If you’re trying to maximize growth and increase profits so that you can pay down debt, perfecting your marketing techniques is vital. To figure out which techniques work well, take a look at the ROI, return on investment, of each one. If you can maximize your ROI and maintain it over the long term, you should have access to money.
Explore the following three marketing strategies that will give you a good ROI and allow you to pay off debt and get your financial life in order.
Image via Flickr by verchmarco
Email marketing is an online marketing strategy that has a good ROI. This effect is due in part to the fact that building a subscriber list and sending emails is relatively inexpensive.
You want to continue to grow your email list since your ROI will grow with it. Learn the strategies, such as including calls to action in your emails and making your emails mobile friendly, to get the greatest ROI from email marketing.
Paid advertising includes several different categories, and they all have a good return on investment.
- Pay per click is a business model where a company places an ad on a website and pays a specific amount of money to the website each time a user clicks on the company’s ad.
- Pay per impression is an advertising model where a company pays for the number of times an advertisement is shown on a website. The website gets paid even if no one clicks on the ad.
- Display ads are large advertisements featured in magazines, newspapers, and on websites.
Use any profits you make from paid advertising to reduce your debt. Keep in mind that you’ll need to use some of the money you make to invest in future ads.
Content Marketing and SEO
You can get started in content marketing and SEO without making a monetary investment, but you’ll have to invest a significant amount of time. Content marketing and SEO requires patience; you’ll need some time to see results. However, each piece of content you produce will provide lasting value to your brand through website traffic, referral traffic, or domain authority.
Content marketing is a good marketing strategy for many business owners, but it may be particularly appealing to those in debt because it doesn’t require a monetary investment. Since you won’t see immediate results from content marketing, you’ll need another way to pay down your debt while you wait.
Consider a debt settlement program if you have an overwhelming amount of debt and are unable to make your payments while growing your business. Debt settlement may allow you to restructure your loans by combining several monthly payments into a single payment at a lower interest rate. For example, you could possibly use debt settlement to help you pay back taxes owed to the IRS. Talk to a professional for advice about qualifying for a debt settlement plan.
ROI is an important consideration when determining the effectiveness of any marketing campaign. It becomes more important when you need to pay off debt while executing your campaign. Think about email marketing, paid content, and content marketing and SEO when deciding which marketing strategies to use.