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Poor online advertising ROI can put a company out of business in today’s digital setting. In managing an online advertising budget, it is vital to determine whether the money that is being spent well.
What this means is that the advertising efforts should be attracting a sufficiently large number of customers whose purchases would result in additional profits that surpass the amount being spent on advertising.
If the advertising strategies are not attracting enough customers, online advertising ROI would be poor. In other words, you might as well not be doing what you are doing because it is not bringing enough in profits to justify the expense.
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Are You Measuring Advertising ROI Properly?
Measuring your ROI can be difficult when advertising online. Especially if you are doing other kinds of advertising. Any marketing efforts will assist with your advertising. Then there is also the issue of tracking the right metrics.
Thus, it would be advisable to make sure first that your ROI calculations are accurate enough to show what is really happening.
The Impact of a Bad Online Reputation
Presuming that your online advertising ROI has been obtained properly and that it is indeed poor, the next step is to find out if you are using the right kinds of digital advertising strategies.
After ensuring that you are really using marketing campaigns that are supposed to be effective for your particular type of business, it is now likely that your reputation management online is counteracting your efforts, which results in an unsatisfactory ROI. Fix your Poor Online Advertising ROI today!
It is easy to see why a bad online reputation can negatively affect your advertising campaign. Your efforts may be bringing in a large number of potential customers but when they check on your company and find negative comments from dissatisfied customers and others, they would naturally shy away from you.
There are even negative social media impacts you need to be aware of. Make sure to not generate unnecessary leads. Consumers that will never purchase from you are a waste of your time.
Online reviews are incredibly important for a number of reasons, including the fact that they make a company more visible online, and that they make a company look more credible, thereby inspiring trust.
The 2017 Local Search Ranking Factors study by Mox shows us how to rank websites.
Learn more here about how you can respond to negative reviews online and fix your poor online advertising ROI.
Advertising attracts visitors to your website, reviews differ slightly. Online reviews do so in a far more powerful way. In fact, the Local Consumer Review Survey in 2016 demonstrated that 90% of people read less than 10 reviews before deciding on whether that business can be trusted or not.
It also showed that 84 percent trusted online reviews in the same way that they trusted recommendations from friends and acquaintances.
Studies have also shown that almost 50% of companies don’t spend more than 20% of their time focused on reputation. In fact, over half of all businesses do not have a review strategy in place. Yet, surprisingly, 89% of businesses agree that managing their reputation leads to an increased ROI.
Those companies with a positive online reputation will receive more click-throughs than their competition. The added benefit acts as a “behavioral signal”. Which tells the search engine that a website is popular, which then boosts its ranking.
This results in a positive spiral, in other words.
Increasing Poor Online Advertising ROI Through Reputation Management
Businesses must commit to having an online reputation management strategy in place as part of their online advertising campaign. First of all, it will make the company more aware of its reputation. Correct any mistakes to minimize the decline.
It is essential to be proactive to suppress or eliminate negative information and boost the positive ones. This includes asking customers for reviews without providing them with an incentive. It also means addressing negative reviews and making improvements that would prevent similar occurrences in the future.
Convincing someone who left a 1-star review to change that into a 3-star review, for instance, would be beneficial. Contact us now to improve your poor online advertising ROI.
Your money is worth something, stop throwing it down the drain.
NetReputation.com has been advising clients on Poor Online Advertising ROI caused by a negative reputation for over 5 years.