Many people think that SEO and PPC strategies are only profitable for consumer businesses but let us tell you, it’s just a misconception. In manufacturing marketing, only 20% of manufacturers regard themselves as mature content marketers, which accounts for the major gap in the market.
According to an analysis, by the end of 2022, the estimated budget of companies spent on PPC and ad campaigns will be around 137 billion, and the major portion of it is by manufacturing companies.
Importance of PPC for the Manufacturing Industry
PPC generates targeted ads on search engines, such as Google, that relate directly to the search query of a user. This way, your manufacturing business’ ads will be displayed to those searching for the same products you manufacture and help you get potential customers before your competitors.
In simple words, the ad plays the role of a bridge and takes the customer from the search engine to your website and increases conversions.
Importance of SEO for the Manufacturing Industry
In manufacturing businesses, SEO is the most important strategy to bring your products to a wider market. Where PPC is the paid ad placement strategy, SEO is a long-term effort to increase your visibility in search engines. SEO takes more time and effort, but it gives you more results.
The results of SEO campaigns are usually seen after three months, but these results last longer, create a good impression on customers and reach a wider audience.
What is The Best ROI For Manufacturing Businesses?
The best manufacturing business ROI is 5:1. Marketing companies rarely commit to delivering results exceeding 5:1. However, CDM has a number of success stories with a greater ROI ratio than it.
What Are The Steps To Calculate Manufacturing Business ROI?
Calculating your manufacturing business ROI is important so you can know where your business stands and what further efforts you need to improve. But before we tell you the formula to calculate ROI, here are a few terms to know so that you can understand the steps and do it the right way.
What is the Number of Leads?
The number of leads means the number of individuals who interacted with your brand and products but do not convert. By convert, we mean they did not engage with the brand and did not generate sales.
What is Lead to Customer Rate?
Lead to customer rate means the number of individuals who became your customer from lead and generate sales. If 30 individuals out of 100 became your customer, your lead-to-customer rate would be 30%.
What is ASP?
ASP (Average Sales Price) means the average price your customer spends for buying your services or products. As the price of a product depends on the quality and material, it is best to calculate an average price to account for ROI.
What Are Marketing Costs?
Marketing costs are the sum of all the costs you spend on your business’ marketing strategies. It includes all the expenses from service members to the marketing campaigns.
Now Let’s Move To The Formula To Calculate ROI
The simple formula to calculate ROI is (Return-Investment)/Investment.
However, if you want to have an estimate of a more precise statement, then you can use this formula is [(Number of leads x Lead to customer rate x ASP) – Marketing costs] / Marketing costs.
The meaning of these terms has already been explained above, so you know what they mean and how to calculate them.
How To Increase Your Manufacturing Marketing ROI Through SEO & PPC? 2 Ways To Go
So we suppose that you have calculated the ROI of your manufacturing business, but it is less than what you were expecting or might be satisfactory, but you want to take it to the next level.
So here are two things to consider.
Monitor Success Through KPIs
When you launch your PPC ad campaigns, it is important to establish key point indicators to track your overall performance. Tracking your performance through KPIs allows you to calculate your ROI precisely.
The best marketing KPIs your business should track
- Cost per lead
- Revenue from sales
- Marketing qualified leads to sales-qualified leads
- Retention of Customers
- Social media reach
- Unique web visitors
- Organic traffic
You can monitor the success of your manufacturing business by
- Deciding which metrics matter most to your business and meet your strategy’s key objectives, such as increasing organic search traffic and conversions from landing pages.
- Looking at previous data.
- Comparing it with the new data.
- Having a realistic approach
2. Track Your Marketing Campaigns
Tracking campaigns is another way to improve your ROI. By tracking your SEO marketing campaigns, you can determine whether they’re effective at generating leads. There are a number of tools that help you to track the overall statistics of the site, just like google analytics.
When you track your analytics, you can decide the future strategies for your manufacturing business, what strategies work for your type of business, and which makes you lose.
Sometimes the same type of marketing campaign results in different for different businesses. Therefore, you should track everything you do to check outcomes and improve those strategies proving good for your marketing business and increase ROI.
Our Success Story
CDM has helped many manufacturing businesses achieve their goals and high returns on investment. One of our success stories is Nationalgearrepair, which has a strong online presence and generates qualified leads and ROI. The CDM expert team helped NGR achieve its business objectives by offering everything from website design to SEO services, lead generation strategies, marketing services, and more.
As we go through the journey, we discover strategies that no one knows about but are really helpful to achieving business goals. If you are also ready to improve your manufacturing business ROI through SEO and PPC, the team of Creative Digital Marketing is here to help.
We have great success stories to back us up, so you can be sure we’ll tailor campaigns that help grow your business online.