In the ever-changing world of digital marketing, businesses continually seek the most effective ways to connect with their audience and boost sales. As a small-to-medium size business owner, you know that you have to spend your dollars wisely and every cent of your marketing budget should be scrutinized for the highest possible ROI.
However, a recent survey from NP Digital across various industries revealed a startling insight: many businesses are heavily investing in the wrong digital marketing channels. The most popular channel, organic social media, is often the least effective. This article will delve into the findings, explore more effective marketing channels, and offer solutions to optimize your marketing strategy for better returns.
The Survey Results
NP Digital surveyed 118 businesses from different industries to understand their marketing priorities. What they found was troubling. A significant majority of these businesses poured their marketing resources into organic social media. While it’s true that social media platforms offer vast audiences and potential reach, the ROI from organic social media is surprisingly low.
The Ineffectiveness of Organic Social Media
Organic social media involves creating and sharing content on social media platforms without paid promotion. While this zero-cost strategy can be effective for building brand awareness and engaging with existing followers, it often falls short in driving substantial business growth or conversions. This is corroborated by HubSpot’s State of Marketing Report, which highlights that organic social media delivers one of the lowest ROIs compared to other channels.
HubSpot’s Findings: The Most Effective Marketing Channels
According to HubSpot’s State of Marketing Report, the most effective marketing channels for businesses in 2024 are:
- SEO (Search Engine Optimization): 16%
- Social Media Shopping Tools: 16%
- Paid Social: 14%
- Email Marketing: 14%
- Content Marketing: 14%
According to HubSpot’s survey, more than 80% of marketers feel that marketing has changed more in the last three years than in the previous fifty. In this ever-changing environment, the number one challenge marketing professionals identify is determining which platform (or platforms) they should invest in. Our survey found that the top B2B marketing channels today’s marketers use are short-form video (i.e., TikTok, Reels, YouTube Shorts, etc.), influencer marketing, and SEO.
Let’s break down why these channels outperform organic social media and how you can leverage them to enhance your marketing strategy.
SEO: Maximizing Visibility and Traffic
Optimizing your website for search engines can significantly enhance visibility and attract organic traffic. High-quality content, strategic keyword usage, and a user-friendly website are key elements that can greatly improve your search engine rankings. As a long-term strategy, SEO, when implemented effectively, yields sustainable results and delivers a high return on investment (ROI).
It’s crucial to understand that SEO extends beyond just your website. All of your web content must be optimized for search engines, including your YouTube channels, Google business profile, and podcast episodes. Each of these should be optimized using targeted keywords to maximize reach and engagement. One effective strategy is the pillar-cluster model, where you create a primary pillar page offering a comprehensive overview of a topic, linked to cluster pages that explore subtopics in greater detail.
Additional impactful SEO tactics include leveraging search insights reports, optimizing photos and videos for visual search engines, and ensuring fast load times for media-heavy web pages.
Remember, enhancing your SEO doesn’t have to be a labor-intensive process. Spending just an hour or two to review relevant keywords and incorporate them into your content can make a significant difference in your SEO marketing efforts.
Social Media Shopping Tools: Direct Path to Purchase
Social media shopping tools have revolutionized how consumers interact with brands on platforms like Instagram and Facebook. Features like shoppable posts and in-app checkout streamline the purchasing process, making it easier for customers to buy directly from social media. This channel not only enhances user experience but also drives higher conversion rates compared to organic posts.
The convenience and immediacy of social media shopping tools drive higher conversion rates compared to traditional organic posts. By reducing the number of steps required to make a purchase and providing a smooth, engaging shopping experience, these tools help convert interest into action more effectively. This is one way to transform your organic social media into a powerful sales channel.
Paid Social: Targeted and Measurable
Paid social media advertising allows businesses to target specific demographics, interests, and behaviors, ensuring that your ads reach the right audience. With advanced analytics, you can measure the performance of your campaigns and adjust your strategies in real-time. This precision and flexibility make paid social a powerful tool for driving traffic and conversions.
One of the greatest strengths of paid social media advertising is its ability to target specific demographics, interests, and behaviors. Platforms like Facebook, Instagram, LinkedIn, and Twitter collect vast amounts of data on their users, including age, gender, location, interests, and online behaviors. This wealth of information allows businesses to create highly targeted ad campaigns that reach the most relevant audiences. For example, a B2B company can target ads specifically to professionals in certain industries or job roles.
Email Marketing: Personal and Direct
Email marketing continues to be one of the most effective channels for nurturing leads and driving sales. Unlike email marketing for B2C retailers, B2B email campaigns are centered around providing valuable information and building strong relationships. Rather than focusing on products and sales, B2B emails should offer insights, tips, and other industry-relevant information. As your subscribers move through the sales funnel, you can tailor your content to demonstrate how your company can address their specific problems or help them achieve their goals.
If you’re new to email marketing, starting with a weekly or monthly email newsletter is a great way to begin. Ensure your newsletters are easy to read, informative, and consistently scheduled. There’s no need to overwhelm your subscribers with frequent sales pitches; a well-crafted monthly email can effectively keep your business on their radar and encourage them to explore more about your offerings.
Content Marketing: Building Authority and Trust
Content marketing involves creating valuable, relevant content to attract and engage your target audience. By producing high-quality blog posts, videos, infographics, and other forms of content, you can establish your brand as an authority in your industry. Content marketing not only drives traffic but also builds trust and loyalty among your audience, leading to higher conversion rates over time.
For all of the changes and technological advances that digital marketing has seen, content is still king. Those who commit to creating quality content and distributing it to the right audiences will always see a return. While this approach to B2B marketing means a long-term commitment, it is a very reliable method to build a loyal customer base. If you can commit to a monthly blog post or podcast, you’re already doing more than most.
Turning Things Around with MyFormData
At MyFormData, we specialize in helping B2B marketers and SMB owners optimize their digital marketing strategies. Our team can assist you in identifying the most effective channels and tactics to reach your target audience and achieve your business goals.
- Tailored Strategy Development: We develop customized marketing strategies aligned with your business goals and target audience.
- Unlock Hidden Revenue: MFD captures both submitted and abandoned form data, ensuring no lead is left behind.
- Instant Email Verification: We verify email addresses to prevent junk leads and ensure high-quality data.
- Enriched Lead Profiles: Enrich leads with additional company information for a complete 360° profile.
- Seamless Integration: Integrate effortlessly with platforms like HubSpot, Salesforce, and Marketo.
- Form Analytics for Conversion Optimization: Gain insights into user behavior and optimize form conversions.
- Maximize Marketing ROI: Effectively manage marketing ROI with robust attribution models and comprehensive visibility into marketing expenses.
In a rapidly evolving digital landscape, relying on outdated or ineffective marketing channels can hinder your business growth. By partnering with us, you can turn your marketing efforts around, ensuring you invest in the right channels to drive success and growth for your business.
Take the first step towards a more effective marketing strategy today.