Connecting the Dots Between Marketing and ROI
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Marketing is the lifeblood of any company. Without a solid marketing plan, it can be difficult to attract customers, retain them, and stay competitive in an ever-changing marketplace. While many businesses know that marketing is essential and have some plan to implement it, if it is not created in a way that can measure ROI, the efforts are wasted. So, how can you connect the dots between your marketing plan and achieving the ROI you desire?
Always Set Tangible Goals
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The goal of any marketing project is to gain more customers and increase the profit of your business. Setting broad goals, such as simply generating leads, will leave you with an unmeasurable goal that will be hard to gauge the success or failure of. Set a tangible goal, such as a set number of qualified leads. Once you have achieved your goal, you can determine how you successfully got there and how you can continue to get the return you are looking for.
Measure Your Tactics
A vital component of determining the ROI from your marketing is measuring the marketing tactics you used. Using metrics and analyzing your marketing results is key to be able to refine your digital marketing methods and achieve the ROI that you need to achieve your business goals.
To measure your tactics, you will need to use tracking links to monitoring user behavior. You will be able to track how visitors are being referred to your site, how long they engage, and what content they are engaging with so that you can better tailor your marketing efforts to attract and convert your desired leads.
Research the Market
Even if you have been in an industry for years, markets continue to change and evolve. It is always important to stay on top of current movements and trends, or you will find yourself losing out to competitors. Start by finding out what it is your customers are looking for. What do they value? How do they interact with businesses online? What do they need to remain a customer? You can find out this information through focus groups and customer survey.
Keep Your Sales Social
When you perform sales actions through a social media platform or use it as a facilitator, you will be able to have trackable results that can help you to establish your sales ROI. Social media has more than 277 million users that may utilize social media as a way to influence their buying decisions. You can incorporate trackable links in your social media posts and ads that can provide you with a lead-generating report for your sales staff to follow up on. Marketing is vital for any company that wants to survive in the changing marketplace. With the internet becoming a significant influence in buying decisions, it is easy to see how digital marketing methods are an effective way to go. To make the most out of your digital marketing campaign, you need to stay on top of your metrics, research the market, and incorporate social media to better be able to track your ROI and achieve your company’s goals.
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