It’s all a numbers game and in order to achieve optimal success with your marketing efforts, it’s important to measure ROI.
But marketing data tends to be quite qualitative… so what’s a digital marketer to do?
That’s where we come in! Rather, that’s where this blog post comes in. We’re going to show you how to measure marketing ROI once and for all!
Keep reading to learn how you can make the most of your marketing campaigns and achieve maximum ROI…
1. Take a look at your content marketing campaigns
If you’re using competent programs to launch your current content marketing campaigns (i.e. a marketing automation platform like Net-Results, Meta for paid FB/IG ads, Google Ads, organic social media scheduling platforms like eClincher, etc.), this should be fairly simple.
The data provided in all of these platforms allow you to make subsequent data-driven and informed decisions when it comes to content marketing campaigns.
When it comes to content, it’s fairly easy to calculate and measure ROI. If you’re currently not measuring the ROI of your marketing efforts, content is a great place to start as it’s relatively simple.
2. Check your traffic sources
How are people finding you? What traffic sources are leading to the best (and most) deals?
You’ll have to get real honest with yourself here. Sure, you may have poured your heart and soul into your organic social media campaigns, but what if they’re failing to provide any traffic?
Take a look at Google Analytics, assess your traffic sources, and decide for yourself what is and isn’t working.
By making data-driven marketing decisions, you can allocate more money and time to what’s working and let go of what isn’t. There’s absolutely no shame in admitting when something isn’t working. There is, however, a problem if you’re wasting valuable time, effort, and money on content that isn’t proving ROI.
3. Establish your KPIs (and reassess as needed)
Key performance indicators are going to vary from organization to organization, so first things first, establish your KPIs and make sure all relevant parties are on the same page.
If you need some help deciding on which KPIs matter most to you and your team, check out “5 Important KPIs for Digital Marketing” — one of our most popular blog posts. ‘
It’s difficult (rather, impossible) to calculate the ROI of your marketing efforts if you don’t know what data matters.
So before you make any drastic decisions, get together with your team and determine what KPIs matter most so you can formulate a plan for calculating ROI based on your unique KPIs.
4. Lean on customer research
Sometimes it’s best to go straight to the source.
Finding out and recording how your current customers found you is a fantastic way to assess and analyze what is, and what isn’t, working.
Did 80% of your current customers find you via paid social media ads? Awesome! The ROI of those marketing efforts is likely pretty damn good. Why not beef up your PPC budget to win even more awesome customers?
Did only 1% find you via your podcast advertising efforts that you spend a pretty penny on? Well…maybe the ROI of that initiative is less than stellar.
See what has been and what is currently working to bring in customers and clients. This is one of the best ways to calculate and visualize the ROI of your marketing efforts.
5. Invest in marketing automation
Marketing automation is truly one of the best and most cost-effective ways to calculate marketing ROI.
Need to convince your boss to purchase marketing automation? Want to better understand the ROI of marketing automation? This free resource is a great starting point!
Marketing automation (specifically, Net-Results Marketing Automation) is a robust, powerful system that gives you real-time metrics and data that allow you to make better marketing decisions each and every day.
If you want to completely understand the ROI of your marketing efforts, look no further than marketing automation. According to the latest G2 Report, 95% of Net-Results customers report achieving positive ROI in 12 months or less so…😉
If you have any questions or concerns about marketing ROI or marketing automation, don’t hesitate to schedule a quick, no-commitment, 20-minute chat with our team.
We’ll be more than happy to help you out!
Cheers to your success,
Marketing @ Net-Results