Posted: February 23, 2017
Let’s face it. Gone are the days of pushing out a campaign, checking “Done” on your To-Do list, and patting yourself on the back because you were proud of your efforts. Modern marketing is all about the ROI. If our organizations are budgeting for PPC, search, and even traditional campaigns, being able to show some sort of return on investment is expected. Can you prove your campaigns measurably drove business?
As scary as this new accountability may seem, a positive side does exist. A) You’re not alone. 93% of Chief Marketing Officers say they feel increased pressure to deliver measurable return on investment (ROI), and B) ROI tools can actually make you BETTER at your job and make your team look amazing, which can lead to a bigger slice of the budget. Yay.
If you’re early in your efforts of tracking campaigns all the way to monetary return, here are a few simple tips to get started.
Track These Things.
Either through Google Analytics or something else, use the data you can get from your website to track:
a) Entry pages on your site – the first place people land
b) Time spent on site – an average is useful
c) Exit pages – the last page someone visits before leaving to go somewhere else can be very telling
d) Organic and Earned media stats around local search optimization and provider ratings, in particular
Pay Attention to These Metrics.
The next tool on your ROI belt is measurement, and there are two kinds that really matter – performance and effectiveness.
Performance measurement is key, because it allows you to pause or tweak campaigns that aren’t delivering the results you want in real-time. Say your bariatrics messaging doesn’t seem to be engaging enough candidates to meet your goals. Change it up, and look for improvements before you’ve blown your budget.
Beyond the vanity metrics of likes and impressions, you need insight into the search and social data that actually shows a path to actual conversion, like:
a) Click-throughs and conversions – are people seeing your landing pages and completing forms?
b) Which keywords matter – what does your ideal audience really care about?
c) Local search terminology – local marketing is where it’s at in search especially
d) Campaign performance – A/B testing is your friend
Once you have these data sources in place, you’re in business to begin connecting marketing to money, which is where effectiveness comes in.
Effectiveness is a bit trickier but just as important. You need the ability to track that initial engagement from performance – form fills, calls, signups, etc. – all the way through to an appointment or other billable outcome. If your campaigns are effective, you should see actual monetary ROI.
The final step in wrestling the most ROI out of your efforts is using what you learn along the way to improve. Even campaigns that perform poorly are an opportunity for growth. Learn why something didn’t work. Be flexible. Grow. These are the keys to success in the rapidly evolving digital space.
Want even more bang for your marketing bucks and more tools you can learn to grown your digital marketing skills? Download our free Digital Marketing Toolkit today.