Framework for Aligning Digital Advertising Spend with ROI Benchmarks in Niche Markets

Authors

  • Omolola Temitope Kufile  Amazon Advertising, United States
  • Bisayo Oluwatosin Otokiti  Department of Business and Entrepreneurship, Kwara State University, Nigeria
  • Abiodun Yusuf Onifade  Independent Researcher, California, USA
  • Bisi Ogunwale  Independent Researcher, Canada
  • Chinelo Harriet Okolo  First Security Discount House (FSDH), Marina, Lagos state, Nigeria

Keywords:

Niche Markets, Digital Advertising, ROI Benchmarks, Media Optimization, Audience Targeting, Campaign Analytics

Abstract

Niche markets present unique challenges and opportunities for digital advertisers seeking to align spending with return on investment (ROI) benchmarks. Unlike mass markets, niche segments demand precise targeting, personalized messaging, and efficient media allocation strategies. This paper proposes a comprehensive framework to optimize digital advertising spend by aligning it with ROI benchmarks tailored to niche market dynamics. By synthesizing insights from econometrics, digital analytics, and strategic marketing, the study introduces a model that integrates channel-specific performance data, audience engagement metrics, and conversion attribution. The methodology incorporates multivariate regression, machine learning, and scenario analysis to evaluate spending effectiveness across search, social, display, and programmatic channels. Empirical validation using case data from high-tech B2B and premium lifestyle brands illustrates how the framework enhances budget allocation efficiency and performance accountability. Findings demonstrate that tailored ROI benchmarks in niche markets lead to significantly improved campaign outcomes, validating the necessity of specialized media strategies for high-value audience segments. The proposed framework equips marketers with actionable tools to navigate fragmented digital environments and maximize impact within constrained media budgets.

