Digital marketing is not just a profitable but an essential aspect of any business’ marketing in current times. Digital marketing allows your business to reach a wider audience, target more effectively, and use your budget more efficiently, increasing your return on investment. But often the ins and outs of digital marketing can feel overwhelming, with all its terms and processes.
Here are the basic platforms and important terms of digital marketing, so you can start to understand it better and leverage it for your business’ growth.
Google Adwords is a digital marketing platform that shows ads to search engine users, either on a search engine results page or on a website they’re browsing. You can pay to be in the ads at the top of Google search results for search terms (keywords) that your customers are using — this way, they see you first, click through to your website, and hopefully, make a purchase.
Google Adwords works like an auction. You create an ad for a specific keyword and then bid on that keyword, hoping to have a good enough keyword and a high enough bid that Google chooses you. There are usually several ads at the top of Google’s results, so you have a few chances.
Your campaign manager will know not just how to create a high quality ad, but also how much to bid and when. These two factors together determine whether your ad makes it in. Google Adwords can be very profitable because:
- you can see results on a small ad spend budget;
- users are already looking for the products you’re offering;
- and most importantly, you can track your ROI closely and make adjustments to maximize it.
Facebook Ads is a digital marketing platform that runs ads exclusively on Facebook. They are known for their very specific targeting, which allows you to reach the perfect audience for your business or product. They also have dynamic video and photo ads that can capture your audience’s attention. You can choose from many different types of ads depending on your needs.
Pay-per-click, abbreviated PPC, refers to any kind of digital ad where you pay the platform every time someone clicks on your ad. Though normally associated with Google Adwords, it’s just a type of ad, not a platform; some Facebook ads are technically also PPC ads.
Cost-per-click, which you’ll often see abbreviated to CPC, is the price you’ll be charged by Google or another platform for each click you get on your ad. CPC varies depending on the industry you’re in, the type of ad you’re running, the amount of competition your chosen keyword has, and more.
Calculating what your CPC might be can help you create a budget: you should find the average CPC for your keyword on tools like Keyword Planner, then multiply that by the amount of clicks per month you are aiming for. This will be your monthly budget. Your PPC campaign manager can help you understand what a reasonable budget might be for you.
Cost-per-lead or CPL is your budget divided by how many leads you actually get from the campaign. Not every click will turn into a lead, because a user may reach your page through your ad but then simply click away. CPL is where a focus on ROI is crucial. If you only look at CPC, and not CPL, you may think you’re getting more business than you actually are. Focusing on real leads, not just clicks, will help you see how your investment is being used and what the results are.
Cost Per Acquisition (CPA)
Cost per acquisition, or CPA, goes one step further, and is also very important for ROI. Cost per acquisition is how much it cost you to get a paying customer. Of all the leads you get, only some will actually buy from you. Again, understanding your CPA will help you see how your marketing budget is being used and what the results are.
Once you know your CPA, you can calculate how much you made from each acquisition (how much did they buy minus the cost of acquiring them).
Click-through-rate, or CTR, describes the percentage of users who are actually clicking on your ad when they see it. Platforms can tell you what your reach or impressions are (i.e. how many people saw your ad), and when you compare this number to how many actually clicked on it, you get your CTR.
CTR is important because if your impressions are high and your clicks are low, you can adjust your ad to make it more enticing to users. Often, changing ad copy, images, or call to actions (see below) can boost your CTR. Your campaign manager can work with you to suggest changes and test them.
A quality score is a score given to your ad specifically on Google Adwords. It’s calculated using:
- Your click-through rate (CTR)
- Your landing page: is it a good quality page, and is it relevant to your ad?
- Your keyword’s relevance to its ad group
- Your ad copy: is it relevant to the keyword?
- Your Google Ads account performance: how have your ads done in the past?
The public doesn’t know exactly how Google’s algorithm calculates the score, but this score is then multiplied by your bid amount and that determines where your ad ranks. Basically, if you have a good ad and a good landing page, you will rank higher — it’s not just about the bid.
Geo targeting, also called local PPC, is showing an ad to somebody based on their location. Geo targeting is not only important but also extremely effective, as many users are searching for services and businesses near them, and you can capitalize on those searches. You should not only include the areas you service, but also exclude the ones you don’t, so you don’t waste ad spend or time on those locations.
A lookalike audience is a type of target audience you create on Facebook Ads by pulling info from your current customers and followers. Using information from your site and your Facebook page, Facebook analyzes the “profile” of your ideal customer and creates an audience that looks just like it. This way, you can find new customers that are likely to buy from you.
