Digital marketing is an investment. The question is, how do you measure the return on your investment (ROI)? When you enlist our digital marketing services, we’ll create an ROI scorecard to help you see your results. At our monthly meetings, our team will review this scorecard with you. Success looks different for every client, so your scorecard will contain a set of metrics that mean success to you. You’ll be able to choose how we measure your digital marketing ROI.
Here are some metrics we can use:
- Content: frequency and reach. How often are you posting new content? How many people see it?
- Engagement: the number of people who interact with your message. How many people “like” your posts, comment on them or share them? How many readers click on links in your e-newsletters?
- Network size: the number of people who are now following you or set up to receive additional communications from you. How big is your email list? How many Twitter followers do you have?
- Monetization: converting your network into leads, ecommerce sales or coupon redemptions. How many times are your final intended goals occurring? How big is the dollar amount?
The importance of each metric can change during your campaign. At a campaign’s beginning, you may want to focus on increasing your network size so that more people receive your messages. After that you can focus on increasing engagement and monetization.
Examining your scorecard statistics can help you place a dollar value on even non-monetary metrics. You’ll gain insights such as how much each Facebook “like” is really worth to your business.
Digital marketing reaches consumers where they spend time. It can build relationships and be highly targeted and cost-effective. But different tactics work best for different companies. You need to see in hard numbers which tactics lead to results for you. Then you can dedicate your resources to what works.
I would be happy to discuss this further. I enjoy learning about individual clients and determining how best to help them. Tell me about your marketing goals. I’ll tell you how our digital marketing agency can use metrics to pursue them.