References

  1. J. O. Shiyanbola, J. O. Omisola, and G. O. Osho, “An Agile Workflow Management Framework for Industrial Operations: Migrating from Email-Based Systems to Visual JIRA-Kanban Platforms,” 2023, Online. Available: https://www.researchgate.net/profile/Joseph-Shiyanbola/publication/392027424_An_Agile_Workflow_Management_Framework_for_Industrial_Operations_Migrating_from_Email-Based_Systems_to_Visual_JIRA-Kanban_Platforms/links/6830e26c8a76251f22e63a24/An-Agile-Workflow-Management-Framework-for-Industrial-Operations-Migrating-from-Email-Based-Systems-to-Visual-JIRA-Kanban-Platforms.pdf
  2. J. Zabin and G. Brebach, Precision marketing: The new rules for attracting, retaining, and leveraging profitable customers. John Wiley & Sons, 2004. Online. Available: https://books.google.com/books?hl=en&lr=&id=hoya5L_WctQC&oi=fnd&pg=PR9&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=CcH1DYbIZd&sig=chLTAoOIBaIjaiL2-19gT0WeKeg
  3. N. J. Sam-Bulya, O. P. Oyeyemi, A. N. Igwe, K. F. Anjorin, and S. E. Ewim, “Integrating digital marketing strategies for enhanced FMCG SME supply chain resilience,” Int. J. Bus. Manag., vol. 12, no. 2, pp. 15–22, 2023.
  4. S. Tonkin, C. Whitmore, and J. Cutroni, Performance marketing with Google Analytics: Strategies and techniques for maximizing online ROI. John Wiley and Sons, 2011. Online. Available: https://books.google.com/books?hl=en&lr=&id=9Kb2MNcTKTMC&oi=fnd&pg=PA173&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=Z6ZNclnOWt&sig=iDkpDMGwqi20oRlD3zX7GgjaNNE
  5. N. J. Sam-Bulya, A. N. Igwe, O. P. Oyeyemi, K. F. Anjorin, and S. E. Ewim, “Impact of customer-centric marketing on FMCG supply chain efficiency and SME profitability,” Glob. J. Res. Multidiscip. Stud. Forthcom., 2023, Online. Available: https://scholar.google.com/scholar?cluster=15251156588141283934&hl=en&oi=scholarr
  6. G. H. Tanakinjal, “Digital Marketing and Cost Management for Improving Company Performance,” 2023, Online. Available: https://oer.ums.edu.my/handle/oer_source_files/2305
  7. I. Oyeyipo et al., “A Conceptual Framework for Transforming Corporate Finance Through Strategic Growth, Profitability, and Risk Optimization,” Int. J. Adv. Multidiscip. Res. Stud., vol. 3, no. 5, pp. 1527–1538, Oct. 2023, doi: 10.62225/2583049X.2023.3.5.3915.
  8. H. Taherdoost, “Digital Marketing,” in E-Business Essentials, in EAI/Springer Innovations in Communication and Computing. , Cham: Springer Nature Switzerland, 2023, pp. 205–236. doi: 10.1007/978-3-031-39626-7_9.
  9. O. J. Oteri, E. C. Onukwulu, A. N. Igwe, C. P.-M. Ewim, A. I. Ibeh, and A. Sobowale, “Artificial Intelligence in Product Pricing and Revenue Optimization: Leveraging Data-Driven Decision-Making,” Int. J. Multidiscip. Res. Growth Eval., vol. 4, no. 1, pp. 842–851, 2023, doi: 10.54660/.IJMRGE.2023.4.1-842-851.
  10. L. SP and M. ARUL, “Planting Profits: A Strategic Analysis Of Digital Eco-Advertising In Achieving Business Goals Among Agri-Foodpreneurs.,” J. Namib. Stud., vol. 38, 2023, Online. Available: https://search.ebscohost.com/login.aspx?direct=true&profile=ehost&scope=site&authtype=crawler&jrnl=18635954&AN=179302165&h=yTgaQfVPRxGu6nnlCCtnQCwXmuS4d1pSVY%2BbYA%2B6WC6cSwuddVPa243BLlzNpDaCJyVU69b1ykvcxzrVg%2FXPYg%3D%3D&crl=c
  11. E. C. Onukwulu, J. E. Fiemotongha, A. N. Igwe, and C. P.-M. Ewim, “Transforming supply chain logistics in oil and gas: best practices for optimizing efficiency and reducing operational costs,” J. Adv. Multidiscip. Res., vol. 2, no. 2, Art. no. 2, Aug. 2023.
  12. J. Sterne, Social media metrics: How to measure and optimize your marketing investment. John Wiley & Sons, 2010. Online. Available: https://books.google.com/books?hl=en&lr=&id=OkkZhB2Yw7IC&oi=fnd&pg=PT5&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=1Ih5xxKPC3&sig=Ocs-7f7xIKIgiTySUIDs3JXdbew
  13. E. C. Onukwulu, J. E. Fiemotongha, A. N. Igwe, and C. P. M. Ewim, “Mitigating market volatility: Advanced techniques for enhancing stability and profitability in energy commodities trading,” Int. J. Manag. Organ. Res., vol. 3, no. 1, pp. 131–148, 2023.
  14. R. Sinha, “A comparative analysis of traditional marketing vs digital marketing,” J. Manag. Res. Anal., vol. 5, no. 4, pp. 234–243, 2018.
  15. E. C. Onukwulu, J. E. Fiemotongha, A. N. Igwe, and C. P. M. Ewim, “Marketing strategies for enhancing brand visibility and sales growth in the petroleum sector: Case studies and key insights from industry leaders,” Int. J. Manag. Organ. Res., vol. 2, no. 1, pp. 74–86, 2023.
