How to Start with ROAS: Improve Your Return on Ad Spend
Posted by LeadScale on July 28, 2023
Welcome to our ROAS (Return on Ad Spend) blog series. Stay tuned to our blog page to learn all you need to improve your ROAS.
So, you’ve decided to take your advertising game to the next level and improve your ROAS (Return on Ad Spend). You’re on your way to maximizing the impact of your advertising efforts and driving more revenue per ad spend. But where do you begin?
We have some practical tips and tricks to get you started.
Define Your Goals and Objectives
Before tweaking your campaigns, you need a clear idea of what you want to achieve. Therefore, set specific campaign goals and objectives, such as increasing website traffic or generating more leads. This will help you measure your progress and adjust your strategies accordingly. Not having a clear goal in your campaigns, it’s like going on a road trip without a map. You might end up somewhere great, but having a clear destination is better.
Analyze Your Data
Data is king when it comes to improving your ROAS. Analyze your existing ad campaigns to identify trends and patterns. Look for areas where you’re spending too much money or not generating enough revenue. Use this data to optimize your campaigns and make informed decisions.
A study by Google found that knowing where to allocate your ad spend can lead to up to 20% higher conversion rates and 50% lower cost-per-acquisition. By carefully targeting your ads to the proper channels and audiences, you can get more bang for your buck and achieve better results from your marketing campaigns.
That’s a win-win situation if we’ve ever seen one.
Optimize Your Landing Pages
Your landing pages are where the magic happens. They’re the destination for your potential customers and play a crucial role in driving conversions and improving your ROAS.
According to a study by WordStream, “the average conversion rate for landing pages is 2.35%, but the top 25% of landing pages convert at 5.31% or higher”. So, ensure your landing pages are visually appealing, easy to navigate, and mobile-friendly. Include a clear and compelling call to action, and test different variations to see which version performs best. And, of course, ensure your landing pages align with your ad copy and keywords. Finally, test different landing page variations to see which version performs best. All your landing page ingredients must work together to create the best final product possible.
Conduct Keyword Research
Effective keyword research is vital to reaching your ideal audience and increasing the likelihood of converting them into customers. Identify the keywords and phrases relevant to your business and industry. Use keyword research tools to see how often these keywords are searched and how competitive they are. Focus on targeting long-tail keywords, which are more specific and have lower competition than broader keywords.
The fact is that consumers are more likely to engage with ads tailored to their interests and preferences. According to a study by Epsilon, 80% of consumers are more likely to purchase when brands offer personalized experiences. Therefore, investing in customized ad experiences can result in higher engagement rates and ultimately drive more revenue per ad spend.
Improving your ROAS might seem daunting, but with these strategies, you’ll be well on your way to achieving your advertising goals. Optimizing your ad spend is a continuous process that requires ongoing analysis, adjustment, and testing. By following these best practices, you can maximize the effectiveness of your advertising campaigns and drive better results. Plus, if you get stuck, we’re always on hand to help!