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Marketing is the driving force behind any rewarding business model. Many misconceptions arise when questioning exactly what a marketing agency is and what they can do for your business. Put simply– marketing is the art of advertising. However, the process is more complicated than merely lighting up a huge sign. Marketing techniques involve advance brand building strategies that build long-lasting relationships with consumers and other businesses to ultimately drive sales.

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How Digital Marketing can help your Local Miami Business

Greater Reach and More Flexibility

At On the Map, our primary goal as a Miami marketing agency is simple. We want to help our clients to succeed and grow through calculated, concentrated digital marketing campaigns. This ambition is what has set us apart from other marketing agencies in Miami and throughout the country, but in order to accomplish this goal, our marketing team must also inform our clients of new marketing methods, analytics technologies, and the advantages these factors yield over traditional marketing channels.

In 2018, running an ad during the Superbowl carried a price tag of $5.24 million according to Forbes Magazine. Undoubtedly, this price tag can be attributed to the 100 million people who watch the Superbowl live each year, but when you consider that an ad on Facebook carried an average cost-per-click (CPC) price of $1.10 by some estimates, you might begin to wonder why a company would pay over five million dollars to run a single ad. After all, if you took the money spent on a single ad during the Superbowl and used it to run ads focused on Facebook’s 1.52 billion daily active users, you could purchase about 4.7 million clicks to your website. This comparison shows the main difference between traditional and digital marketing agencies in Miami.

A Miami marketing agency that focuses exclusively on digital advertising, like On the Map, allows you to spend your advertising dollars in the most effective and cost-efficient manner possible. Technology is changing everything, including the way customers locate and evaluate your business, and the same reach that print, mail, and TV ads have can now be harnessed and surpassed by utilizing platforms with millions of users such as Google, Facebook, Linkedin, Twitter, and Youtube. Moreover, these platforms allow you to reach these customers for a fraction of the cost of traditional advertising channels.

A Miami Marketing Agency that Targets Customers with Precision

How many different age groups watch a single TV show or read a popular publication? Regardless of how targeted a traditional ad may be, it will still be inadvertently presented to a consumer outside of your target market. Men will view ads designed for women and vice versa. Billboards designed to appeal to teens will be viewed by seniors. These scenarios are an unavoidable flaw of traditional advertising channels, and they represent missed opportunities.

The digital age has done a very good job of correcting this issue. Emails go directly to a business owner or a specific consumer. They don’t get tossed out by secretaries or family members. Ads purchased on Googleebook, and YouTube allow you to target consumers according to their age, gender, geographic location, and even their interests and profession. Moreover, a Miami marketing agency, like On the Map, delivers customized, in-depth reports every month that demonstrate how effective your ads have been, the demographics of users who click on your ad, and the exact number of consumers who visited your website due to a specific ad or marketing channel. Moreover, the implementation of analytics programs, like Google Analytics, allow you to look beyond your budget and see how effective your Miami marketing agency truly is. These analytics packages allow you to track, among other things, your website’s:

  • Return on investment
  • Traffic channel volume
  • Number of monthly users
  • User demographics such as age, location, gender, interests, etc.
  • Number of page views for each individual webpage and more
A Miami Marketing Agency that can Change a Message in Hours, not Days

When you are rolling out a new product or service, how long does it take to change your ads or your company’s message? With a Miami marketing agency like On the Map, a few hours. The flexibility that digital marketing offers is unprecedented. Social media accounts can be drastically changed, new ads can be written and published, and new products can be showcased all in the span of a few hours, or in some cases, about 45 minutes. This flexibility saves your company money and time. You don’t have thousands of dollars worth of flyers sitting in an office when your new product is ready to launch. You don’t have to hire a team to design a commercial for a new product. All of these tasks and more can be changed, modified, or built in a fraction of the time that traditional marketing used to consume.

So, we have determined that digital marketing, in general, is more cost-effective, efficient, flexible, and accurate than any other traditional advertising method your business could utilize. The only question you have to answer now is “What can a Miami marketing agency like On the Map do for my company?” Don’t worry. We can help get the answer for you. Give our office a call today to find out how a Miami marketing agency specializing exclusively in digital marketing can help your business.