  16. M. Sheeraz, M. Sajid, Y. Mehmood, M. Irfan, and I. Tahir, “Brand awareness and digital marketing: measurement tools and data analytics for agricultural industry,” J. Arable Crops Mark., vol. 5, no. 1, pp. 37–50, 2023.
  17. E. C. Onukwulu, M. O. Agho, and N. L. Eyo-Udo, “Decentralized energy supply chain networks using blockchain and IoT,” Int. J. Sch. Res. Multidiscip. Stud., vol. 2, no. 2, pp. 066–085, 2023.
  18. K. Saxenaa and S. Mittalb, “An analytical study of digital advertising strategies and measuring their effectiveness,” Int. J. TRADE Commer.-IIARTC, 2019, Online. Available: https://www.academia.edu/download/60782501/IJTC_V8_N1_FINAL20191003-25050-l36tll.pdf#page=108
  19. O. M. Oluoha, A. Odeshina, O. Reis, F. Okpeke, V. Attipoe, and O. H. Orieno, “Optimizing Business Decision-Making with Advanced Data Analytics Techniques,” Iconic Res. Eng. J., vol. 6, no. 5, pp. 184–203, Dec. 2022.
  20. D. Ryan and C. Jones, The best digital marketing campaigns in the world: mastering the art of customer engagement. Kogan Page Publishers, 2011. Online. Available: https://books.google.com/books?hl=en&lr=&id=a4hNMPe1hC0C&oi=fnd&pg=PR4&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=R5HB4AHpvu&sig=f8i8lIp40BrEQwhBSO3O8_ityLM
  21. Oluchukwu Modesta Oluoha, Abisola Odeshina, Oluwatosin Reis, and Friday Okpeke, “Developing Compliance-Oriented Social Media Risk Management Models to Combat Identity Fraud and Cyber Threats | Request PDF,” ResearchGate, Apr. 2025, doi: 10.54660/.IJMRGE.2023.4.1.1055-1073.
  22. B. Rizvanović, “Optimizing Product-Market Fit: A Digital Marketing Approach for Performance Measurement,” PhD Thesis, Universidade NOVA de Lisboa (Portugal), 2023. Online. Available: https://search.proquest.com/openview/5236531e138d8c7dd44816476729b717/1?pq-origsite=gscholar&cbl=2026366&diss=y
  23. Oluchukwu Modesta Oluoha, Abisola Odeshina, Oluwatosin Reis, and Friday Okpeke, “Developing Compliance-Oriented Social Media Risk Management Models to Combat Identity Fraud and Cyber Threats | Request PDF,” ResearchGate, Apr. 2025, doi: 10.54660/.IJMRGE.2023.4.1.1055-1073.
  24. K. K. Ramachandran, “Evaluating ROI in digital marketing campaigns: metrics, measurement, and insights,” Int. J. Manag. IJM, vol. 14, no. 7, 2023, Online. Available: https://www.researchgate.net/profile/Ramachandran-K-K-3/publication/377598832_EVALUATING_ROI_IN_DIGITAL_MARKETING_CAMPAIGNS_METRICS_MEASUREMENT_AND_INSIGHTS/links/65c4d3001e1ec12eff7c0a34/EVALUATING-ROI-IN-DIGITAL-MARKETING-CAMPAIGNS-METRICS-MEASUREMENT-AND-INSIGHTS.pdf
  25. J. O. Ojadi, E. C. Onukwulu, C. S. Odionu, and O. A. Owulade, “Natural Language Processing for Climate Change Policy Analysis and Public Sentiment Prediction: A Data-Driven Approach to Sustainable Decision-Making,” vol. 7, no. 3, 2023.
  26. J. O. Ojadi, E. C. Onukwulu, C. S. Odionu, and O. A. Owulade, “Leveraging IoT and Deep Learning for Real-Time Carbon Footprint Monitoring and Optimization in Smart Cities and Industrial Zones,” vol. 6, no. 11, 2023.
  27. J. O. Ojadi, E. C. Onukwulu, C. S. Odionu, and O. A. Owulade, “AI-Driven Predictive Analytics for Carbon Emission Reduction in Industrial Manufacturing: A Machine Learning Approach to Sustainable Production,” Int. J. Multidiscip. Res. Growth Eval., vol. 4, no. 1, pp. 948–960, 2023, doi: 10.54660/.IJMRGE.2023.4.1.948-960.
  28. K. A. Quesenberry, Social media strategy: Marketing, advertising, and public relations in the consumer revolution. Rowman & Littlefield, 2020. Online. Available: https://books.google.com/books?hl=en&lr=&id=QWTyDwAAQBAJ&oi=fnd&pg=PR3&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=BuqmUnFItQ&sig=sFBz5qRRWNLa0sTpy_QDMJsgmC4
  29. J. C. Ogeawuchi, O. E. Akpe, A. A. Abayomi, O. A. Agboola, E. Ogbuefi, and S. Owoade, “Systematic Review of Advanced Data Governance Strategies for Securing Cloud-Based Data Warehouses and Pipelines,” Iconic Res. Eng. J., vol. 6, no. 1, pp. 784–794, Jul. 2022.
  30. G. Powell, S. Groves, and J. Dimos, ROI of Social Media: How to improve the return on your social marketing investment. John Wiley & Sons, 2011. Online. Available: https://books.google.com/books?hl=en&lr=&id=ptus_WL-Af8C&oi=fnd&pg=PT9&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=qkrZvSaUJD&sig=84g_MpDSfbFCcExDIouBVlEt7BQ
