This article provides a very simple overview of why you should measure all of your marketing activities to deliver better ROI. It discusses how you can add simple things to better test your online marketing and provides simple examples on how you may test various offline marketing activities.
Business owners, CFOs, CMOs
Why should they read it?
To learn how they might measure and thus increase their ROI on their advertising spend.
How much do you currently spend per month on marketing?
What return do you get on that spend?
Which of your marketing efforts returns the best percentage total ROI? Percentage ROI?
If you know the answer to the 3 questions above (in numbers not platitudes) then read no more.
You are a star and a winner and you will no doubt go a long way in business if you are not already there.
Digital Marketing Is The Easiest to Measure
Let’s start by playing at home as opposed to away. We all know digital marketing is the easiest to measure.
You spend A on content creation and syndication to draw organic traffic.
You spend B on Paid Marketing such as Adwords and Bing.
You get C number of leads from your website and your landing pages.
This leads to D sales with E revenue and F profit.
Or for those that love using Excel spreadsheets;-
E – (A + B) = F
And you keep trying to increase the value of F.
How People Get This First One Wrong
But Kirk – you said this was simple and it certainly looks simple!
How are we getting it wrong?
Do you know which phone calls come from your website and how many of them there are?
If you are using your normal business number on your website chances are you do not.
What you fail to measure you may also fail to improve.
Have you considered using a unique phone number for your web properties? Say a 1300 number.
It is inexpensive and will allow you to know when someone calls your business because they have seen your website.
This is simply a start.
If you send out an email to your client list do you include a unique URL so when they click back to your website that you know that this click came from your email newsletter / offer?
Do you send forms on different pages of your website to unique pages following submission so you can monitor which pages on your site are converting better than others?
There are so many more simple tricks you can deploy to get a far more accurate handle on what works for you online and what isn’t.
Digital Marketing is all about continuous improvement, month on month, year on year….
That May Be OK For Digital But How Can I Measure My Traditional Offline Marketing?
Have any of you ever watched a TV advertisement where a website URL was provided to check out the latest deal.
It may look something like this if done correctly;-
www.mycompany.com.au/tv-offer
The advertiser is sending traffic from this advertisement to a specific page on their website.
They will monitor the traffic to this page and if they are smart they will measure the conversion rate of the page as well.
Then they will try and improve both.
Doing radio advertising?
You can also provide a unique page on your website for that traffic or, if you prefer a phone number then a unique 1300 number.
You can even tell what days of the week and time of the day during which your adds perform better.
It can all be setup and measured if you desire to know and, if you know, then you can improve.
Leaflets. Mail drops etc etc.
Similar tactics can be deployed.
Summary – The Bottom Line
We have only listed the tip of the iceberg above showing some simple but nevertheless workable solutions.
There are many more tactics and more complex ones as well that can be applied to your business to get the best Marketing ROI.
The challenge is to do as much of this as possible so you can measure and improve, measure and improve, measure and improve……
It is a journey that starts with a single step.
Look up at the top right of our website now and give us a call on our unique 1300 number…
