Have you ever gone to see a movie that got worse as you watched it, but you couldn’t leave because of the money you paid to see it? Or have you ever worked on a project that was clearly not going to solve your problem, but you just continued working on it?
In the marketing world, pulling the plug on a campaign can be extremely difficult, especially when you and your team have put a lot of work into it. But sometimes, it’s for the best. In this post, we explain 10 signs it might be time to pull the plug on your marketing campaign.
Why Stop a Marketing Campaign?
You should stop a marketing campaign if you’ve given it enough time and there’s still no sign of success. A company might also stop a marketing campaign if the metrics don’t add up or if the campaign isn’t resulting in quantitative business growth.
10 Signs It’s Time to Stop Your Marketing Campaign
No two campaigns are the same, but these ten signs indicate that it’s time to stop a marketing campaign.
1. If you’re not getting enough value
How do you know whether a marketing campaign is giving you enough value? Well, ask yourself:
- Are you going to break even on the money you’ve spent?
- Does the cost far exceed the value you’ll get?
If the numbers don’t add up, it might be time to stop the campaign.
2. If you’ve given enough time
Marketing campaigns require patience. Sometimes, you might not even see the results from certain campaigns in months.
However, if your marketing campaign takes way longer to generate positive results when compared to other campaigns of its kind, then it’s time to pull the plug.
3. Your optimizations don’t change anything
Suppose, in a bid to save a campaign, you begin to optimize different elements but still don’t notice any improvements; then, you should end the campaign.
You’d be better off spending your time and resources on other campaigns or revenue-generating activities.
4. It’s cheaper to stop now
If you’ll save more time and money by pulling the plug now rather than later, then that’s a sign the campaign needs to end right away!
5. When you’ve tried your best
If you and the team have tried all methods and tricks in the book to no avail, then it might be time to resign and move on with some pride left.
6. If you’re getting negative results
You know it’s time to pull the plug on your campaign if your weekly reports mostly contain red downward arrows instead of the green upward arrows
7. If other campaigns are working
You’re likely running more than one campaign at the same time. If you notice that all of your other campaigns generate the results you want, it’d be smart to drop the underperforming campaigns.
8. When your campaign sends the wrong message
Even the most well-meaning marketing campaign can get a ton of backlash from the public. Whenever a campaign is met with such a negative response, it’s best to unplug the campaign and go back to the drawing board to whip up a new one.
9. You’re getting the wrong clients
You should consider stopping your campaign if you’re engaging the wrong audience and attracting not-so-ideal clients.
For instance, if your goal is to get giant corporations, but you’re inundated with SMEs, then you should have a hard look at your campaign.
10. You’re missing timelines
When creating a campaign, you should tie results to a specific timeline. If you find that you and your team are consistently having difficulties sticking to a campaign’s timeline, then you might need to pull the plug.
What to Expect When Your Marketing Campaign Ends
Here are some things a business should expect when it stops an effective marketing campaign:
- A drop in the number of leads and acquisitions
- Lower impressions on social media
- A decrease in search traffic
- Inability to maintain growth
Therefore, if you have to stop a marketing campaign, you should have a backup plan in place. Have another campaign ready to go as soon as you stop an unsuccessful campaign.
Ready to Pull the Plug?
Although successful marketing campaigns usually take time to mature, it’s essential to know when you’re wasting valuable time and resources.
If the campaign’s cost exceeds its value, attracting the wrong clientele, or downright losing money you’ll never recoup, then it’s time to stop the marketing campaign. With the insights provided in this article, you should be able to determine whether to pull the plug or not.
Editor’s note: This post was originally published in June 2011 and has been updated for comprehensiveness.
8 Effective Ways to Ensure Ecommerce Business Success
It is a known fact that the global consumers are favoring ecommerce, and the reasons for ecommerce business success are many.
According to a Statista forecast, the retail ecommerce revenue in the US is expected to cross 1.3 trillion dollars by the end of 2025.
Image via Statista
While brick-and-mortar stores are gradually losing their dominance, the digital marketplace is blazing. More and more ecommerce brands, big and small, are coming up and gaining a foothold in this ever-expanding landscape.
If you are one such ecommerce business striving to taste success, you know how demanding and competitive things can be. And you only beat the fierce competition with aggressive ecommerce marketing strategies like digital advertising, content marketing, social media marketing, etc.
In this post, I will be sharing 8 key factors you need to focus on to ensure your ecommerce business success and sustainable business growth.
Let’s get started.
8 Key Factors for Ecommerce Business Success in 2022
The future of ecommerce is bright and the small businesses that jump on the bandwagon early will reap great benefits. But what does it take to taste this success?
Here are the 8 key success factors for ecommerce businesses.
1. Target a Niche Audience
The secret to ecommerce business success lies in understanding your target audience and focusing all your efforts on engaging them. Instead of trying to attract a broad audience on the search engines, select a niche audience specific to your small business, understand their pain points and interests, and position your brand to meet their needs. An SEO tool like Semrush or Ahrefs can help you with your research to build a strong marketing strategy based on real insights.