  31. E. Ogbuefi, A. C. Mgbame, O. E. Akpe, A. A. Abayomi, and O. O. Adeyelu, “Affordable Automation: Leveraging Cloud-Based BI Systems for SME Sustainability,” Iconic Res. Eng. J., vol. 5, no. 12, pp. 489–505, Jun. 2022.
  32. M. T. Pongsukvejkul and P. Prayong, “Effective media strategies for Shell Campaign,” Thammasat University. Journalism and Mass Communication, 2022. Online. Available: https://digital.library.tu.ac.th/tu_dc/digital/api/DownloadDigitalFile/dowload/193599
  33. NJ Sam-Bulya, OP Oyeyemi, AN Igwe, KF Anjorin, SE Ewim, “Omnichannel strategies and their effect on FMCG SME supply chain performance and market growth.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=JD3slFYAAAAJ&pagesize=80&citation_for_view=JD3slFYAAAAJ:P5F9QuxV20EC
  34. J. Plummer, S. D. Rappaport, T. Hall, and R. Barocci, The online advertising playbook: Proven strategies and tested tactics from the advertising research foundation. John Wiley & Sons, 2007. Online. Available: https://books.google.com/books?hl=en&lr=&id=x8zjTq2vWesC&oi=fnd&pg=PR5&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=_N45t5FSFp&sig=vaBngwzI0J0QhPbROzgytJ8fOro
  35. Julius Olatunde Omisola, Joseph Oluwasegun Shiyanbola, Grace Omotunde Osho, “A Process Automation Framework for Smart Inventory Control: Reducing Operational Waste through JIRA-Driven Workflow and Lean Practices.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=ZX-Rz3cAAAAJ&citation_for_view=ZX-Rz3cAAAAJ:eQOLeE2rZwMC
  36. A. E. Onasanya, O. Aroyewun, and R. Okonkwo, “A Research Paper on Digital Marketing Effectiveness Analysis: A Project Focused on Analyzing the Effectiveness of Various Digital Marketing Strategies for Small Businesses Through Data Analytics,” Help. Them Alloc. Their Mark. Budg. More Eff., 2022, Online. Available: https://www.researchgate.net/profile/Abosede-Onasanya/publication/377846146_Digital_Marketing_Effectiveness_Analysis_A_Project_Focused_on_Analyzing_the_Effectiveness_of_Various_Digital_Marketing_Strategies_for_Small_Businesses_Through_Data_Analytics/links/65bac87f79007454975236d0/Digital-Marketing-Effectiveness-Analysis-A-Project-Focused-on-Analyzing-the-Effectiveness-of-Various-Digital-Marketing-Strategies-for-Small-Businesses-Through-Data-Analytics.pdf
  37. A. C. Mgbame, O. E. Akpe, A. A. Abayomi, E. Ogbuefi, and O. O. Adeyelu, “Barriers and Enablers of BI Tool Implementation in Underserved SME Communities,” Iconic Res. Eng. J., vol. 3, no. 7, pp. 211–226, Jan. 2020.
  38. P. E. Omorogbe, “Improving Digital Marketing Strategy: The Impact of Digital Analytics,” 2023, Online. Available: https://www.theseus.fi/handle/10024/803981
  39. N. J. Isibor, C. Paul-Mikki Ewim, A. I. Ibeh, E. M. Adaga, N. J. Sam-Bulya, and G. O. Achumie, “A Generalizable Social Media Utilization Framework for Entrepreneurs: Enhancing Digital Branding, Customer Engagement, and Growth,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 751–758, 2021, doi: 10.54660/.IJMRGE.2021.2.1.751-758.
  40. I. Okonkwo, J. Mujinga, E. Namkoisse, and A. Francisco, “Localization and global marketing: Adapting digital strategies for diverse audiences,” J. Digit. Mark. Commun., vol. 3, no. 2, pp. 66–80, 2023.
  41. O. Ilori, C. I. Lawal, S. C. Friday, N. J. Isibor, and E. C. Chukwuma- Eke, “A Framework for Environmental, Social, and Governance (ESG) Auditing: Bridging Gaps in Global Reporting Standards,” Int. J. Soc. Sci. Except. Res., vol. 2, no. 1, pp. 231–248, 2023, doi: 10.54660/IJSSER.2023.2.1.231-248.
  42. O. Moses, “The Impact of Automation-Driven Performance Max Campaign Smart Bidding Strattegis and Tenscore Third-Party Marketing Automation Tool on Conversion Roas and Other KPIs in Google ADS PPC Management,” Master’s Thesis, Universidade NOVA de Lisboa (Portugal), 2023. Online. Available: https://search.proquest.com/openview/a7176391194a94befc462c5906f62800/1?pq-origsite=gscholar&cbl=2026366&diss=y
  43. O. O. George, R. E. Dosumu, and C. O. Makata, “Integrating Multi-Channel Brand Communication: A Conceptual Model for Achieving Sustained Consumer Engagement and Loyalty,” Int. J. Manag. Organ. Res., vol. 2, no. 1, pp. 254–260, 2023, doi: 10.54660/IJMOR.2023.2.1.254-260.
  44. D. Mitra and M. Singh, Marketing Analytics: A Key to Market Success. Shineeks Publishers, 2023. Online. Available: https://books.google.com/books?hl=en&lr=&id=2RLwEAAAQBAJ&oi=fnd&pg=PR8&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=VyQ8y3R4-S&sig=yDdYUixwGVrwSpbjgPF0iF7LvpI
