The marketing plans and campaigns a business puts into motion relies on the basis they will, in turn, lead to an increase in sales, followers, engagement, subscribers, etc. Your ROI (return on investment) evaluates the success of an investment you make for your business, and in this case, your marketing. Every company should be confident in knowing the effectiveness of its advertising efforts. If you think your marketing efforts are going unnoticed, here are a few ways to check their performance.
Social media analytics
One of the most common ways to track your digital marketing efforts is to check your social media analytics. Reviewing your accounts’ data allows you to see any increase or decrease in engagement and followers as well as make a note of what posts are working and which ones aren’t. These analytics reveal what content your audience is most interested in and, in turn, can help you to devise a marketing plan around it or review if your current efforts are bringing positive results.
Website traffic / SEO
Checking your business’s website traffic and SEO results is another method of tracking your ROI. Your website will provide numerical data on the number of website visits, page clicks, and the time people spend on your pages. Also, it will tell you where in the world visitors are viewing your website. This data allows you to assess if your site has had an increase in traffic in relation to any new marketing efforts. It also provides you with knowledge of where the traffic is coming from, like Facebook, Instagram, newsletters, etc.
Talk to customers directly
A simple but effective method of reviewing the success of your marketing efforts is to ask customers where they heard about you. Through this, you can learn directly from your audience, which of your marketing channels is most effective. By keeping track of which methods of communication lead customers to your business, you can also determine which platforms are successful for different demographics. If customers of specific demographics are made aware of your business through a specific channel, then this gives you a better idea of how to market to that particular customer group.
If you use email campaigns to communicate with your client base, you can check to see if those emails are working. Email marketing platforms provide users with analytics for each campaign sent out. This provides you with email opens, link or page clicks, and unsubscribes as well as what devices your subscribers are viewing your email, what part of the world they are in, and what are the best times to send out your emails. With this data, you can curate your campaigns based on analytics from your previous emails and track what works best for your audience.
No business wants to be in the dark whether their efforts to increase awareness or sales are working. These four methods are a great start to reviewing the effectiveness of your marketing endeavors. At iBi, we have a few more tricks up our sleeves when it comes to tracking ROI. If you want to learn more ways to track and increase your ROI, visit our website to schedule your free consultation!