The entire focus of having a marketing budget is to allocate money to generate buzz for your brand. You can use that marketing budget in a variety of ways to spread the word about your brand, share positive consumer reactions, and promote special events that involve your product or service. However, there's no saying you have to spend all of that money or spend it frivolously in order to succeed. In fact, if you're a small business owner you might find more benefits by lowering your cost per acquisition, the amount you're spending to get possible conversions. Here are four ways you can lower your CPA.
Read More: Understanding How Cost Per Acquisition Works
Grow Email Marketing Lists
Email marketing remains a powerful tool for brands in the 21st century. If you think about your own email inbox, it is likely full of fresh emails every day from brands both large and small. Each one has a unique offer or new product introduction that is designed to pique the interest of consumers. Growing your email marketing list can help you maintain a consistent line of contact with your customer base, allows you to offer them unique deals other customers aren't afforded, and it can lower your CPA as well. Email marketing has one of the lowest CPA rates.
Use Re-marketing Campaigns
Re-marketing campaigns offer businesses a second chance to capture the same audience. The most common example is the abandoned online shopping cart. Customers browse a site, add one or more items to the cart, and then change their minds or simply get distracted by something else while surfing the web. Re-marketing campaigns can be deployed in more than 100 different ways using Google analytics, from simple email reminders to registered customers to social media ads that promote the same products to that consumer on a different site to catch their eye again. Re-marketing can lower your CPA but not having to start fresh on customer acquisition at the top of the sales funnel. Those individuals looked once already, you just have to catch their eye again.
Read More: How to Lower Your Cost Per Acquisition
Stop Wasting Money on Useless Paid Campaigns
This one seems like a no-brainer, but it wouldn't be on the list if brands weren't guilty of it. As you launch your digital marketing campaigns, you're likely to spread your budgeted funds across a variety of verticals to try and reach as large an audience as possible. The problem with doing so is that you can lose track of which paid campaigns are working and which ones are under performing. Make sure to follow the analytics on all of your ad campaigns and figure out which paid ones are performing and which ones are sluggish. Pause or altogether cancel any paid campaigns that simply aren't generating a good enough ROI for your time and money.
Give Pay Per Call a Try
If you haven't already invested in Pay Per Call, now is the time to do so. It is estimated that 169 billion calls will be placed to businesses by 2020, and that figure is expected to continue growing in the decade to come. Pay Per Call puts your business number in front of consumers and makes it easier for them to simply call you rather than fill out lead forms or send long emails. Best of all, dealing with customers over the phone reduces the time it takes to figure out and resolve their issues, and ensures you can react in real time. It also has the benefit of boosting your brand image with customers, which means you'll work less to attract return customers in the future.