With digital marketing, too many businesses try to pull a rabbit out of the hat each month and create a marketing miracle, when all they should be doing is focusing on consistent efforts every single day.
Creating an award winning digital marketing campaign for one month and then doing nothing the next is pretty much useless. It’s better to build a digital marketing campaign that delivers you a consistent flow of new business and runs day in and day out for the long term. You want to build yourself a “digital marketing asset”, something that delivers value on an ongoing basis.
It’s much better to spend $1,000 a month on a digital marketing campaign over the course of a year, and generate consistent returns, than blow a whole heap of cash in the hope of a miracle on one particular month. Successful businesses never rely on miracles. They rely on proven consistent efforts done day in and day out.
Let’s take a look at the math.
Let’s say you spend $10,000 on Google Adwords and Facebook Ads one month, hoping for a miracle. I guarantee you the most money you’ll get back on that will be $10,000 at the very most, a return of nothing. Why? Because that’s not the way digital marketing works. You need to start by testing small, gather data and then start to optimise. You can’t fluke it; it’s a science.
Now, let’s say you spend $1,000 on Google Adwords every month for an entire year. The first month you’ll probably break even because you’re testing and gathering data. Over the next eleven months, the return will continue to scale until you reach the campaign's optimum position. Over the course of the year you’ll spend $12,000 ($1,000 a month) and you’ll get back anywhere from $24,000 to $240,000 depending how good is the person manning your campaign.
So, to compare the two situations:
Miracle Month – best case is your money back (no gain)
Consistent Effort – anywhere from 100-2,000% ROI
When I studied 200 successful businesses I found that none of them ever tried to pull off “miracle months”. They focused on proven, consistent efforts done day in and day out. Their marketing budgets were never $10,000 one month and then nothing the next. Their budgets were spread evenly throughout the year, with the exception of “high seasons” in some particular industries, such as the Christmas period for consumer products.
Successful businesses considered their digital marketing campaigns as one of their greatest assets.
Let me use one of my clients as an example.
We had a client in the carpet and rug industry in New Zealand. When I met them they would do something different every single month to get customers in the door and turn inventory. Some months it was radio, some newspapers, some prime time on TV stations and sometimes big 5-figure spends on Facebook advertising.
Each time they did these campaigns they got customers in the door and they turned the inventory, which was great! But the next month they’d have to come up with something completely new.
I set them up with a digital marketing campaign that incorporated multiple traffic sources and delivered them every single month what used to be the return of their very best “miracle month”. All this without fail and with no guesswork, rabbit-in-a-hat tricks or sleepless nights hoping things would work out.