  45. Ezinne C. Chukwuma-Eke, Verlinda Attipoe, Comfort Iyabode Lawal, Solomon Christopher Friday, Ngozi Joan Isibor, Abiola Oyeronke Akintobi, “Innovative Financial Instruments for Scaling Renewable Energy Projects: A Focus on Impact Investments for SMEs in the Energy Sector.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=Zm0csPMAAAAJ&authuser=1&citation_for_view=Zm0csPMAAAAJ:_FxGoFyzp5QC
  46. 6E. Mardiani, E. Y. Utami, and M. U. F. Mujahid, “B2B Digital Marketing and ROI Measurement: Challenges and Opportunities in the Business-to-Business Industry for MSMEs in Indonesia”, Online. Available: https://pdfs.semanticscholar.org/bc13/f18505dbb36388fdba91809df43a9d9bded2.pdf
  47. A. Farooq, A. B. N. Abbey, and E. C. Onukwulu, “Optimizing Grocery Quality and Supply Chain Efficiency Using AI-Driven Predictive Logistics,” vol. 7, no. 1, 2023.
  48. S. Lahdensuo, “Profitability in digital marketing,” 2018, Online. Available: https://lutpub.lut.fi/handle/10024/158712
  49. Ezinne C Chukwuma-Eke, Olakojo Yusuff Ogunsola, Ngozi Joan Isibor, “A Conceptual Framework for Ensuring Financial Transparency in Joint Venture Operations in the Energy Sector.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=sJAYP0YAAAAJ&cstart=20&pagesize=80&citation_for_view=sJAYP0YAAAAJ:_FxGoFyzp5QC
  50. M. Krasniak, J. Zimmerman, and D. Ng, Social media marketing all-in-one for dummies. John Wiley & Sons, 2021. Online. Available: https://books.google.com/books?hl=en&lr=&id=KTkgEAAAQBAJ&oi=fnd&pg=PA3&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=6UX_JZkHAg&sig=X_l57Rjf721hAV-ohsioEEs7VRU
  51. O. J. Esan, O. T. Uzozie, O. Onaghinor, G. O. Osho, and J. O. Omisola, “Leading with Lean Six Sigma and RPA in High-Volume Distribution: A Comprehensive Framework for Operational Excellence,” Int. J. Multidiscip. Res. Growth Eval., vol. 4, no. 1, pp. 1158–1164, 2023, doi: 10.54660/.IJMRGE.2023.4.1.1158-1164.
  52. Ö. D. Kan, “Return on investment of social media marketing,” PhD Thesis, İstanbul Bilgi üniversitesi, 2017. Online. Available: https://openaccess.bilgi.edu.tr/bitstream/handle/11411/1282/Return%20on%20investment%20of%20social%20media%20marketing.pdf?sequence=1
  53. Ekene Cynthia Onukwulu, Mercy Odochi Agho, and Nsisong Louis Eyo-Udo, “Sustainable supply chain practices to reduce carbon footprint in oil and gas,” Glob. J. Res. Multidiscip. Stud., vol. 1, no. 2, pp. 024–043, Dec. 2023, doi: 10.58175/gjrms.2023.1.2.0044.
  54. C. Juthasopon and P. Prayong, “Digital Media Planning Process and Strategies: The Case Study of Adapter digital agency,” Thammasat University. Journalism and Mass Communication, 2022. Online. Available: https://digital.library.tu.ac.th/tu_dc/digital/api/DownloadDigitalFile/dowload/193600
  55. Ekene Cynthia Onukwulu, Mercy Odochi Agho, and Nsisong Louis Eyo-Udo, “Developing a framework for supply chain resilience in renewable energy operations,” Glob. J. Res. Sci. Technol., vol. 1, no. 2, pp. 001–018, Dec. 2023, doi: 10.58175/gjrst.2023.1.2.0048.
  56. D. Jayaram, A. K. Manrai, and L. A. Manrai, “Effective use of marketing technology in Eastern Europe: Web analytics, social media, customer analytics, digital campaigns and mobile applications,” J. Econ. Finance Adm. Sci., vol. 20, no. 39, pp. 118–132, 2015.
  57. Ekene Cynthia Onukwulu, Mercy Odochi Agho, and Nsisong Louis Eyo-Udo, “Developing a framework for AI-driven optimization of supply chains in energy sector,” Glob. J. Adv. Res. Rev., vol. 1, no. 2, pp. 082–101, Dec. 2023, doi: 10.58175/gjarr.2023.1.2.0064.
  58. A. ILYAS, “DESIGN OF A SOCIAL MEDIA MARKETING CAMPAIGN MANAGER,” 2020, Online. Available: https://trepo.tuni.fi/bitstream/handle/10024/121167/IlyasAdil.pdf?sequence=2
  59. Ekene Cynthia Onukwulu, Mercy Odochi Agho, and Nsisong Louis Eyo-Udo, “Developing a framework for predictive analytics in mitigating energy supply chain risks,” Int. J. Sch. Res. Rev., vol. 2, no. 2, pp. 135–155, Jun. 2023, doi: 10.56781/ijsrr.2023.2.2.0042.
  60. A. Hämäläinen, “Measuring the performance of influencer marketing campaigns: objectives and performance metrics,” 2021, Online. Available: https://lutpub.lut.fi/handle/10024/163593