Cost Effective: Plan your Budget Better

Every quarter, businesses all around the country struggle with the same question: “How much should we spend on advertising?” As a Miami marketing agency, our team at On the Map encounters this question a lot, and the answer is different in every case. However, our goal is the same in every situation. We want to design a marketing plan that maximizes the effectiveness of every dollar you spend on digital advertising. This allows us to build long-lasting relationships with our clients, rather than a one-time transaction, but planning an effective budget takes time, experience, and collaboration, which is why we want to give you specific tips on how to plan a budget with our Miami marketing agency that maximizes the value of every dollar your company spends on digital advertising.

Start with 7-8% of your Projected Gross Revenues

According to the U.S. Small Business Administration, small and start-up companies should allocate 7-8% of their projected gross revenues to marketing. This method gives you the flexibility to adjust your marketing budget if you have a slow quarter, but keep in mind, while this general rule applies to most businesses, it does not apply to all of them. Some company’s that are building brand awareness allocate as much as 20% of their projected gross revenues to marketing during the brand’s infant stages of development. Other common ways to calculate a marketing budget include:

  • Percentage of overall budget
  • Percentage of past units sold
  • Any combination of the common methods listed such as 3% of past sales and 3% of projected future sales
Collaborate with your Miami Marketing Agency

Since there is some variation in how different companies calculate their budgets, collaborating with your Miami marketing agency is key. At On the Map, our marketing specialist typically have several one-on-one interactions with our clients to determine the appropriate amount of money their business should allocate to marketing. The figure is generally based on factors such as the business’ goals, customer base, and target market.

Never Dismiss. Always Allocate

The stark contrast between traditional and digital marketing is the cost associated with utilizing every channel. It used to be that most companies had to pick and choose which traditional channels they would utilize due to the cost associated channels such as print, mail, TV, and billboards. Only the largest corporations with extensive marketing budgets could afford to utilize all of these channels in a single campaign, but the technological advances of the modern era have made every digital marketing channel affordable and accessible. As such, your business should always exploit every digital marketing channel available in one form or another through either allocating a set amount to spend on each channel or utilizing the free version of a marketing channel when possible.

Channels such as Google Ads, Facebook, Twitter, and more all have a budget limit that can be set on the platform. Meaning, you, with the help of your Miami marketing agency, can create a set limit on the amount of funds spent through each channel. This ensures that you never run over budget, you are able to effectively measure your ROI for each channel, and adjust your marketing strategy at any time without losing marketing dollars. Moreover, even if you can’t afford to advertise on social media platforms, you can create an account for your business for free and connect it to your website. This method of allocating a fraction of your budget to each channel ensures that you’re directing as much traffic as possible to your website from as many outlets as possible.

In 2016, businesses nationwide spent an estimated 71.3 billion dollars on TV advertising and 72.5 billion dollars on digital advertising. So, for the first time ever, digital marketing revenues have surpassed TV advertising in the U.S. This occurred due to the strengths that digital marketing yields over TV from a financial and impact perspective. One inherent flaw in TV advertising and all other forms of traditional advertising is the level of investment and risk associated with using them. You could spend thousands, if not millions, on advertising on TV or print only to have the ad fail. Moreover, making an impression in a consumer’s mind is simply not as effective as enticing a click.

As such, when compared to traditional marketing channels, digital marketing offers your company a measurable ROI, hard data on effectiveness, several cost-effective methods of advertising, and the flexibility to alter ad campaigns easily. All of these factors combined offers your business a more effective and lucrative method of marketing your product or services.

On the Map is a Miami marketing agency that has helped businesses nationwide grow through cost-effective, calculated digital marketing campaigns. Our marketing specialists will help you draft a cost-effective marketing plan, an allocated budget that meets your company’s needs, and a reporting method that allows you to track the effectiveness of your campaign, so contact our office today to speak with a marketing specialist to find out how we can help your company grow!

Data Driven: Measure and Improve Your Digital Marketing ROI

According to the U.S. Census Bureau, there were over six million businesses in the U.S. as of the end of the 2015-16 fiscal year. These businesses operate in different industries, vary in size, and offer unique products and services, but while all of these companies, yours included, are different, they all use return on investment (ROI) as a key performance indicator (KPI). In fact, you could easily argue that ROI is one of the most universally used KPIs worldwide, because it measures a critical piece of information: how profitable an investment is.

