The internet is a global marketplace, and you can’t afford to ignore digital marketing. You need to be present online if you want to stay in business. But just like any other form of marketing, digital campaigns are costly and require an investment up front. To get the most out of your investment, it’s important that you track the performance of your digital marketing efforts so that you know how well they’re working for your business.
What Is Digital Marketing Roi?
What is Digital Marketing ROI? It’s the return on investment you get from your digital marketing campaigns. You can measure this by looking at how much money your campaign made, or how many leads it generated, or even how many people visited your website after seeing an ad on Facebook.
How do you measure digital marketing ROI? There are several ways to measure the success of any marketing campaign: sales volume; number of leads generated; traffic increase; increased awareness/brand perception/top-of-mind awareness (TOMA) scores; improved engagement rates… The list goes on!
Why use digital marketing instead of traditional methods like print ads or direct mailers? Because it’s cheaper than traditional advertising channels like television commercials and billboards, which makes it easier for small businesses with limited budgets to get their message out into the world without breaking their bank accounts!
Are You Tracking Your Digital Marketing Roi?
Perhaps the most important question to ask yourself is, “Am I tracking my digital marketing ROI?” If you’re not, it’s time to get started.
Your digital marketing efforts need to be measured in real-time so that they can be optimized and improved over time. Without measuring ROI, you have no way of knowing whether your current strategies are working or if they need to be tweaked or changed completely.
There are several ways in which you can measure your ROI:
- Cost per lead–The amount spent on generating leads (for example, advertising dollars) divided by number of leads generated
- Conversion rate–Number of conversions divided by total number of visitors
How To Set Up A Tracking Plan For Your Digital Marketing Campaigns
Before you start to develop a plan for your digital marketing campaigns, it’s important to think about what the problem is. What are you trying to achieve with those campaigns?
If you don’t know what your goals are, then that can cause problems in the long run. You want to be ambitious but realistic, so don’t set impossible goals and focus on achieving one or two small wins along the way instead of trying for a grand slam every month or two.
For example: If I were setting up my fitness tracker on a daily basis and wanted it done within 3 months (and I was already doing some strength training), then maybe I’d aim for something like 20 minutes of cardio per day plus 10 pushups each week—or maybe even just 5 pushups until I got used my new habit! Or maybe instead of focusing on weight loss overall, we could just focus on losing 5 lbs by June 11th…
Best Practices For Tracking Your Digital Marketing Efforts
There are several best practices for tracking your digital marketing efforts. Don’t just track your ROI. Track it by channel and campaign, as well as keyword and ad group. You’ll be able to see which campaigns are working best for you and how much of a difference each has made in terms of revenue generated.
You can also use these metrics to determine what types of ads work best in certain situations (e.g., different days or times), which will help inform future decisions about what types of campaigns should be run during particular seasons/holidays/events/etcetera.
Use conversion tracking through Google Analytics so that you know exactly how many people clicked on each ad before making a purchase from your site–and then compare those numbers against other sources such as social media posts or email blasts!
This will help you determine if it’s worth it to continue running that ad campaign or if there’s a better way to spend your money. Get a quick snapshot of the health of your campaigns by tracking impressions, clicks, and conversions.
This will allow you to see how many people have seen your ads as well as how many people clicked on them (and hopefully bought whatever was being advertised).
Get More Value Out Of Your Investment In Digital Marketing
The most effective way to measure and optimize the performance of your digital marketing campaigns is through a tracking plan. A tracking plan provides you with insights into how well your website, social media pages, and other online properties are performing.
This information can be used to make better decisions about what content to create or publish next, where to promote it (and who might be interested), how much money should be spent on each platform, etc.
We hope this article helped you understand the importance of tracking your digital marketing ROI. It’s easy to get wrapped up in the day to day hustle and forget about optimizing your campaigns, but taking a step back from time consuming tasks can give you an opportunity to see how well they’re working or not working at all.