What’s the biggest mistake you can make when planning a marketing strategy? Overspending. 

The whole goal of marketing is to promote your business and drive attention to its products/services. Ideally, this will result in sales - but even raising brand awareness is a good enough benefit. This results in a balancing act between spending enough money to yield results without going too far and netting a loss. Spending too much money on your marketing strategy will make it impossible to keep your business afloat. 

How do you avoid overspending or stretching your marketing budget too thin? It’s simple: pick the best marketing tactics with the greatest return on investment (ROI). Unsurprisingly, these tactics all revolve around digital marketing - and here are the top four ones for you to target: 

Email marketing is the most “traditional” of all digital marketing strategies. People and companies have used it for years to try and promote their products/services to a target market. That’s actually one of the biggest benefits of email marketing: you can curate a mailing list full of your target audience, meaning everyone who receives an email will be interested in what you offer. 

This goes some way to explaining the incredible ROI from this strategy. Different companies and sources quote different figures, but the average ROI from email marketing is around $36 for every $1 spent. 

That’s an astonishing return - and you’ll struggle to find a more effective marketing channel in terms of what you gain from what you spend. The hardest part of email marketing is generating a mailing list, so be sure you come up with good incentives to encourage users to provide their email addresses. 

Pay-per-click advertising is a paid way of gaining more traction in search engines. Run a quick Google search (make sure your ad blocker is turned off) and look at the results. You will see a few results at the top of the page with “Sponsored” above them. These pages have been promoted using PPC ads. The owners have bid on specific keywords and search phrases to ensure their site is shown in the sponsored results, allowing for better brand awareness as one of the first listings a user sees when the search loads up. 

It’s a complex process and requires the help of a seasoned PPC firm to ensure you’re bidding on the right things. This method gets its name from how it works: you only pay for the advert when someone clicks on it. The right PPC strategy will combine ads with great landing pages to help you gain something out of every click, offsetting the costs. 

We’re focusing on Google Ads, as it’s the biggest PPC platform around - and the most profitable. Conservative estimates by Google themselves suggest businesses earn an average of $8 for every $1 spent on Google PPC Ads. Again, that’s a very impressive rate and proves that you’ll make money from the right PPC strategy rather than overspending. 

If you look at the rising digital marketing trends, influencer marketing will be right at the top. Brands look to influential people to promote their products and tap into a target audience. It’s a remarkably clever approach, especially as consumers have a lot of faith in what their favorite influencers recommend. 

Pay someone with a loyal audience to talk about your brand, and there’s a big chance you’ll see lots of new leads and sales. There’s data to back this up as well! The average ROI for influencer marketing across all industries is $5.78 for every $1 spent. However, if you look at the businesses at the very top of the influencer marketing game, they’re generating close to $20 for every $1 spent! 

The key is working with the right influencers - if you find the ideal partners, they’ll raise your ROI even further.

Search engine optimization also delivers an optimistic ROI for most businesses. Calculating the average is harder than most, as it’s difficult to quantify what many businesses spend on SEO. Nevertheless, reports suggest that you can get around $22 for every $1 spent on SEO services. 

As you should be aware, SEO revolves around organic search engine results. It helps you drive traffic through Google searches and other search engines. Every business should develop a strong SEO strategy if they want their website to get clicks. 

Good SEO practices are two-fold. As well as the keywords themselves, it’s also important to have a good website so that, when people get a search result and click on your website to read the content, they actually want to stick around. Great website design pioneered by experts like Cullen Fischel makes your business seem much more professional and well-put together. This way, you get the most out of your SEO efforts, especially if you combine SEO with content marketing.

The benefit of SEO is that there’s an upfront investment, but you don’t always need to continue investing money. Maintaining SEO is often possible for free as long as you know all the tricks of the trade. It’s worth looking at how you could implement these efforts in your business, perhaps by outsourcing it to a business like https://armoryseo.com/ for example.

In conclusion, these four marketing strategies provide the best return on investment for your business. They’ll help you avoid overspending to get the results you’re looking for in a killer marketing campaign.