Every brand promotion’s success depends on how much returns you get from the money you put in to, some call it Profit, some says return on investment (ROI). Digital Marketing Companies in Nagpur advices and guide their clients on this aspect, that how much their digital-marketing budgets should be in each of the various media channels, including email marketing, pay per click (PPC) advertising, search engine optimization (SEO), website improvements, social media, and radio and television. In other words, they help you know which channels provide the best return on investment (ROI).
With FY 2018-19 around the corner, new brand promotion strategies will be in the pipeline, hence to plan your marketing strategy and budget for 2018, an important first step is to calculate the ROI for each of the marketing channels. An Insite Digital Marketing Companies in Nagpur for measuring ROI of the following key digital-marketing channels:
- Email marketing–You can measure the value of your list-building efforts and, ultimately, the value of the conversions you drive from your emails – from opens to clicks to landing-page conversions.
- PPC advertising– PPC is so incredibly grounded in data that you can measure just about every aspect of it to determine exactly what you’re getting as a return. Some important ways to measure ROI for your PPC marketing efforts include:
- Using dedicated landing pages for your ads.
- Using call tracking on those PPC ad pages and making sure your analytics are solid. As a result, you’ll know exactly what you’re paying for the traffic, how much is converting, and what level of revenue is coming in.
- Calculate your cost of acquiring your leads, as well as the ROI from each of those leads.
- SEO– Calculating the ROI for your organization’s SEO compared to email marketing or PPC may not be easy, but you can begin by measuring historic website traffic, historic conversion, and historic revenue levels as a baseline. You also should determine the most critical key performance indicators (KPIs) for your organization’s digital-marketing efforts. For example, these could include sales, revenue, and/or newsletter signups.
With your web analytics tool (e.g., Google Analytics), you can easily set up goals to track exactly how many people are coming in from organic SEO and ultimately converting. As you see your organic website traffic increase, measure how much is converting against your KPI goals. In addition, be sure to determine the cost of acquisition. To do that, look at what you’re spending for SEO services versus the amount of conversion value you get from your increased organic traffic.
- Social-media marketing– Measuring the ROI for social-media marketing can be a lot more challenging since its results involve such intangibles as engagement, audience reach, and “buzz.” There are ways to track social-media success, however, including such measures as the number of fans, followers, page likes, retweets, repins, web mentions, and sales levels.
The following are also some free tools that are available to help measure your social-media ROI:
- Google Analytics Campaign Tracking
- Google link shortener
- Twitter Analytics
- Facebook Insights
At the end, when it comes to allocating marketing budget to various digital-marketing channels, there’s no one-size-fits-all answer. Hence consulting Digital Marketing Companies in Nagpur is a must to each organization. This will you understand – how prospects and customers engage with their brand and ultimately evaluating each digital-marketing channel options. Once the ROI is calculated for each digital-marketing channels, compare and make budget allocation decisions accordingly. Then, develop a sound strategy to manage and optimize each of those primary areas of marketing.