In traditional media, the only way to determine return on investment was through waiting to count your sales ages after the marketing campaign took place. And one of the biggest problems with this was that by the time you figured out that a particular method of marketing to your customers and prospective customers was not working, you had spent a lot of money and wasted a lot of time and effort.
With new media mediums, there is most often a way to measure the success in a way that can help you shift gears if something is not working and replicate a successful marketing method quickly if it is — which can allow you to increase your ROI multi-fold. The best way to measure and maximise your success online is to use the tools that are available to you:
Use Search Engine Marketing Tools
SEM, or search engine marketing is something that businesses need to do to help get found by potential customers that use the web to choose products and providers. By paying to be seen on web pages for targeted search engine words and phrases, you can get seen by your potential audience. This is a lot like advertising in a TV commercial during a show you know full well your potential audience watches. The good thing though, is that you can tell by analytics reporting whether or not the advertisement was successful. This is wonderful for those who are accustomed to traditional marketing. All you can do is watch for a spike in sales after an expensive TV spot and try to guess whether or not the sale occurred as a result of your advert but you can much more easily measure ROI with a search engine marketing campaign because you can shadow customers and prospects after the fact and follow a click through to see if the user bought or not. You can watch these stats in real time so that you can tweak and / or alter the ad, the phrases, and the positioning.
The same can be done with organic SEO. You can target words and phrases and once traffic comes as a result, you can analyse whether or not those words and your sales copy resonated enough with a buyer to produce a sale. Reporting helps you determine where to target next and how you may be able to improve your sales conversion rates.
If you’re not yet using business marketing online, you are missing out. Even if your business exists offline, the web is what your potential customers and competitor’s customers are using to make buying decisions. Get some help from a qualified business marketing consultant who can show you how to maximise your marketing investment.