The goal is to make your product unique and market it to a relevant audience that is more likely to make a purchase. This strategy can increase customer loyalty and win repeat customers for your small business. Therein lies the secret to your ecommerce business success.
2. Go Mobile-First
The pandemic has accelerated our shift to ecommerce and given rise to m-commerce. Insider Intelligence estimates that by 2025, m-commerce sales will account for 44.2% of total ecommerce sales in the US.
So it’s clear that the success of your ecommerce business relies on the mobile-friendliness of your site. Having a mobile-friendly online store can help you deliver a seamless online shopping experience to customers on the go.
You can begin by running Google’s Mobile-Friendly Test and building a progressive web application (PWA) for your online store. A responsive design for your website will help boost sales and pave the way for your ecommerce business success.
3. Choose the Right Distribution Channels
Your audiences are active on different channels and if want your products to be visible to them, you need to choose the right distribution channels.
If your business model focuses solely on your ecommerce website, you should broaden your perspective and consider other sales channels. There are several other options to sell your products like Amazon, eBay, social media, affiliate marketing, and so on. You can manage your sales process effectively with the help of sales CRM tools. These tools integrate your different sales channels and makes your sales process more efficient.
Conduct extensive research to figure out which of these channels are preferred by your target customers. Showcase your products in an attractive way to boost your ecommerce sales. This digital marketing strategy can contribute to your ecommerce business success.
4. Create Unique Content
You heard that right. To ensure that your ecommerce brand stands out in the crowd, you should invest in high-quality and diverse content.
Today internet users are flooded with content and to grab their attention you need to think out of the box and create content marketing strategies that truly grab their attention. Remember, video content is ruling the landscape delivering great results. You can use Premiere Pro Presets to create unique and impressive videos and stay ahead of the competition.
Gather insights from customer data analysis, see what your competitors are doing, and learn from your previous digital marketing campaigns to create a more targeted content marketing strategy for your small business.
5. Continually Update Your Email Marketing List
Marketers rely on email marketing to achieve diverse marketing goals. Emails can be used to generate leads, nurture them, build relationships with customers, ensure customer satisfaction and boost ecommerce sales.
But to leverage the power of email marketing, you need to be smart about your email lists and use the right email tools to manage them. There’s no point in sending a thousand emails when only a couple of hundreds of recipients are your target audience.
That’s why segmenting your email lists and keeping them updated is crucial to your ecommerce business success. An effective way to manage your email lists is to ask for the recipients’ feedback on your emails and the information they prefer to receive.
By analyzing the responses, you can make more strategic decisions and ensure the success of your ecommerce business.
6. Deliver a Great Shopping Experience
The expectation of customers in terms of customer experience has skyrocketed and that’s why you need to work towards improving customer satisfaction.
Personalized communication could be one of the biggest game-changers, be it in recommending products, reminding them of abandoned carts, or introducing them to your latest offerings. Creating user story maps can go a long way in making your personalization efforts more effective.
Right from the moment customers land on your page to when they make a purchase, you should strive to create a smooth customer experience. You can also consider incorporating an AI-powered chatbot into your website to take your customer service to the next level.
To make your customers happy, offer them special deals and discounts. Such moves will surely boost your ecommerce business success.
7. Invest in Social Media Marketing
Social media, can be immensely effective in creating brand awareness, extending customer service, and generating leads for your ecommerce business. Facebook, Instagram, Pinterest, and YouTube are all marketers’ favorites to reach out to niche audiences and drive traffic for their sites.
Having said that, it is a crowded market, and winning big on social media isn’t easy. As an ecommerce brand, you need to use social media analytics to create digital marketing campaigns that not only generate engagement but also fill your sales funnel with quality leads.
Ecommerce brands should also leverage social selling as it is growing into a prominent trend. This shoppable post by Macy’s allows its Facebook followers to buy what they like instantly.
Image via Facebook
If invested strategically, selling on social media can act as a profitable sales channel for your business.
8. Leverage Ecommerce Tools
Your team need not struggle to ensure the success of your ecommerce business. A variety of advanced ecommerce tools are at your disposal to optimize your efforts.
Some of the must-use tools for you are:
- Website tools – to design, set up, and manage your ecommerce site
- Ecommerce marketing tools – to help strategize and execute your campaigns with ease
- Competitor analysis tools – to understand the gaps in your planning and improve it
- Analytics tools – to help you gauge the performance of your digital marketing campaigns
- Business tools – to help you manage daily operations, finances, logistics, inventory, and customer service
Choose the ones that can boost the success of your ecommerce business.
There you have it, a list of 8 key factors you need to work on to ensure the success of your ecommerce business. Gaining this success is hard work but it is worth it.
If you want to fuel your business growth, I strongly recommend building your ecommerce marketing strategy to enhance customer experience and build your brand identity. Go ahead and give them a try to beat the competition and establish a successful ecommerce business.
8 Effective Ways to Ensure Ecommerce Business Success
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