To be able to measure the effects of marketing actions, you need to know what the Return on Investment (ROI) of each one is. This is what most marketing professionals want. According to Social Media Examiner, 88% of them want to know how to measure the ROI of their actions .
To perform the calculation, simply subtract the profit obtained from a given action from the investment made and divide the result by the investment. If the calculation is less than 1, it means that the company suffered a loss with the strategy adopted.
One of the main benefits of monitoring returns is knowing which practices are most helpful for the company to achieve its goals. The lower the return, the greater the chance that the budget is being implemented incorrectly.
However, just because a certain investment is profitable doesn’t medicare leads email list mean it’s the best option for your business. Here’s why.
Perform tests on campaigns
A performance digital marketing strategy will focus not only on profit, but also on the highest possible return with the lowest possible investment. To do this, campaigns must be tested to find ways to captivate users and convince them to do what the company wants.
Actions such as changing the language of communication, changing the colors of texts and headlines, and arranging items can bring consumers closer to conversion. However, tests should not be done randomly. Instead, they need to be carried out according to user behavior statistics on the brand's channels of operation.
What are the most common mistakes made when investing in digital marketing?
Many companies make the wrong investment in digital marketing. Could this be your case? Find out now if your business:
invests in stocks that are fashionable, but that are not necessarily part of the business objectives;
uses marketing tools that he doesn't master, but tries to learn along the way;
does not have a clear and well-defined digital marketing strategy, highlighting which steps must be followed to achieve the objectives set;
does not have qualified and experienced professionals in the channels through which the company communicates with consumers;
tries to carry out several actions at the same time, without evaluating which of them contribute most to business success and which provide a return on the investment made;
does not perform tests to understand how campaigns can have their results optimized;
thinks that having a lot of employees eliminates the need to use marketing tools;