Digital marketing has emerged as an important avenue of marketing and is being increasingly used by businesses. But is tracking and quantifying the ROI of marketing easy? No, because it is difficult to pinpoint exactly which blog post, ebook or tweet converted somebody into a customer. So, what is the solution for calculating the ROI of a marketing campaign? The solution lies in correctly identifying and tracking the multiple variables that can impact the results of a marketing campaign and then using analytical tools to measure them.
How to Measure Marketing ROI
The ROI of a marketing campaign can be measured by identifying what the marketing goals were and to what extent they have been achieved via the campaign. So, before thinking about analytics and tracking marketing ROI, a business needs to designate its goals so that it knows what is to be measured. The goal could be to create brand awareness or interact more with customers or simply enhancing sales.
· Measuring Brand Awareness
The success of a marketing campaign can be measured by checking about the awareness for your brand and conversion of the recipients of the campaign into actual customers. Brand awareness can be measured by comparing a traffic acquisition analysis report or a competitor analysis report before the start of the campaign and again once it is completed. You can also check for an increase in web traffic from new visitors or an increase in inbound links from authority sites to know the impact of the campaign on the target audience. In addition, you need to remember that marketing activities with a goal of enhancing brand awareness often have an aggregate effect, which if measured on a very short time frame, often contradicts the overall impact on ROI.
· Audience Reaction
Another way to track the efficiency of a marketing campaign is to find out how the audience is reacting to the content on your blog or the videos and white papers posted by you. This is visible when they share your resources with their network and friends, comment on blogs and social media updates, review your products and services, subscribe to them or contribute to them. And all this can be done via social analytics tools.
· Measuring Conversion
The next step is to measure the conversions by finding out whether the people who read your newsletter or blog actually purchase a product or service or contribute towards it. Tracking the conversion rates over an entire campaign will help you find out the ROI easily. But this is not enough. You should also check whether the customers actually stick around or move out after an initial purchase or investment. So, we need to find out the long-term ROI of a marketing campaign. This can be measured by tracking whether the customer continues to interact with and responds to your content or events and continues to invest again and again.
Using Specialized Tools to Track the Success of Marketing
Several analytical tools are available for tracking the behavior of individual customers and the same can then be extrapolated to know the overall impact of a marketing campaign. Choose the one that not only allows you to measure performance but also helps in analyzing the results. Not many agencies specializing in crypto marketing have developed analytics tools to allow the measurement of marketing ROI in accordance with their set goals.
Once you have good and substantial analytics and measurement data available, you can now make adjustments and changes to your digital marketing campaign to incorporate the insights presented by the gathered data. The remedial action should be immediate and prompt to boost the ROI of your marketing efforts.
Speak with the team at tokentargetfor specialist crypto marketing analytics tools.