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Measure ROI of digital marketing strategy

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Measure ROI of digital marketing strategy

According to the report ” State of Inbound 2018 in Latin America “, one of the main priorities (31%) of companies in 2019 is precisely to measure the ROI of the digital marketing strategy, as well as to obtain a greater return with a limited budget . (If you are not very familiar with inbound, we leave you this video that explains the basics).The ROI (Return On Investment or Return on Investment) basically indicates the benefit obtained from an investment; It is a necessary metric to evaluate strategies, measure their economic performance and consider their continuation or improvement.

If measuring ROI is indispensable for marketing, now imagine its importance in digital marketing .”Although they do not recognize it, many companies are wondering not only how to measure the ROI of the digital marketing strategy, but what exactly it is and how much it should count within the strategies,” says Carolina Samsing, Marketing Director for Latin America at HubSpot .Measuring the ROI of the digital marketing strategy is essential to know the success of your efforts and correct the course if necessary. Unfortunately, in the midst of the whirlwind of following trends and trying “trendy” tools is one of the activities that is frequently sacrificed, and it is a huge mistake.

If we invest in Facebook or Google ads , if we put money into creating content, if we launch a digital campaign, it is essential to measure ROI, even at levels that allow us to know the cost per action … how much Slovenia Phone Number List did each click, each visit, every lead, every conversion, every customer.In this sense, the basic elements that help to measure the ROI of the digital marketing strategy are: the volume of traffic, the conversion percentage, the number of potential customers, the closing percentage and the number of customers.That is, you are earning 200% of the money invested; In other words: for every dollar, two dollars are being generated.“Today, demonstrating ROI has become not just a challenge, but a requirement if the goal is to convert more customers and generate more revenue from existing customers. That is why companies have to go further, be able to measure and demonstrate ROI in a systematic way so that organizations are up to date with new challenges, ” added Samsing.
Measuring the ROI of your digital marketing strategy helps you …

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Understand what’s working and what’s not: If you don’t measure ROI, it’s doubly difficult to determine which priorities or campaigns are working. What is the point of having spent on website optimization if, for example, the traffic has not increased?
Calculate the cost per acquisition: Another benefit Doctors Email List of measuring the ROI of your digital marketing is that it will give you a much clearer idea of ​​how much you spent and how many new customers you generated with each particular effort. Many new insights can be gained from tracking ROI-related data, such as which channels generate the best leads or the famous CPA cost per acquisition which means how much does each new customer cost us?Prepare for the future: Tracking your ROI will result in a whole series of data that can help you make better decisions in the future. With this information you will be able to know where your business is moving and reduce the margin of error.

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