Remarketing, on the other hand, is all about bringing back people who have interacted with you, but never purchased from you. Whether they like your Facebook page, visited your website and never bought anything, or they clicked on an ad and then clicked away, you can create a remarketing ad to show them your ads and hopefully draw them back in.
Pixels are snippets of code that you put on your website and in your ads; these allow you to track users’ behavior on your site and use this information to improve your marketing. You’ll be able to see information from your pixel on your ad platform.
Two common types of pixels are retargeting pixels, used for remarketing purposes, and conversion pixels, which track the sales you’re getting from your ad campaigns. Conversion pixels are especially important, since they will speak to your ROI and your campaign’s success.
Hyvemark Helps You Go Digital
Hyvemark’s digital marketing experts can guide you as we create PPC campaigns, Facebook campaigns, and more. We’ll design successful campaigns that focus on ROI, keeping you in the loop every step of the way.
COVID-19 impacted businesses in almost every industry and of every size this year, leading to budget cuts, layoffs, and more. One study found that most businesses only had enough savings to last for 2 months, and the pandemic was predicted to last longer. Many small businesses that were not prepared for a crisis had to close — others remain afloat, but are struggling — only 47% of businesses expected to be open in December.
When making cuts to your budget, marketing is often the first thing to go. But eliminating your entire marketing budget may not be the answer. However, if your business is among those struggling, or if you’re hoping to make a comeback, marketing can actually help you recover — specifically, digital marketing.
Advertising in a crisis or recession is always a good investment.
This Forbes article became quite popular this year; written in 2019, it predicted a recession in the near future and discussed how advertising during recessions has actually proven to be a good investment, instead of a waste.
There are a few reasons why marketing during an economic downturn is smart:
Firstly, many businesses will stop marketing as much or altogether, either because they don’t think it’s a smart move or because they simply can’t afford to. This eliminates a lot of the competition, allowing you to increase your brand awareness in this time.
Secondly, the cost of marketing actually goes down, making it a much more affordable venture. This was true this year, where the average cost-per-click for Google Ads and Facebook Ads decreased across many industries. For example, for lawyers, who traditionally have very high CPCs, these have fallen, making their keyword less competitive.
With a change in messaging, continuing to advertise even during a recession can mean huge things for brands.
More and more customers have moved online.
One of the ways COVID-19 has affected consumer behavior is by changing the way (and the place) we buy. Customers are not visiting physical stores due to social distancing, and instead look online for products and services. In response, nearly every industry has found a way to sell online, whether through social media stores or an e-commerce website.
E-commerce, coupled with digital marketing campaigns, can increase your sales revenue, offering safe buying options to your loyal customers as well as attracting new ones who didn’t know your brand before. Online shopping also opens up your customer base geographically: selling online means you can sell to more people than those who can visit your physical store.
Experts say that new buying habits will endure, so moving your business online with a quality e-commerce site and online campaigns is a long-term investment as well as a short-term one. Meeting your customers where they are will help your sales and your brand.
Digital marketing is more trackable and measurable.
Digital marketing is your best option for advertising during and after COVID-19 because unlike traditional marketing, digital marketing is easy to measure. Even though you should be advertising your business, you do still have a budget, and you need to maximize it. Keeping track of your dollars (and your revenue) is key to recovery.
In PPC and Facebook Ads campaigns, you can set a limited budget for each month. Although you and your campaign manager should decide on a reasonable budget that will get you enough clicks to turn into leads, you don’t have to worry about overspending.
You should ideally aim to get a minimum of 150 clicks to your website every month — less probably won’t get you enough leads to justify your spending. The way to calculate your budget for pay-per-click campaigns is to multiply the average cost-per-click for your target keyword in your location by 150. This will be your minimum budget.
The goal is to get leads (and sales) from your campaigns. Focusing on return on investment ensures that your marketing gives you real results and is not a waste. Digital marketing easily allows you to track how many leads you’re getting, and which ones are turning into sales. E-commerce makes it especially easy to see the ROI on your sales.
In such uncertain times, tracking and measuring is vital to your business’ recovery and survival, so digital marketing is your safest but also most profitable option.
In creating your brand, there are many aspects that go into the brand itself, including a business name, a logo, fonts, voice, and color. Color is a powerful tool to not only target and influence your audience, but to set yourself apart from competitors.
Color Is Underrated
Color is often overlooked in the creation of a brand, and consequently chosen without much thought. But color can affect how we think, feel, and act, so it should be considered carefully. There are accepted views on colors and which industries they’re used for: blue for healthcare, black for luxury brands, green or orange for food. However, understanding why these views exist is key.
