5 Tips to Track your Return on your Investment with Marketing

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Return on Investment

Now more than ever, marketing your company is important to ensuring that you are reaching your target market and drumming up business.

Now with competing influences such as social media channels, websites, blogs, social influencers, among other types of advertising, getting your brand out in front of potential customers is not an easy feat.

Gone are the days where you placed a witty ad in the local newspaper or plastered your campaign across town on billboards to garner interest for your brand. You now have to work harder and smarter to reach your target market.

It is because of this that some companies are turning towards call tracking to help them in their marketing pursuits. This article will provide some tips to help you track your return on your investment when it comes to marketing.

#1. Call tracking:

There are many ways that call tracking can help you identify your return on your investment.

From helping you pinpoint the most successful times to place a call to your potential customers to helping you track topical interests, call tracking is one of the leading tools to use when determining how well your marketing dollars are performing for your company.

To learn more about call tracking, you can learn more on analyticcalltracking.com.

#2. Use the proper methodology:

When tracking your return on your investment, one of the best ways to do so is to use the first touch/last touch approach.

To put it simply, this means that if you base your interactions with a potential client on when you achieve the sale, you could either attribute it to being a first or last touch situation.

For example, if your company hosted a training and a few weeks after the training a client contracted with your company, you would count the first touch, or the training, as the point of success.

However, if a member of your sales team contacted a potential client and introduced them to a product, but the client did not commit to a purchase until after the demonstration of the product, the success of the sale would be attributed to the last touch, which is the demonstration.

#3. Use a test group and a control group:

One of the best ways to measure your marketing success is to look at the impact that it has had on your target market.

The best way to do this is to generate a control group and provide the same marketing strategies to them as you would with a test group.

You would then take the data that you received from both groups and compare and contrast to give you the information that you need to determine if your marketing dollars are working for you the way that you want them to.

#4. Experiment:

Test the waters and try new things. The key to having a good marketing plan is to keep it changing at all times.

Nobody likes a stale marketing plan. Have you ever wondered why companies with successful marketing plans change up their commercials or print advertisements?

It is because after awhile the client will get bored or not even pay attention to the same ad. It will be worth the investment to continually bring out fresh marketing campaigns.

#5. Ask for feedback:

One of the best ways to find out how your marketing is working is to ask your loyal customers.

By offering them a coupon or some kind of reward, you will be able to get a good response rate that will help you understand your clients and their purchasing habits.

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