increased adoption of incrementality testing.
The Evolving search Landscape
To grow your brand, it’s important to consider what is evolving and which channels are emerging. Note that users now search for different things than they used to. There have been shifts from keywords to conversations, expanding into multiple sessions, emerging as “Near me,” “best of,” etc., moving beyond the lower funnel.
Changes in Bidding Strategies
Bidding strategies are also changing because the Google ecosystem is building abilities beyond keywords. Check out this on-demand webinar to see how bidding is evolving.
Changes in Search Verticals
Marketplaces and social media sites dominate product searches, and site optimizations will likely be key as tools evolve to include more relevant and up-to-date information. In this regard, the exact impact of AI on SERPs is still unclear, but we see the potential in keyword targeting, search volume, and implementation.
Shifting Your Strategy Around Newly Evolving Segments and Needs
Search, as a product, has been changing, especially with Gen Z on its way to becoming the most dominant customer segment. You should look at how verticals are evolving with the shift since the segment has the lowest attention span. With social media significantly influencing consumer journeys, there is a behavioral shift, and new platforms and short-form content are taking center stage to cater to the evolving customer base. Pivot to focus on social video, short-form video, CTV, and TikTok.
Media Channels Influencing Consumer Journey
Retail Media Networks are potentially the third big wave in digital advertising after Search and Social. The push side of things shows media diversification, and CPG shows social channel growth. Diversify away from more expensive, highly competitive channels by figuring out where the right users are and how to spend.
By following these strategies, your brand can stand out in today’s crowded marketing environment. To learn more about these strategies, access the complete presentation of the webinar here.
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