Our Perceptions of Colors
The way we perceive colors is both intuitive and learned. Studies show that some perceptions of color are ingrained in our brains: red activates our amygdala and raises our blood pressure, as a response to both danger and excitement, while blue light keeps us awake because it suppresses the production of melatonin.
However, learned perceptions of color also exist, and these vary more among people, since they tend to be historical and cultural. For a long time, the only colors that existed were natural, so unnatural hues were associated with the wealthy (see: royal blue, white wedding dresses).
Color is also cultural. Not only does the language you speak affect how you see color, but cultures use and see colors in different ways — for example, some Eastern cultures wear white to funerals instead of black.
Choosing Colors: What To Consider For a Brand
Your Target Audience
It’s incredibly important to understand both instinctual perceptions of color and the historical and cultural context when choosing a color for your brand. If your customers are in China, the United States, or Brazil, they will have different perceptions of a color due to these contexts.
Age is another factor that affects perception of colors. Different generations, each with their own specific cultural context, will feel differently about colors. Trends like millennial pink and Gen Z yellow speak to this difference, so if you’re targeting a specific demographic, you should take this into account.
Different sexes also see colors differently, sometimes quite literally: women see more shades of colors than men do. Men and women also have different feelings about colors, and will prefer some colors over others.
Understanding your target audience, from their background to their age, sex, and more, is crucial to pick the right color for your brand, because it can make or break your brand’s success with them.
Color Combos and Hues
When choosing a color for your brand, you’re actually choosing several: a palette of 5-10 primary and secondary brand colors that will all be part of your brand. Understanding how colors work together, not just alone, will help you choose these combinations. Similarly, there’s more to a color combination than just “blue” and “yellow,” for example, since you’ll be choosing a specific shade of each color.
A professional is your best asset for picking colors, since they understand the nuances of each specific shade and how they work with other shades, both logistically and psychologically. They’ll know not just what colors look good together, but what they say about your brand.
What feeling do you want to give a customer? Color stir emotions and thoughts inside of us, which can lead to our behaviors. Will we love this brand or hate it? Will we feel connected to it? Feelings are incredibly important to sales — don’t overlook them.
One piece of common advice is to use red for a call to action button or a sale sign, since red inspires people to take action. However, you won’t choose red as your brand color just to stir action in people — and if you do choose it, your brand isn’t automatically aggressive and bold.
The idea is to be conscientious with your color selection, and choose colors that overall give off the mood and feeling of your brand, whether it’s elegance, excitement, peace, or something else.
What are your competitors doing? Understanding and analyzing what colors your competitors are using can help you understand your own business and your target audience, and help you decide whether you want to go in the same direction or try something different.
Color can differentiate your business from those around you. You could go with the same thing your competitor is doing, and it may work, but trying something different can set you apart and bring you more business that way. Although your colors should still make sense for your industry and audience, finding a new take can help your brand stand out.
Color is only one aspect of a brand. Ultimately, all the aspects of your brand have to work together, and though color is important, it must work with the others to create a cohesive and effective brand.
Build a Brand With Hyvemark
At Hyvemark, we have studied the psychology of color and are ready to help you pick the right colors for your brand. As we build your brand, we’ll do research and consider a wide variety of factors, then come to you with our suggestions for fonts, designs, and of course, colors.
Businesses love to think that anyone can and would use their product, and they famously say “my target audience is everyone.” However, this simply isn’t true, and honing in on the group that’s most likely to buy your product helps you sell more and sell better.
What is a Target Audience?
A target audience is a group of people at which you aim your product or service. Your business’ target audience will be determined by a variety of factors — essentially, by data — which you’ll use to create an ideal buyer.
The Factors of a Target Audience
A target audience is defined by factors such as age, gender, race, income, location, interests, lifestyle, education level, and more. But these factors alone are meaningless by themselves. Marketers need to understand the consumer behavior that’s born from these factors.
Consumer Behavior is Everything
Consumer behavior refers to how people of different groups use and buy certain products to fulfill their needs and desires. Defining a target audience means understanding those needs and desires, which vary according to demographics, which is where these factors of age, gender, and so on come in.
Before, people were more similar in their preferences, something experts call a Mass Culture. Now, our world is more diverse than ever — not only is it more obvious how different everyone is, but we have more choices and preferences than before. Understanding consumer behavior is key to finding your audience among a sea of unique buyers.
To make the most of your strategy, you should segment your audiences. This means that once you understand which consumers you’ll target based on their characteristics, you should divide them into groups with commonalities and then create an approach for each group.
Alongside data, you can segment audiences based on things like the stage of the buyer’s journey, the benefits your consumer’s looking for, how and why they use your product, the occasion, and more.
