4 Ways You’re Unknowingly Wasting Thousands of Advertising Dollars
You may not realize it, but right now, you could be wasting thousands of dollars in ad spend by not doing four little things. They may seem trivial and may be sitting there in the back of your mind as tasks that “I really should be doing, but haven’t.” The sooner you implement these strategies, the sooner you’ll not only save money, but improve your advertising reach and conversion rate!
Not Tracking Ad Performance
How are your ads doing right this moment? “Well, I…erm, I think they’re doing well.” How do you know? The solution is an easy one to implement and should be done as part of any ad campaign. It involves installing a pixel “tracker” that monitors who’s clicking and interacting with your site or ad campaign and how they’re interacting with it.
This one pixel has a lot of power under the hood. You can use the data it collects for your email campaigns, landing pages, conversion optimization and much more. Not using a pixel to track your ad performance means you’re essentially in the dark with how your ads are performing, and figuring out what works is more like guess work, rather than being rooted in data.
**Don’t forget to add UTMs (Urchin Tracking Module) to the end of the links you send back to your website. For example, adding UTMs to the end of the links in your newsletters to drive people to schedule a demo will look like this:
Original Link to Schedule a Demo
Link with UTM Parameters
When you go into Google Analytics, you’ll see metrics populate if a user was driven to the site off of those links, specifically.
Source is decembernewsletter ; Medium is email. The result? Analytics shows Source / Medium is decembernewsletter / email .
*Data and brand names were removed to ensure privacy to the website used as a demonstration.
Not Enabling Reporting (And Looking at the Results)
Reporting is another area where businesses always “mean to set that up,” but sometimes don’t (or don’t do it right). Google Analytics is free and easy to implement, as are plenty of other analytics packages, but even just collecting the data is pretty much meaningless if you don’t act on it.
Look at the results, track the behavior, see what’s happening with your conversion funnel. Are you reaching the goals you’ve set? Have you set goals? If not, you could be simply stumbling around without any real aim or information about how your ads, site and offers are performing.
Not Bringing Users Back to Your Site
This is a chronic issue that leaves a lot of money on the table! Let’s say you just got a sale or an opt-in to your newsletter, or whatever counts as a conversion for you; once that’s done — then what?
Oftentimes, although the opportunity exists to redirect users back to your site, many people don’t take advantage of it. Although they’ve just taken the action you wanted them to take, they may be open to taking another, similar action — such as subscribing to a “getting started” course, or buying an accessory to complement their purchase. Although this is ideally better suited as an upsell that’s presented before they finalize their order, not bringing your user back to your site afterward is essentially like saying “thanks for your money, now go do whatever!”.
In the same vein, not remarketing to those users can also leave a considerable amount of profits in the dust. With the right tracking pixels installed, you can figure out the behavior behind why they abandoned their cart, where they went and what — precisely — they’re looking for. You can then modify your ad campaigns, your landing pages and other assets to help engage them and bring them back. Ask us how!
Using Social Media to Build a Following
In the early days of Facebook and social media, there was a big push to use it to “build a following”. However, these days, with so many companies and brands participating, it’s possible that your prospects won’t ever even see your stories or questions in their news feeds. Ad prices are still relatively affordable though, and they do provide you with an opportunity to get in front of your target audience.
By all means, don’t discount building that following on social media. Just realize that it’s not going to happen overnight, and like all good things, it takes time.
As you can see, failing to be vigilant over your spending, collecting and leveraging of data to see the behavior that your users and prospects are taking, it’s easy to forget that money is slipping right through your fingers. But, by taking steps to install pixels, reading and taking action on reports, and using the information collected to consistently improve your business and advertising ROI, you’ll be in a place to make great strides in all of your marketing initiatives.
Do you need help managing your marketing, building your following or getting the most out of your ad spend? Workdom is here to help. Contact us today, and let’s talk more about growing your business!
Originally published at https://www.workdom.io on January 17, 2020.