Over the years I have tested countless methods of increasing online Return On Marketing Investment (ROMI). Here is the first of a series that have proved to be the most effective.
Secret 1.0 – Don’t do the hokey pokey
Most marketers have ‘campaign periods’and this has translated into how they manage their online advertising strategy.
I call this the ‘Hokey Pokey’online advertising approach:
The problem with this approach from a Return on Marketing Investment is three-fold:
- While your campaign is out of market you lose potential customers and revenue.
- You miss out on the cost benefits of negotiating longer term deals with publishers.
- You miss out on the effectiveness benefits of ongoing campaign optimisation.
Instead of going into market for 2 months, pulling out for 2 months, then going back in for 2 months, you will achieve a much greater ROMI by taking the same spend and spreading it out over 6 months.
Over this time you can optimise the campaign towards the creative executions and media placements that are the most effective, whatever your metric may be – Click Through Rate, Cost Per Click, Cost Per Application etc. Doing so will increase both your effectiveness and your efficiency.
In my experience, using an ‘Always On’ approach has delivered up to 3 times better Return on Marketing Investment than the ‘Hokey Pokey’ method.
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