Cutting Your Digital Marketing Spend: When it Works and When it Doesn’t

At times, it may feel like the key to digital marketing success is all about spending more. It’s not uncommon for businesses to invest a significant sum of money in online campaigns, hoping to secure an edge over their competitors. However, what if we told you that you don’t always have to spend big on digital marketing? Cutting your digital marketing spend can be a strategic move if it’s done right. In this article, we’ll explore when cutting back on online spending works and when it doesn’t. We’ll provide insights on how to assess your digital marketing strategy, identify underperforming channels, optimise your spend, and leverage data and analytics to make informed decisions. Let’s take a closer look at digital marketing spend together.

Assessing Your Digital Marketing Strategy

As a digital marketer, you need to assess your current digital marketing strategy to make informed decisions about where to allocate your budget effectively. A comprehensive assessment should comprise key factors such as:

• Identifying your goals and objectives
• Understanding your target audience and creating accurate user personas and a customer journey map
• Evaluating the effectiveness of your campaigns

Identifying your goals is essential to ensure your marketing budget is aligned with your business objectives. You can then create strategies that are effective in reaching your target audience, keeping in mind their demographics, interests, and behaviours.

Evaluating the effectiveness of your campaigns involves measuring your key performance indicators (KPIs) such as conversion rates, click-through rates, and traffic sources. By doing so, you can figure out which campaigns are performing well, and identify areas where you may want to increase or decrease your spend.

This analysis should also extend into your buyer journey—tracking how your audience interacts with each touchpoint and identifying any potential roadblocks to conversion. By understanding this, you can optimise underperforming channels, improve user engagement, and increase conversions.

Identifying Underperforming Channels

Having a digital marketing strategy is one thing, but optimising it requires analysing the performance of each channel. By identifying underperforming channels, you can reallocate your budget to other avenues that deliver better results.

Start by evaluating the traffic each channel is generating. The ones that are driving less traffic than others may be underperforming. Next, analyse the conversion rate of each channel. If one has a lower conversion rate than others, it may be time to reassess its effectiveness. 

Additionally, consider the cost of each channel to determine if it’s worth the investment.

It’s essential to measure the ROI of each channel, too. By tracking the return on investment, you can determine which channels are delivering higher returns than others. Analysing your data and metrics thoroughly enables you to make informed decisions about where to allocate your budget effectively.

Optimising Your Digital Marketing Spend

To make the most of your digital marketing spend, it’s essential to optimise your strategy. At VIS, we recommend employing a range of tactics that cater for targeting specific audience segments, creating compelling content, utilising social media platforms effectively, and implementing search engine optimisation (SEO) strategies.

By targeting specific audience segments, you not only reach the right people but also minimise your advertising expenses, ensuring you maximise your return on investment (ROI). Creating compelling content also boosts engagement, resulting in increased conversions and revenue.

Utilising social media platforms effectively is a valuable strategy in optimising your digital marketing spend. By focusing on the most relevant platforms for your business and audience, you can amplify the impact of your campaigns, foster relationships with customers, and promote brand awareness.

Finally, implementing SEO strategies can attract high-quality organic traffic to your website, reducing your reliance on costly paid advertising. By optimising your website content for relevant search terms and implementing best practices such as metadata optimisation, internal linking, reducing page load times, and mapping out carefully the user’s path towards conversion, you can ensure your site ranks among top search results, driving targeted traffic and improving your ROI.

Working with our expert team at VIS Network, we take an analytical approach to your digital marketing strategy, providing comprehensive guidance on optimisation tactics, tailored specifically for your business and audience, to ensure you reap the maximum benefits from your digital marketing spend. Contact us today at 1300 777 847 to learn more about how we can help you.

Leveraging Data and Analytics

At VIS Network, we understand the importance of data and analytics in making informed decisions about your digital marketing spend. By tracking the performance of your campaigns, measuring audience engagement, and determining the ROI of your marketing efforts, you can identify what strategies are working and what needs refinement.

There are several tools and metrics you should be using to analyse your data, including website analytics software, social media analytics, and CRM systems. These tools help you understand how your audience interacts with your digital channels, track your website traffic, and measure the success of your campaigns.

By analysing this data, you can refine your strategy and ensure your spending is yielding the desired outcomes. Our team can help you make the most of your data and analytics insights, guiding you towards smarter decisions and more effective digital marketing spend.

The Experts in Digital Marketing – VIS Network

At VIS, we understand the importance of optimising your digital marketing spend to achieve better results. By assessing your current strategy, identifying underperforming channels, and optimising your spending, you can make the most of your budget and resources. We also stress the significance of leveraging data and analytics to make informed decisions that yield desired outcomes.
Contact our team today at 1300 777 847 to learn more about how we can help you optimise your digital marketing spend and drive growth for your business.