As such, it probably won’t surprise you that companies use ROI as a KPI for their digital marketing spending. After all, businesses view the work performed by their Miami marketing agency as an investment that is no different than purchasing property, equipment, or intangible assets, but here at On the Map, we often see a lot of business owners with misconceptions as to how the ROI on their digital marketing budget is calculated.

Put simply, ROI in the context of your digital marketing budget is the return or loss on the money you have spent on digital marketing. In order to calculate and project this KPI properly, you need to have a few key metrics including:

  • Your website’s conversion rate
  • The average value of each conversion

When you employ the services of a Miami marketing agency, you should receive a performance report every month that will contain many of these metrics. Moreover, you can also track this information on your website’s Google Analytics account, but it’s important for you to understand what these metrics mean in the context of your business.

Your Website’s Conversion Rate

Every company defines a conversion differently. To some, a conversion represents a sale. These types of companies generally sell a product online thereby allowing them to define a conversion as a specific action on the part of the consumer. For others, a conversion represents a sales lead such as a customer completing a sales-inquiry form online or contacting your business directly via phone. As such, one of the most important aspects of calculating your website’s ROI is defining exactly what a conversion represents. The next step is to track how many users visit your website and ultimately convert to a sale or lead over a given period of time. These two metrics can then be used to determine your website’s conversion rate. The formula for your website’s conversion rate is listed below.

ROI CRP

Here is a real-world example of this formula.

ROI CR

The reason why your company’s definition of a conversion is so important is, there are many companies that have a two-part sales strategy. They use their website to generate leads for their sales team, but the lead is only considered a conversion after making a purchase. In this scenario, the ROI on your marketing budget should account for the effectiveness of your website and your sales team. Meaning, if your website has a 20% conversion rate or lead-generation rate and your sales team is only converting 2% of those leads into sales, it could mean that your sales team needs additional training rather than your marketing strategy being ineffective.

Value or Revenue per Conversion

The majority of businesses nationwide offer multiple products that vary in price. As such, the preferred method of assessing the value of a conversion generated from your business’ website is to calculate the average revenue per conversion. This information is either projected or calculated based sales from previous years. The formula for average revenue per conversion is listed below:

ROI ARPC

If you operate a lead-based business, you would calculate the average amount of revenue generated per lead. Meaning, if your company defines a lead as a conversion but only a percentage of those leads convert into an actual sale, you would use the value of sales generated from the leads that did convert as your revenue figure and divide it by the total number of leads generated from your website as demonstrated below:

ROI ARPL

Many companies calculate their ROI on both an ongoing basis and at the end of every quarter and year. The basic formula for ROI is straightforward.

ROI

Although revenue is used in our formulas, the amount of profits generated per customer can be used as well. Moreover, the formula can be modified to demonstrate your ROI on a per month basis by calculating your ROI using monthly revenue and cost figures.

Analyzing Conversion Rate Data

Once you have calculated your website’s past conversion rate, revenue per conversion, and ROI, your conversion rate data can be used to quickly see the impact of increases and decreases in your marketing budget. For example, suppose your company had a $5,000 marketing and website budget for the 4th quarter of 2018. The conversion rate for your website at the end of that quarter was 10%, and conversions for the 4th quarter generated $7,500 in revenue, which equals a 50% ROI. As a result, you decide to double your budget, but the result of the budget increase is a 5% increase in your website’s conversion rate that generates $3,750 in additional revenue thereby causing your ROI to drop from 50% to 12.5%.

This example demonstrates a critical aspect of using the data from your website to make budgeting decisions in the future. At some point, the value generated from every marketing dollar starts to diminish. This is called the point of diminishing returns, but when this occurs, the effect of diminishing returns can be offset by evaluating the impact the spending increase had on each marketing channel with your Miami marketing agency.

Most analytics programs allow you to track the number of visitors and conversions your website attracts from each marketing channel. If you use Google analytics, the breakdown will look like this.

Channels

This data allows you to see the impact of your advertising efforts on a per-channel basis, and this data is of particular importance with respect to gauging the impact of any changes made in how you allocate portions of you marketing budget. Going back to our example, if an overall increase in your marketing budget results in a decrease in your marketing ROI but you notice that it has the opposite effect on the money allocated to a specific channel, you can increase the amount allocated to the channels where the additional funding will have the highest impact to circumvent the point of diminishing returns.

