How to measure marketing ROI for your business

When it comes to your business, one expense that you will soon learn that you need to budget for is your marketing. If you don’t make an effort to get your business out there, then you are never going to succeed.

The trouble with marketing is it can be expensive. Dependent on the approach that you take and it’s vital that you see this as an investment. One that you hope to see a return on. But how do you know whether or not your business is seeing a marketing ROI? 

Listen to your social media

Social media is a huge indicator of how well your business is doing. This is particularly true when it comes to marketing a new event, product or service.

Take a look at your social media mentions, are your target audience taking notice of what you are putting out there? If they are talking about it, is it positive? Is there a buzz about what you are offering?

If done right, you can let the crowd do the hard work to generate a marketing ROI for your business

Take a look at your website analytics

It may not seem it but your website is a huge part of your marketing campaign. Why? It will often be the place that you direct prospects to in order to find out more about you as a business.

If you want to know whether or not this is working, you can find out more with a website analytics tool. This will not only show you how many visitors there have been to your website, but also how long they stayed and what pages they looked at whilst they were visiting.

Find out where leads are coming from

How many times have you had to answer a “where did you hear about us?” question when you are online? Chances are, plenty of times. This is because this is incredibly valuable data to the business.

If you’re not doing this already, then start right now. Find out which particular aspects of your marketing campaign is giving the best marketing ROI and which ones could do with some extra attention.

The actual sales

Sounds like an obvious one, and it is! One of the simplest ways that you can make sure get a marketing ROI is to get more sales. More sales means more customers which means that your profit is going to go up. Money isn’t something that any business would turn down, am I right?

Focus on your marketing ROI

As you can see, seeing a return on your investment is something that every business should be focusing on. The approach you take really depends on your own marketing choices and what you hope to achieve in the long run. The main thing to remember is that you keep an eye on how well your business is doing and ensure that you make the right choices when it comes to marketing it.