Is a Short-Sighted Performance Marketing Strategy Holding You Back?
Reassessing Digital Marketing Strategy: Balancing Short-Term ROAS with Long-Term Business Growth.
A common issue we encounter when evaluating another agency's paid platform work is the tendency to prioritise current customer conversions to produce superficially impressive metrics for clients.
These ‘vanity metrics’ might provide business owners some instant gratification, but behind the scenes their budget is being wasted on existing customers at the expense of acquiring new ones – one of the most valuable uses for paid marketing.
PH does performance marketing differently.
First, we consult closely with all new clients to align their digital efforts with their broader business goals. This enables us to avoid seeing paid platforms as isolated channels that deliver superficial results, and rather as tools we can leverage to drive overall business objectives.
Next, we tailor a robust performance marketing strategy for your business that prioritises visibility with and acquisition of new customers. Specific attention will be paid to customer targeting and messaging at the top of the funnel (TOF) to reduce Cost Per Acquisition (CPA) at this layer, which in turn helps to improve overall Return on Ad Spend (ROAS) and achieve overall business growth.
Your strategy might include:
> Customer Avatar Analysis: We conduct in-depth analysis to create detailed customer avatars, making recommendations across demographics, behaviours, pain points, and preferences.
> Content Strategy: Our team will develop compelling and relevant content tailored to your target audience's needs and interests, ensuring it resonates with them at every touchpoint.
> Brand Strategy: We can help define your brand identity, voice, and positioning to differentiate yourself in the market and attract new customers, with specific attention paid to achieving cut-through on digital channels
We’ll then implement the following as part of your bespoke, digital strategy roadmap:
> Key E-commerce Metrics Analysis and Recommendations: Our team will analyse metrics such as Average Order Value (AOV), Conversion Rate, and Customer Lifetime Value (CLV) to identify areas for improvement and develop strategies to increase your sales and revenue.
> E-newsletter Automation Strategy: Assistance in implementing automated EDMs to nurture leads, re-engage customers, and drive sales through personalised content and offers.
> UX Audit and Recommendations: We can evaluate your website's user experience (UX) to identify usability issues, optimise navigation, streamline checkout processes, and improve overall conversion rates.
In Summary
If your digital ads and platforms are getting high returns but your total sales aren’t growing, it could be because you’re over-investing in current customers.
By partnering with PH, you can effectively optimise your performance marketing efforts to attract new customers, drive conversions, and achieve long-term business growth.
Do you suspect your performance marketing strategy is focused solely on short-term gains over long-term growth?
Let’s talk today.