ROI stands for Return on Investment. It indicates the revenue you earn in relation to the money you spend on a particular endeavor. A positive ROI means that you earn a profit on your investment. For example, a company spending $400 and earning $1,000 would have a positive ROI.
On the other hand, a negative ROI indicates investment loss.
In digital marketing, ROI refers to the benefit in sales and brand popularity that a certain marketing activity yields as compared to the costs it demands. If you are looking to spend less and get more with your digital marketing, you’re at the right place. We’re going to be looking at some tips for that in this post.
An Overview of Digital Marketing
Since we’re going to be talking about digital marketing as a whole, it is somewhat prudent to begin our discussion by listing some of the main sub-types it is made up of.
Digital marketing essentially refers to all marketing activities that depend on the Internet as their medium of propagation. As such, methods such as email marketing, social media marketing, and mobile marketing are all sub-types.
In the coming tips, we will try and address some of the main types of digital marketing.
Tips for Improving Digital Marketing ROI with AI
1. Utilize AI to Create Better Content for Marketing
Written content plays a major role in a lot of different marketing types. Especially in content marketing, quality content is necessary for attracting and retaining an audience, who are then provided the marketing materials necessary for the promotion of the brand and its offerings.
Creating quality content is often something that many brands can spend a lot of money on. The cost of hiring writers and editors is often substantial when considered over a long period of time. The money spent on all this often puts a dent in the ROI.
With AI, however, quality content creation is much easier. Considering how these tools are available on the Internet, there is often no need to spend half as much on them as you need to do on a team of writers and editors.
When your investment decreases, your ROI will increase since you’ll be able to make the same, if not more, revenue from marketing activities.
So, how exactly do you use AI to create quality content? Here are some actionable ways:
- One way to create good-quality content with AI is to use AI assistants such as the famous ChatGPT. A short prompt can help you get a whole segment of well-written content that can utilized after a brief session of tweaks and touch-ups.
- Another way to utilize AI for quality content creation is to employ it in a partial and assistive capacity. In other words, you can write the content yourself and delegate the post-writing improvements to AI instead. In such a case, using an online paraphrasing tool, like Paraphrase-Online, can be quite beneficial. These types of tools can improve the flow and style of the content and make it more appealing for the readers.
By using these methods, you can cut down on the actual costs of creating content by delegating that task to AI instead.
2. Utilize AI for Marketing Automation
This applies more to email marketing than any other type of digital marketing.
In email marketing, timing is key. You have to be careful about the time you pick for sending your email messages. The timing should be conducive to maximum exposure, which can, in turn, bring around maximum ROI.
Now, it may not always be very easy to be up and available at an opportune time for emailing. For example, if you are marketing your wares to people in a different region and in a different time zone, it could mean that a prime time like 1 PM over there could be 3 AM for you.
In situations like these, automation can come in handy. By using AI, you can set up your messages to be delivered at a particular time. You can also automate different responses and replies to be sent to the recipients should they send a message back, etc. Online platforms like MailChimp and Brevo can be used for this purpose, i.e., automating and setting up email campaigns.
When you automate your marketing activities, you don’t have to spend as much manual labor on those same tasks. This helps in reducing your investment. Plus, automated emails are much quicker and more customer-friendly. You can get more positive results out of your email campaigns if you automate them. All of this ultimately helps you increase the ROI.
3. Utilize AI for Marketing Performance Analysis
Analyzing your marketing activities and their outcomes is very important. This helps you realize what sort of activities you should adhere to and which ones you should discard.
Selecting and filtering your marketing approaches in this manner helps you create a campaign that provides excellent outcomes and ROI.
But here’s the thing.
Running these types of analyses is not very easy when they are done manually. They require a lot of time and effort, and it can indirectly mean that you have to spend a lot of money on them. The tools and manual labor can translate to a hefty cost, which can disturb the ROI.
However, if you use AI-assisted online tools and software for running marketing performance analyses, you don’t have to spend as much time or effort. That way, your investment can decrease, and your ROI can increase.
There are different online tools that you can use for running performance analyses, depending on the type of marketing that you’re doing. For example, if you are working on content marketing and need to check the efficacy of your SEO efforts, you can use tools like Ahrefs.
If you are doing email marketing, then you can find analytics on platforms like MailChimp.
Conclusion
Using AI for digital marketing can be a great way to improve your ROI. A lot of AI tools help you in saving time and money, which can then be utilized elsewhere. As a result, the investment that you spend on marketing is reduced, which means you get to keep a greater part of the revenue as profit.
We hope you enjoyed reading the post above and we hope you learned a thing or two.