  61. J. O. Basiru, C. L. Ejiofor, E. C. Onukwulu, and U. Attah, “Corporate Health and Safety Protocols: A Conceptual Model for Ensuring Sustainability in Global Operations,” vol. 6, no. 8, 2023.
  62. EC Onukwulu, JE Fiemotongha, AN Igwe, CPM Ewim, “The evolution of risk management practices in global oil markets: Challenges and opportunities for modern traders.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=JD3slFYAAAAJ&pagesize=80&citation_for_view=JD3slFYAAAAJ:UxriW0iASnsC
  63. M. Hafez, “Pioneering Perspectives: Strategies and Considerations in Market Segmentation and Targeting,” Available SSRN, 2023, Online. Available: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4802226
  64. E. C. Chukwuma-Eke, O. Y. Ogunsola, and N. J. Isibor, “Conceptualizing digital financial tools and strategies for effective budget management in the oil and gas sector,” Int. J. Manag. Organ. Res., vol. 2, no. 1, pp. 230–246, 2023.
  65. A. Al Adwan, H. Kokash, R. Al Adwan, and A. Khattak, “Data analytics in digital marketing for tracking the effectiveness of campaigns and inform strategy,” Int. J. Data Netw. Sci., 2023, Online. Available: https://eresearch.qmu.ac.uk/handle/20.500.12289/13145
  66. J. O. Basiru, C. L. Ejiofor, E. C. Onukwulu, and R. U. Attah, “Enhancing Financial Reporting Systems: A Conceptual Framework for Integrating Data Analytics in Business Decision-Making,” vol. 7, no. 4, 2024.
  67. 7J. O. Basiru, C. L. Ejiofor, E. C. Onukwulu, and R. U. Attah, “Optimizing Administrative Operations: A Conceptual Framework for Strategic Resource Management in Corporate Settings,” Int. J. Multidiscip. Res. Growth Eval., vol. 4, no. 1, pp. 760–773, 2023, doi: 10.54660/.IJMRGE.2023.4.1.760-773.
  68. R. Bajaj, “Best Practices of Programmatic Advertising: A Narrative Analysis.,” Optim. J. Res. Manag., vol. 15, no. 2, 2023, Online. Available: https://www.glbimr.ac.in/pages/OJRM-15-2/Chap4%20Vol.%2015(2)%20July-December%202023.pdf
  69. D. C. Ayodeji, I. Oyeyipo, V. Attipoe, N. J. Isibor, and B. A. Mayienga, “Analyzing the Challenges and Opportunities of Integrating Cryptocurrencies into Regulated Financial Markets,” Int. J. Multidiscip. Res. Growth Eval., vol. 4, no. 6, pp. 1190–1196, 2023, doi: 10.54660/.IJMRGE.2023.4.6.1190-1196.
  70. Z. F. Bakri, “Analyzing the influence of digital marketing strategies on business performance in the beauty industry: a comprehensive analysis of social media engagement and influencer collaborations,” J. Econ. Manag. Bus. Technol., vol. 2, no. 1, pp. 37–48, 2023.
  71. O. Awoyemi, R. U. Attah, J. O. Basiru, and I. M. Leghemo, “A Technology Integration Blueprint for Overcoming Digital Literacy Barriers in Developing World Educational Systems,” Iconic Res. Eng. J., vol. 7, no. 3, pp. 722–730, Sep. 2023.
  72. E. Barannikova, “DIGITAL MARKETING STRATEGY DEVELOPMENT FOR SUMASHOP,” 2023, Online. Available: https://www.theseus.fi/handle/10024/806912
  73. A. A. Abayomi, A. C. Mgbame, O. E. Akpe, E. Ogbuefi, and O. O. Adeyelu, “Advancing Equity Through Technology: Inclusive Design of BI Platforms for Small Businesses,” Iconic Res. Eng. J., vol. 5, no. 4, pp. 235–250, Oct. 2021.
  74. B. Basal, “On-line media planning and on-line media common measurement currencies,” in Advertising and Branding: Concepts, Methodologies, Tools, and Applications, IGI Global, 2017, pp. 866–886. Online. Available: https://www.igi-global.com/chapter/on-line-media-planning-and-on-line-media-common-measurement-currencies/175254
  75. A. A. Abayomi, B. C. Ubanadu, A. I. Daraojimba, O. A. Agboola, E. Ogbuefi, and S. Owoade, “A Conceptual Framework for Real-Time Data Analytics and Decision-Making in Cloud-Optimized Business Intelligence Systems,” Iconic Res. Eng. J., vol. 5, no. 9, pp. 713–722, Mar. 2022.
  76. T. Bauer, T. Freundt, J. Gordon, J. Perrey, and D. Spillecke, Marketing Performance: How marketers drive profitable growth. John Wiley & Sons, 2016. Online. Available: https://books.google.com/books?hl=en&lr=&id=SbEyDAAAQBAJ&oi=fnd&pg=PR7&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=zcxvzK99ja&sig=4R7M5QS3nV1UEXckPtBzU_qpIQM
  77. A. Abisoye, “AI Literacy in STEM Education: Policy Strategies for Preparing the Future Workforce,” J. Front. Multidiscip. Res., vol. 4, no. 1, pp. 17–24, 2023, doi: 10.54660/JFMR.2023.4.1.17-24.
  78. Q. Björnfot and M. Dehlin, “Comparing the Return on Investment of Search Engine Optimization and Pay-Per-Click marketing: Developing a model to forecast the ROI of SEO based on the SOSTAC Planning System.” 2023. Online. Available: https://www.diva-portal.org/smash/get/diva2:1799554/FULLTEXT01.pdf
