Measuring Your Digital Marketing ROI – #WednesdayWisdom

Are you getting your money’s worth from your Digital Marketing budget?

Your digital marketing ROI (Return On Investment) is quite simply the amount of revenue your business receives, relative to how much you spend. It may sound obvious, but it is crucial that you take this into consideration at regular intervals throughout any digital marketing campaign.

Smart digital marketers will run thorough research prior to commencing any digital marketing campaign. They do this because they know that as soon as the campaign begins, the pressure is on to show the client that what they are doing is making a measurable difference.

There is always room for improvement and adjustment. Campaign performance is something that needs constant refinement and analysis and, in the early stages in particular, if solid time isn't invested to check performance and adjust things accordingly, then the long term feasibility of the campaign will be in question. And rightly so.

Using a qualified and proven digital marketing agency reduces the risk of failure (and loss of investment) for businesses who have no qualified internal resource, but are ambitious to compete online. There is no substitute for experience after all. At Big Red Digital, we take a vested interest in finding ways to drive a regular return for our clients – we do this from the very first time we speak to them! Our success depends on it. Often, people have an expectation of what they can afford to spend (though sometimes not), but more often than not, they have absolutely no idea of what to expect in return. We find ways to work this out and to forecast and agree targets before we commit to running a campaign.

Your digital agency should also be sharing written reports with you on a regular basis showing website traffic, acquisition data and conversion rates. These reports should also contain advice and recommendations on how you can help to improve or measure the performance of your site. They should also ask you to provide regular feedback on how successful you are in turning enquiries or online sales into profitable business. This is important because, they can see how many enquiries/sales they are generating for you through the campaign analytics, but only you can provide information on how valuable these are to your business.

If you are interested in running a digital marketing campaign for your business, give me a quick call and we can discuss what kind of ROI you can expect.

By Steven Blood