ROAS, or Return On Ad Spend, measures how well your marketing campaigns are running. After understanding the basics in Part 1, let’s talk deep into optimizing performances!
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ROAS Improvement Strategies
After measuring ROAS, use the following approaches to take your marketing campaigns to the next level:
1. Spend Less on Ads
- Experiment with different bidding strategies for your advertising campaigns; keep trying and adapting!
- If bidding for Google Search Ads, consider not aiming for the top spot in search results. Go for a lower position to save you money while still being visible on the first page.
- For Meta Ads, leverage automatic placements to allow the system to optimise your ads for the best-performing placements, yielding the best results at the lowest costs.
2. Target the Right Audience
- Maintain a mix of branded and non-branded keywords in your campaign: Non-branded keywords help you reach new customers and boost visibility, while branded keywords enhance competitiveness and drive conversions.
- Craft appealing creatives: Optimise for mobile placements, use attention-grabbing visuals, write clear messaging with concise and understandable text, and a compelling Call-to-Action (CTA).
- Target individuals similar to your target audience in terms of demographics, interests, finances, and lifestyle.
3. Improve Conversion Rates
- Make sure your ads lead to relevant landing pages. The page users land on should match what they expect based on the ad.
- Create personalised landing pages and optimise their load speed to engage users.
- Use storytelling in your ads to connect with your audience personally.
4. Increase Customer Lifetime Value (LTV)
- Retain your current customers, as it’s more cost-effective than getting new ones.
- Use Retargeting ads to bring back visitors who didn’t convert.
- Run email campaigns to keep subscribers informed and interested.
- Think about loyalty programs that offer multiple benefits or rewards in return.
Leveraging ROAS
Benefit your business with the following usage:
- Precise gauge of Campaign Effectiveness and Revenue Generation
- Budget Planning & Optimisation to prioritise high ROAS campaigns
- Bid Strategy Improvement
- Goal Tracking
- Competitive Benchmarking against industry standards and competitors
- Ad Platform Evaluation for effective budget allocation
- Product and Pricing Decisions for different offerings to customers
- Customer Segmentation
- Long-Term Strategy
This article is originally published by Aspire:
Aspire is the all-in-one finance platform for modern businesses, helping over 15,000 companies save time and money with international payments, expense management, payable management, and receivable management solutions — accessible via a single, user-friendly account.
