While entering into Digital Marketing, companies have lot of expectations from it. They expect it to boost their customer base at a much faster speed and revenue to be jumped. They are not wrong, this is how the positioning if digital marketing has been done so far. One most important part of Digital Marketing is its transparency which when put to use correctly can fetch amazing results however, is of no use if not handled properly.
Companies basically startups who start to promote using online marketing tend to face lots of hassles which tend to break down their morale altogether and left them wondering how come their competitors are making fortunes with it. Below are some of the mistakes made by organizations while using digital marketing:
- Not planning out their objectives: This is one of the major problems faced by startups however larger organizations have better resources that plan out their business objectives before entering into the cave. First of all, we need to plan what we need from it; answer is clear i.e. more business but how is the question. Planning includes amount of business/revenue from initiatives in a specified amount of time and setting up small milestones for the same. Keeping a track of these milestones will help organizations reach their destination faster and will also give them idea if it is not working. So, instead of burning your money, you can invest it on a better channel.
- Spending on SEM without benchmarks: As stated in last point, setting up targets is very important. Once you are monitoring it in terms of revenue, another parameter to be looked onto would be your CPA. How much you are spending on getting every customer on board. It has happened several times in which companies tend to get increased business from their SEM campaigns while their CPA is coming out to be higher than their margins. Monitoring CPA at every level and milestones will help you keeping your margins and profit increasing along with increase in business.
- Going Social with Flow: By getting your business on social doesn’t mean that you’ll start getting business out of it. Social media can be used for brand promotion and positioning instead of revenue generation. Even using social media without any thought in mind can be dangerous. Suppose you say something on social, it will position your brand accordingly; there have been examples in the past when well established brands have been trolled over social media. You need to make a strategy before getting social and stick to your plan. It may happen that you won’t see immediate results but never forget that “Persistence pays”. Be regular and revert on every single comment/complaint on these platforms. Idea is very simple, either don’t open doors but if you do then be courteous on all of them.
- Hiring Agency: Hiring a Digital Marketing Agency is not bad but without its knowledge and understanding, it can be dangerous. An agency is an expert in digital marketing but not of your business, they may be masters of their domain but not owners of your business. Until you have set plan and target in your mind, no one can help you. So, before hiring any agency be clear in your mind and on paper of what do you want and at what cost. When you set a CPA target when giving the account to an agency, always remember to include their cost in that. As their fee is also the cost you are spending to get customer on board. So, before hiring an agency makes sure you have knowledge of the domain or a resource who knows about it along with the set targets.