Marketing ROI – When Will I See A Return On My Investment? // If you are investing money into your social media and online marketing you want to know you are spending it correctly to get a return, but how long should you expect to wait? Social Media Marketing is not an instant fix. With time and a quality content you can grow your brand awareness, trust and leads. This should be your end goal and it will bare fruit in the long term.
Digital marketing is always changing, this has been caused by Google’s algorithm changes and higher competition from businesses using the internet for marketing promotions.
Digital marketing includes search engine optimisation (SEO), video marketing and social media to promote a business and its website, gone are the days when a campaign could be measured by the amount of visitors the site has produced. Whilst these are fairly easy to report on and measure they do not entirely show the marketing contribution to the bottom line.
To understand what the Marketing ROI is, we need to understand what the goals or aims of the company are, what they wish to get from a digital marketing campaign and then measure these goals. For this we need to look at the Key Performance Indicators (KPIs) and the goals for each one.
Here are some types of key performance indicators:
- General Performance – Traffic, leads, Reach
- Channel Based – Website, blog, social networks, search engines
- Source based performance – Direct traffic, Organic search, referrals, email, PPC
- Campaign based performance – Lead generation, click throughs, conversions, conversion rates
- Setting realistic and measurable goals
Once you are agreed on the KPIs, the next stage is to measure these, what style of report and how these are presented. It may be necessary to change the KPIs over time and thus the goals too. Once you know the goal and how to track it, you can see how to calculate your Marketing ROI.