  79. Adesemoye O.E., Chukwuma-Eke E.C., Lawal C.I., Isibor N.J., Akintobi A.O., Ezeh F.S., “A Conceptual Framework for Integrating Data Visualization into Financial Decision- Making for Lending Institutions.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=Zm0csPMAAAAJ&authuser=1&citation_for_view=Zm0csPMAAAAJ:hqOjcs7Dif8C
  80. Adesemoye O.E., Chukwuma-Eke E.C., Lawal C.I., Isibor N.J., Akintobi A.O., Ezeh F.S., “Optimizing SME Banking with Data Analytics for Economic Growth and Job Creation.” Online. Available: https://scholar.google.com/citations?view_op=view_citation&hl=en&user=Zm0csPMAAAAJ&authuser=1&citation_for_view=Zm0csPMAAAAJ:WF5omc3nYNoC
  81. E. Botton, “Social Media, SEO and Google Ads in Digital Marketing Strategy: A Case Study on EcorNaturaSì,” 2018, Online. Available: https://unitesi.unive.it/handle/20.500.14247/18812
  82. O. E. Akpe, J. C. Ogeawuchi, A. A. Abayomi, and O. A. Agboola, “Advances in Stakeholder-Centric Product Lifecycle Management for Complex, Multi-Stakeholder Energy Program Ecosystems,” Iconic Res. Eng. J., vol. 4, no. 8, pp. 179–188, Feb. 2021.
  83. D. Chaffey and P. R. Smith, eMarketing eXcellence: Planning and optimizing your digital marketing. Routledge, 2013. Online. Available: https://www.taylorfrancis.com/books/mono/10.4324/9780203082812/emarketing-excellence-dave-chaffey-pr-smith
  84. Anate Benoit Nicaise Abbey, Iyadunni Adewola Olaleye, Chukwunweike Mokogwu, Amarachi Queen Olufemi-Phillips, and Titilope Tosin Adewale, “Developing economic frameworks for optimizing procurement strategies in public and private sectors,” Int. J. Frontline Res. Multidiscip. Stud., vol. 2, no. 1, pp. 019–026, Dec. 2023, doi: 10.56355/ijfrms.2023.2.1.0033.
  85. D. Chaffey and P. R. Smith, Digital marketing excellence: planning, optimizing and integrating online marketing. Routledge, 2022. Online. Available: https://www.taylorfrancis.com/books/mono/10.4324/9781003009498/digital-marketing-excellence-dave-chaffey-pr-smith
  86. A. Aagaard and F. Rezac, “Governing the interplay of inter-organizational relationship mechanisms in open innovation projects across ecosystems,” Ind. Mark. Manag., vol. 105, pp. 131–146, Aug. 2022, doi: 10.1016/j.indmarman.2022.06.003.
  87. A. Charan, Marketing Analytics Practitioner’s Guide, The-Volume 3: Digital Marketing. World Scientific, 2023. Online. Available: https://books.google.com/books?hl=en&lr=&id=fVjcEAAAQBAJ&oi=fnd&pg=PR7&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=W_2cS_5DrL&sig=tRpUnSLfP36mZVQGKcX_TVFa0c4
  88. A. Abisoye, “AI Literacy in STEM Education: Policy Strategies for Preparing the Future Workforce,” J. Front. Multidiscip. Res., vol. 4, no. 1, pp. 17–24, 2023, doi: 10.54660/JFMR.2023.4.1.17-24.
  89. R. Cioffi, “DATA-DRIVEN MARKETING: Strategies, metrics and infrastructures to optimize the marketing performances,” PhD Thesis, Politecnico di Torino, 2019. Online. Available: https://webthesis.biblio.polito.it/10493/
  90. A. Abisoye and J. I. Akerele, “A High-Impact Data-Driven Decision-Making Model for Integrating Cutting-Edge Cybersecurity Strategies into Public Policy, Governance, and Organizational Frameworks,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 623–637, 2021, doi: 10.54660/.IJMRGE.2021.2.1.623-637.
  91. S. Diamond, Digital marketing all-in-one for dummies. John Wiley & Sons, 2023. Online. Available: https://books.google.com/books?hl=en&lr=&id=MyqdEAAAQBAJ&oi=fnd&pg=PA3&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=iiSPHERjNA&sig=SSox6ZcboZP0xSjw-kgs3FVZkx8
  92. B. I. Adekunle, E. C. Chukwuma-Eke, E. D. Balogun, and K. O. Ogunsola, “A Predictive Modeling Approach to Optimizing Business Operations: A Case Study on Reducing Operational Inefficiencies through Machine Learning,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 791–799, 2021, doi: 10.54660/.IJMRGE.2021.2.1.791-799.
  93. G. Dietrich and G. Livingston, Marketing in the round: how to develop an integrated marketing campaign in the digital era. Que Publishing, 2012. Online. Available: https://books.google.com/books?hl=en&lr=&id=gGgcSSr4d1IC&oi=fnd&pg=PT22&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=uawKYIH6_l&sig=pl7NCyiEOEHwZN36R_LQJo28IA0