Moreover, evaluating increases and decreases in the number of visitors and conversions each marketing channel yields with your Miami marketing agency will allow you measure the effectiveness of a specific marketing campaign such as emails, social media, SEO, etc.

Consumers go through several steps before reaching the point where they convert into a sale or lead. These steps are commonly referred to as a “Marketing Funnel,” because the number of customers generally diminishes as they complete each step in the conversion process. By way of example, the marketing funnel of an e-commerce website could be as follows:

  1. 1,000 customers visit your website in a month
  2. 800 of those customers engage with the website and evaluate a product
  3. 500 of those customers place a product in their purchase cart
  4. 400 of those customers complete a purchase form
  5. 200 of those customers complete their payment and make a purchase

The conversion rate for our example website would be 20%. Conversion rate optimization is a process used by your Miami marketing agency make improvements to your website at each step in the conversion process in an effort to increase the number of visitors who ultimately convert into a sale or lead. These improvements can take many forms such as:

  • Simplifying purchase or lead forms
  • Changing aesthetic aspects of your website such as changes in the size, shape, and color of purchase buttons.
  • Changing structural aspects of your website
  • Simplifying payment forms

Our team at On the Map is here to help! Contact our office today to speak with a digital marketing specialist who will explain how our Miami marketing agency can help your business. Our marketers will provide you with in-depth performance reports, ROI and conversion rate analysis, and more. So call today to take the first step in helping your business grow through a targeted digital advertising campaign.

Why Choose Our Miami Digital Marketing Agency?

SEO Experts in Industry

Over 10 Years of Digital Marketing Experience!

Here at On the Map Marketing, we don’t think of ourselves as just SEO professionals. Rather, we think of ourselves as a team with the tools to help others succeed in business. Our digital marketing experience lets us get our clients the results they want.

With more than 10 years as a digital marketing agency in Miami, On the Map Marketing knows what it takes to be successful. We have offices in three continents and have helped hundreds of businesses with their search engine ranking goals. As a result, those companies have increased their revenue and generated more leads through their websites.

You don’t have to take our word for it. In 2017 and 2018, our Miami digital marketing agency ranked as one of the top 5000 fastest growing American companies by Inc. Magazine.

In House

An In-House Team for Your Digital Marketing Needs

Some marketing agencies choose to give some of their work to third parties. Although this might save them money, it could hurt you. Often, subcontracting work causes delays, poor quality, and inconsistent prices.

But On the Map Marketing believes you deserve the best. We do all of our digital marketing in-house, which keeps your business in good hands. As we handle your campaign, we work hard to make sure everything is done on time and with the highest of standards.

Marketing is a broad topic. For that reason, we have experts in several different niches of digital marketing. We employ content creators, web designers, and digital marketing professionals to work on your campaign.

You can have confidence that our Miami marketing agency team can create an effective campaign. Additionally, you can save time by getting all of your services from the same place.

Tracked Data

Data Tracking

One of the keys to great digital marketing is measuring results. If you can’t see how your performance, search engine ranking, or lead generation has changed, you don’t know if your campaign is effective. Our Miami digital marketing experts know the value of data tracking. Therefore, we include monthly reporting in every one of our service packages.

While data tracking allows you to measure your success, it also has another role. It gives you the ability to learn more about your customer base. You can find out more about their demographics, online behavior, and characteristics. With that information, your business can use more effective sales strategies to target the right customers.

The main goal of our company is to help your business grow on the internet and in your physical location. At On the Map Marketing, we give you the tools you need to succeed.

Consistent Results

Consistency is Key

For great results, you need consistency. The Miami digital marketing experts at On the Map Marketing have a track record of providing consistent digital marketing services. Time after time, we deliver high-quality work that gets our clients the best possible results.

You can look at our portfolio to learn more about our history of success. In it, you will find a list of first-rate websites and an ever-growing list of testimonials. We’ve worked with business owners like you in the past, and we’ve helped them experience the joys of great digital marketing.

The only way to experience it for yourself is to call a digital marketing agency in Miami. Contact us today and begin your journey towards a better online presence.

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