How Do You Choose A Target Audience?
Choosing a target audience requires data and research. In the US, data is being gathered constantly, about everything, giving marketers and businesses plenty to work with. However, knowing how to interpret the data and turn it into a marketing plan requires knowledge and training.
A target audience will depend largely on:
- What you’re selling
- Where you’re selling it
- How you are selling it
Your data will tell you how different people in different places respond to and choose to purchase your product, allowing for more successful marketing efforts.
Why Do Target Audiences Matter?
Target audiences are essential for understanding consumers and their behavior, specifically, how they purchase. While businesses used to believe that consumers would make rational decisions about their purchases, it’s been proven that consumers make irrational decisions based on emotions, and sensory stimuli, like colors.
This is important because each person, depending on their age, gender, race, etc, will make those irrational decisions differently. If we understand consumers, we can better understand how they come to purchase. This process allows businesses to maximize their return on investment by knowing the trajectory of a consumer’s journey to buy, and create better marketing strategies that fit that audience.
Defining an audience doesn’t limit it, but actually increases your sales and your return on investment. Instead of spreading your marketing budget too thin by trying to appeal to everyone, you’ll quickly gain the trust, attention, and dollars of those most likely to buy.
Marketing to Your Audience
The internet has created consumers that are much more informed than before. We will read reviews, watch videos, and do research before buying. We’re also influenced by packaging, colors, brand reputation, and more. Therefore, a marketing strategy requires an understanding of the factors that may influence your audience to target the right demographic and have a bigger ROI.
Once you’ve defined an audience, your marketing plan should take them into account every step of the way: what colors do they respond to positively? How will they relate to the product and your brand? Where will you target your ads? What approach will you implement in one city versus another?
Time and again in your marketing journey, you’ll find yourself going back to that audience to help define your strategy.
Facebook can be an excellent tool to market your business and gain a wider audience. If your business has ever posted on Facebook, you’ve probably seen the option to “boost” your post for a small charge. But Facebook also offers Facebook Ads through a separate Ads Manager. So, what’s the difference, and which one should you use for your business?
Let’s take a look at both options, understand what they are, and which one can bring real results and real customers to your business.
What Are Boosted Posts?
A boosted post is any post that you can pay to show up as an Ad on Facebook for your choice of audience. Your post will appear on the selected audience’s News Feed. They’re pretty simple because you can boost any existing post, and there is no need to design a brand new one.
What You Can Customize on Boosted Posts:
- Your Target Audience: In your target audience, you can choose age, gender, location, and interests. Facebook doesn’t propose ideas for interests, however, so you have to know these beforehand.
- You can choose your budget.
- Define the length of your boosted post.
There is not much you can optimize on boosted posts. Some benefits you can experience from these are page likes, shares, comments, and brand awareness. Once you have boosted a post, you’ll have the advantage of audience research, which will let you know what performs best.
What’s a Facebook Ad?
Facebook Ads, created through Facebook Ads manager, offer advanced customization— they’re especially known for their robust targeting capabilities. These can be optimized for website conversions (e.g. appointment requests or purchases), video views, app installations, shop orders, and more. They also offer analytic options, define campaign goals, and track ad engagement. oo
Facebook’s targeting options are one of their biggest draws, and are renowned in the digital marketing world. You can choose three types of audience:
- Core Audience: You have all the targeting options of a boosted post and more, including job, education, behavior, and connections.
- Custom Audience: Target your own database of people who’ve engaged with your business — even if they didn’t do it on Facebook.
- Lookalike Audiences: Target people who have similar interests and profiles to your best customers.
Benefits of Facebook Ads
Specified Ad objectives:
Facebook Ads allow you to choose more specific objectives that boosting simply can’t offer. Some of those objectives include conversions, store traffic, sales, appointments, and more, which directly impact your ROI.
When you establish these specific objectives, you can align your campaign with your business goals, so that your campaign is working with your greater marketing strategy and not just alongside it.
When you create Ads through Facebook Ads Manager, you’ll have creative control over your ads so they can fit your branding. You can add descriptions, have sliding images, include call-to-action buttons, and more. More creative freedom allows you to build a brand and remain consistent in branding while getting more sales.
Another benefit that only Facebook Ads provide you with is ad scheduling. This feature lets your ads appear in a specific timeframe and on a schedule that works best for your business and target audience. This makes sure you spend your budget more wisely, and show your ads when they’re more likely to gain you a new customer.
Facebook Ads give you the opportunity to choose where you want your Ad to appear. You can select placements in Messenger Ads, Audience Network, Facebook News Feed, Instagram stories, and more. Having these options helps you create a stronger and more strategic marketing plan that will yield better results.