  94. D. I. Ajiga, “Strategic Framework for Leveraging Artificial Intelligence to Improve Financial Reporting Accuracy and Restore Public Trust,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 882–892, 2021, doi: 10.54660/.IJMRGE.2021.2.1.882-892.
  95. I. Dodson, The art of digital marketing: the definitive guide to creating strategic, targeted, and measurable online campaigns. John Wiley & Sons, 2016. Online. Available: https://books.google.com/books?hl=en&lr=&id=k6vBCwAAQBAJ&oi=fnd&pg=PR1&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=d0Wym35GgC&sig=EPiKm-P6x3utJ-AgKC0XwUVgP3Y
  96. A. H. Adepoju, A. Eweje, A. Collins, and O. Hamza, “Developing strategic roadmaps for data-driven organizations: A model for aligning projects with business goals,” Int. J. Multidiscip. Res. Growth Eval., vol. 4, no. 6, pp. 1128–1140, 2023, doi: 10.54660/.IJMRGE.2023.4.6.1128-1140.
  97. L. Duke and A. Ashraf, “Aligning Analytics with Marketing Strategy: Using Analytics to Drive Marketing Strategy with New Media Applications,” in Aligning Business Strategies and Analytics, vol. 1, M. Anandarajan and T. D. Harrison, Eds., in Advances in Analytics and Data Science, vol. 1. , Cham: Springer International Publishing, 2019, pp. 177–194. doi: 10.1007/978-3-319-93299-6_11.
  98. M. Finch and W. Breaks, “Campaign planning for digital media,” Internet Mark. Strategy Implement. Pract., vol. 1009, p. 445, 2009.
  99. E. D. Balogun, K. O. Ogunsola, and A. S. Ogunmokun, “Blockchain-Enabled Auditing: A Conceptual Model for Financial Transparency, Regulatory Compliance, and Security,” vol. 6, no. 10, 2023.
  100. T. Funk, Advanced social media marketing: How to lead, launch, and manage a successful social media program. Apress, 2014. Online. Available: https://books.google.com/books?hl=en&lr=&id=TUCB9orB7zUC&oi=fnd&pg=PA1&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=svJEsSvVe7&sig=uoArIslVmkSUusenGT-k2qviSB4
  101. A. Gonçalves, Social media analytics strategy: Using data to optimize business performance. Apress, 2017. Online. Available: https://books.google.com/books?hl=en&lr=&id=Dq4-DwAAQBAJ&oi=fnd&pg=PP6&dq=Niche+markets,+digital+advertising,+ROI+benchmarks,+media+optimization,+audience+targeting,+campaign+analytics&ots=UgwcWdAuQY&sig=gEvkVMjgs17MzoqkY9U4_JfIegk
  102. O. Artun and D. Levin, Predictive marketing: Easy ways every marketer can use customer analytics and big data. John Wiley & Sons, 2015. Online. Available: https://books.google.com/books?hl=en&lr=&id=yfk-CgAAQBAJ&oi=fnd&pg=PR9&dq=Brand+awareness,+lead+quality,+predictive+modeling,+media+mix+optimization,+omnichannel+marketing,+marketing+analytics&ots=yqP4dMxH2z&sig=h8nuxehxnYFjv71Yf0swkelG5hk
  103. D. Chaffey and P. R. Smith, Digital marketing excellence: planning, optimizing and integrating online marketing. Routledge, 2022. Accessed: Jun. 01, 2025. Online. Available: https://www.taylorfrancis.com/books/mono/10.4324/9781003009498/digital-marketing-excellence-dave-chaffey-pr-smith
  104. B. Z. Avşar, “Effect of product portfolio on perceived value and brand loyalty of omni-channel users in B2C web sites,” 2021, Accessed: Jun. 01, 2025. Online. Available: https://acikerisim.ticaret.edu.tr/items/e768a70e-c7c4-46b5-9c54-922a0bd0afb6
  105. E. O. Alonge, N. L. Eyo-Udo, B. C. Ubanadu, A. I. Daraojimba, E. D. Balogun, and K. O. Ogunsola, “Data-Driven Risk Management in U.S. Financial Institutions: A Theoretical Perspective on Process Optimization,” vol. 6, no. 7, 2023.
  106. E. C. Chukwuma-Eke, O. Y. Ogunsola, and N. J. Isibor, “A Conceptual Framework for Financial Optimization and Budget Management in Large-Scale Energy Projects,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 823–834, 2021, doi: 10.54660/.IJMRGE.2021.2.1.823-834.

International Journal of Scientific Research in Science and Technology

Downloads

Published

2023-02-09

Issue

Volume 10, Issue 1, January-February-2023

Section

Research Articles

License

Copyright (c) IJSRST

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

[1]
Omolola Temitope Kufile, Bisayo Oluwatosin Otokiti, Abiodun Yusuf Onifade, Bisi Ogunwale, Chinelo Harriet Okolo "Framework for Aligning Digital Advertising Spend with ROI Benchmarks in Niche Markets " International Journal of Scientific Research in Science and Technology(IJSRST), Online ISSN : 2395-602X, Print ISSN : 2395-6011,Volume 10, Issue 1, pp.811-829, January-February-2023.