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Are You Accurately Tracking Your Marketing Efforts and ROI?

Are you accurately measuring your marketing ROI?

Whether you’re working with Rosewood or another marketing agency, you should read this blog from beginning to end.  We’re probably one of the only marketing agencies that will say this but, marketing is not something you should just keep dumping money into. Are you doing your part to measure your marketing ROI?

Most small businesses are running marketing strategies in some capacity.

  • Google Ads or BING Ads (Search Engine Marketing SEM),
  • Social Media Ads (Facebook Ads, Instagram Ads, LinkedIn Ads),
  • Organic Search Engine Optimization (SEO),
  • Video Marketing,
  • Backlinking campaigns,
  • PR Campaigns,
  • Radio,
  • Newspaper,
  • Periodicals,
  • Seminars,
  • Workshops,
  • etc.

No matter which one, you NEED to be tracking your ROI.

Online marketing makes it easy to measure TRAFFIC, but not necessarily CONVERSIONS.

Unless you are selling products via an online store, you can lose track of what happens from when someone visits your website or sees your ad, to if/when they actually convert into a customer.

The Solution? Get Back to Basics

This is where the onus is on you, the business owner.  We absolutely recommend that you have a client onboarding process in place that requires new clients to specify how they found you, or what made them ultimately convert. It’s as simple as asking them how they found you or having a short online survey that’s sent after initial contact or the first meeting.

Scenarios:

More than likely, it is a combination of marketing mediums:

  • Maybe their colleague mentioned you to them, they started doing some research about you, and then a few days/weeks later they see an ad and that’s what convinces them to call/visit you.
    • ROI came from Referrals x Google Ads (SEM)

 

  • Maybe they simply needed a quick solution, Googled you and saw your convincing Google Ad. They then went on your website and it established trust with them to reach out to you.
    • ROI came from Google Ads (SEM) x Website Content

 

  • Maybe it was solely a referral from a friend they trusted because of your excellent work.
    • ROI came from Referrals, Customer Retention & Nurturing

 

  • Perhaps they Googled a specific question, which your most recent article answered and showed up organically on the front page in Google Search Results.
    • ROI came from Organic SEO

Are You Using These Results to Improve Your Marketing Efforts and ROI?

Depending on what these results show, you should be tweaking your Marketing Campaigns to reflect them.

If your business is 90% referral based, think about how you can:

  • Improve your customer’s experience so they continue to refer you
  • Instate a referral program that rewards clients for their referrals
  • Create a Customer Retention and Nurturing campaign that keeps you top of mind and educates your existing clients on other services you provide. They may not need them but may know someone who does

In the coming weeks we’ll expand on the different marketing mediums that are available to small/medium businesses with Rosewood as your marketing partner. The great thing about us is that our plans are flexible. We meet with business owners quarterly to adjust their marketing strategy and make sure it reflects the data results and projections.

For more info & #inspo you can follow us on Facebook, Instagram and LinkedIn. And don’t forget to sign up for our monthly newsletter as well!

Deanna

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