How to Measure Your Marketing Return on Investment

The Return on Marketing Investment measures how much revenue a marketing campaign is generating compared to the cost of running that campaign. Many digital marketing agencies in Chicago and everywhere know how to measure your marketing return on investment and so should you in order to keep your business growing.

First, what are some of the return on marketing investment challenges?

Measuring returns on a marketing investment is actually more complicated than most think for several reasons.

Numerous campaigns are one of the reasons. Most marketers today run a wide variety of campaigns simultaneously. This can make it difficult to pay attention to the performance of each individual campaign.

Also, marketing campaigns can lose control. It can be really difficult to monitor and measure the effects of marketing.

So, both marketing campaigns and the achievement of marketing goals can be really challenging.

Faced with these challenges, the most effective way to measure marketing return on investment is to combine and compare data sets from a variety of sources like Google Analytics, Google Adwords, your Marketing Automation Platform and CRM. All of this in order to identify data correlations and trends over time.

Don’t forget that you can also measure return on marketing investment in real-time. Once you have established benchmarks and targets, you’ll want to establish processes for monitoring this and other marketing KPIs.

Lastly, what are some of the best practices?

Well, you can drive more leads through the middle of the funnel. All of this by targeting new trial starts or new newsletter subscriptions. You can also target directly to the marketing goal that connects all others: new customers and new sources of revenue. Whether the marketing target is top of the funnel or bottom of the funnel, short-term or long-term, measuring marketing’s progress toward its goals against the time and money that has made easier that progress is just critical.

Learn more about how to track your return on marketing investment with the help of marketing services in Chicago an all around the world.

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