How To Measure Marketing ROI – Return On Investment // Maximise the reach of your Social Media Marketing by measuring your ROI. Once you know what makes you the most money or offers the most value to your brand you can double down or refine your marketing and boosting its efficiency.
Calculating your return on investment (ROI) for any given marketing strategy tells you whether you’re getting your money’s worth from your efforts, and can help you allocate your budget more effectively.
It can also help you demonstrate the value of your marketing strategy to top executives – and for digital marketing, that value can be extremely high. But how exactly do you measure the ROI of online marketing?
Measure Marketing ROI – Maximise Your Investment
ROI is calculated using two primary metrics: The cost to do something and the outcomes generated.
When calculating the ROI of your online marketing efforts, it’s important to track and measure metrics that directly tie to revenue, profit, and other actionable metrics that relate to the goals of your business. These metrics include things like leads, conversion rates, and A/B test results.
Most marketers use Google Analytics or a similar platform to track and evaluate their digital marketing efforts and set up custom goals to track the most important events for their business. If you don’t yet use the platform, we recommend that you start in order to get a better understanding of the value of your campaigns.