Use Facebook Ads for Better ROI
If your goal is to maximize your campaign objectives, obtain better audiences, generate leads, and build a significant following, Facebook Ads will benefit you more in the short and long run. Boosted posts are only helpful building with awareness and engagement. Meanwhile, Facebook Ads allow you to do that and also capture real leads and convert them on your site, for measurable ROI.
Build Your Facebook Ads with Hyvemark
At Hyvemark, it’s our priority to help your business grow. One of our most popular services is building Facebook Ads campaigns. We create ads on social media that will make the most out of your budget through detailed targeting, conversion targeting, and campaign monitoring, to get you appointments and sales.
Contact us directly to start. We provide you with ROI-driven marketing solutions that will help you with long-term growth.
ompanies want marketing that works. But what does “work” mean? Some marketing agencies will define a marketing campaign that “works” based on an increase in your following on social media, the number of customers, likes, or pageviews. But these numbers are meaningless without revenue — more specifically, revenue that surpasses what you put in.
As a business owner, you are probably keeping track of your investment and what you’re gaining, so you can determine what is working, what isn’t, and how to invest more efficiently to make the most out of your marketing spend.
However, sometimes you may be focusing on the wrong factors. In the end, return on investment is what will tell you if your marketing is giving you what your business needs.
Here is why return on investment is much more significant than vanity metrics:
Why ROI Is More Important Than Vanity Metrics
As previously mentioned, it’s important to measure results to identify areas of improvement. Marketers often use vanity metrics such as follows, likes, favorites, views, impressions, and more — in fact, according to Hubspot, only 35% of marketers think understanding ROI is important. However, these metrics do not measure success or how your business’s performance is impacted.
How to Identify a Vanity Metric:
Vanity metrics can make you feel good about your marketing, but they’re ultimately empty data because you can’t use it to measure the impact on your revenue. Here are some ways you can tell if you’re looking at a vanity metric:
- It doesn’t help you make a business decision.
- These numbers are random.
- They’re seasonal/variable.
- You can’t tie it back to a customer’s action, i.e. a call, appointment, purchase
It’s dangerous to focus on vanity metrics that aren’t attached to a stream of revenue. A way to find out how your marketing efforts impact your business objectives is by measuring conversions.
This doesn’t mean that you shouldn’t pay attention to engagement, but they shouldn’t determine your success. Consider using your marketing budget for conversions, and your internal efforts for engagement.
A Focus On Conversions
Vanity metrics, or organic engagement, are easy to obtain, and reporting them can be of some use. However, it cannot be the only focus. Marketing spend and efforts impact profits and sales, and these should be the number one priority. One of the best ways to focus on ROI is to look at conversions.
When it comes to conversions, you can see how much you’re making from your marketing efforts. Understanding when and how a potential customer becomes a real buyer is more valuable than whether they like your page or not. You can improve or optimize that moment of conversion, allowing you to replicate the results and get more sales.
Traffic is necessary for conversions, but it doesn’t equal more conversions. The key goal is client conversions and retention, which impact the business’ bottom line and revenue. It’s better to focus on conversions and metrics that enhance conversions, such as customer lifetime value.
Create A Marketing Strategy That Will Give You ROI
At Hyvemark, we help you connect the dots between revenue and activity. We focus on getting you a return on investment and seeing actual revenue come in with our strategies.
Our integrative approach to marketing, which includes data analysis, ensures we create strategies that will benefit your business bottom line in the long-term, so your return on investment is always positive.
If you have a project in mind, let’s start talking about your goals and how we can partner with your business. For any additional questions about what we do and how we can help you obtain a positive ROI, get in touch with us now.
Choosing to do digital marketing for your business is a no-brainer — choosing the right agency to handle your digital marketing requires a little more time. Aside from being a reputable agency with proven strategies that focus on real results, there are other less obvious boxes that your choice of agency needs to tick off.
To have the best outcome with a digital marketing agency, you need:
An integrative approach.
The right agency will not just try to sell you a Facebook Ads service or convince you to spend your entire budget on pay-per-click ads, with no consideration for your marketing and business needs as a whole. An integrative approach will consider: What is the goal? Can market research help improve your digital campaigns? Can your website give the customer what they’re looking for?
This approach ensures:
- That you’re getting your money’s worth by targeting actual customers, and not just “anyone”
- That your agency is considering a comprehensive marketing strategy, beyond just digital marketing
- That you’ll see real return on investment (ROI)
- That your marketing efforts have a long-term impact on consumers