In today’s world, data-driven marketing is the core of any successful marketing campaigns. No longer can we run a campaign based on gut feelings.Data is the source of marketing truth. Each campaign provides valuable data and actionable Insights and each campaign should have a measurement plan. so how can we achieve greater return on investment and evaluate the impact of campaign results? before we get into the details, let’s first take a look at some of the basics of a measurement plan.
Agile Marketers love to work with data-driven marketing campaigns, measure data sets and modify strategies based on the data and results and modify strategies accordingly. I recommend you to get familiar with data and analytics from google analytics, a source of collecting brand data.
Here is a quick video on how to get started with Google Analytics
let’s now dive into measurements and ROI, so what is ROI in marketing? Return on marketing investment (ROMI) is the contribution to profit attributable to marketing (net of marketing spending), divided by the marketing ‘invested’ or risked. ROMI is not like the other ‘return-on-investment’ (ROI) metrics because marketing is not the same kind of investment.
How do we calculate ROI: Return on investment or ROI is the ratio of a profit or loss made in a fiscal year expressed in terms of an investment and shown as a percentage of increase or decrease in the value of the investment during the year in question. The basic formula: ROI = Net Profit / Total Investment * 100.
The basic formula: ROI = Net Profit / Total Investment * 100.
Measuring Email campaigns: Email is the most measurable digital channel, based on the findings of a Click through rate, open rate, bounce rate, we can prioritize our next content strategy. Email is an effective tool to nurture. Here are the Email Marketing Automation toolsread the 7 top
Also watch this webinar recording presented by Marketo, a marketing automation software. The webinar explains and shares ‘Comparisons and Best Practices from the Marketo Benchmark on Email Marketing’.
A screen grab from the webinar.
Measuring Video Performance: Videos are the second most powerful channel to engage customers but once created, published and streamed how do we measure live video performance? How do you figure who engaged with your video? Analyze data, engagement, and impact on your brand will only help you to create effective video marketing strategies and campaigns. Data collection, conversions, and goal success are clearly described in this
Data collection, conversions, and goal success are clearly described in this blog published by Marketo.
Measuring Content performance: What is the consumption of my content? Which channels contributed the highest towards increased traffic and leads, How else can we reach our target audience, these are some questions that we should have an answer for when developing a new content strategy or providing recommendations. 5 Questions to help set, manage and review your content marketing effectiveness
Before I leave you with this blog, watch this short video on 5 simple steps of world class email marketing by WSI.
Drop your comments here: