What to Expect when Hiring a Digital Marketing Agency
In the past, it was notoriously difficult to measure return on investment from online marketing efforts. Today, getting a handle on ROI tracking is more important than ever because marketers are expected to increase their budgets for social media in 2015, according to Newsfactor, citing data from a Salesforce study.
Marketers used to focus on campaigns rather than personalized materials, but a massive shift is underway as brands emphasize the customer experience. Where does ROI enter into the equation? The buyer’s journey needs to be consistent across all channels to drive conversions. As marketing gets more personal, mobile budgets are increasing as well because smartphones and tablets give brands the chance to have one-on-one interactions with potential customers in real time. Mobile and social media engagement are no longer an added benefit; they are a necessity for giving clients the kinds of experiences they want. In fact, the Salesforce report found there was a 48 percent increase in the number of marketers who have integrated mobile into their strategies in the past year.
As mobile and social media take off, marketers need better ways to measure ROI.
Improve ROI measurements for better overall results
Social media and mobile have caused dramatic changes in local digital marketing. Companies need to track ROI to ensure their campaigns are performing well or get rid of marketing methods that aren’t driving results. However, there is a severe learning curve in ROI assessment. Ninety percent of marketers around the world have never been trained to measure ROI, Business 2 Community stated, highlighting data from Fournaise Marketing Group. In addition, 80 percent struggle to demonstrate the impact of their efforts to upper management.
One of the issues with marketing ROI assessment is companies study the metrics that are easiest to track, not the ones that matter most. For example, clicks are easy to measure, but they don’t provide a strong indicator of the effectiveness of a campaign. It’s crucial to set clear goals for each campaign and create specific key performance indicators for it. The best KPIs go beyond just the outcome of the campaign. In addition, marketers can measure results across KPIs over time to get a real sense of how they are connecting with leads.
Some marketers get too wrapped up in studying different metrics, but you need to consider what they mean for the real results of your campaign. All data needs to be interpreted to be relevant.
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