Every marketer face the same question month after month, quarter after quarter: How to maximize our marketing dollars? Often, in search for an answer to that question, marketers turn to digital advertising. Digital advertising offers flexibility and scale at the same time, all of it wrapped in a pretty bow of opportunities for constant optimization. But exactly how to optimize? That’s a harder question to answer. Recently, FunnelEnvy pulled together some data that may offer some insights.
The first step toward any marketing success is to clearly define your primary marketing objective. Is your objective to raise awareness or is it to drive conversion? Awareness drives potential consumers to you, which conversion turns potential consumers to actual consumers who buy from you. In a state of limited resources, defining your primary marketing objective would provide some guidance toward where to focus your marketing investments. According to FunnelEnvy, there are tactics that are clearly more effective in driving awareness – such as email marketing. However, to drive conversion, a multitude of factors need to work holistically. Because conversion rests on the fact that once consumers arrive at your site, you don’t lose them because they have a bad experience. And a consumer’s perception of your brand can be altered by one weak link.
So, if one were to prioritize resources, one should focus on conversion first. Because all the resources invested in driving awareness may be all lost due to one weak link in conversion.
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Source: How to Generate Value from Digital Marketing