While every entrepreneur knows that their digital marketing game may as well determine the effectiveness of their business efforts, sometimes they may feel as if they’re not getting their money’s worth.
The most significant advantage of digital marketing over its traditional counterpart lies in the fact that you get a much more thorough and exact analysis of its performance.
Still, for a lot of people, due to the inefficient execution, the ROI of used marketing methods gives far inferior results than anticipated (or even figures that are far below the industry average).
So, how do you increase their digital marketing ROI? Here are several tips that can help.
Essential Tips on How to Increase Digital Marketing ROI
Correlation Between Content, Social and Revenue
The first thing you need to ask yourself is how do your successful social media leverage and the quality of your content translate into revenue. In other words, if you post a piece of content and it has 10,000 views, 5,000 likes, and 500 shares. How exactly does this convert into sales?
Without it, these relevant performance indicators are merely vanity metrics. Once you figure out this correlation, you will be well on your way to producing content of the higher quality. For this to work, on the other hand, you need to know your audience. It is why any successful improvement in the field of digital marketing ROI starts with market research. One of the key metrics that you’re looking for is –customer engagement.
Other than this, you also need to figure out your cost-per-conversion ratio. It is the first figure that represents a crossover between the financial and marketing aspects of your business. How many people you can convert with the amount of money that you are going to spend on marketing. Or how much does it cost to gain a single lead (or paying customer)?
KPIs and Your Business Goals
The thing that you need to pay particular attention to are the KPIs (key performance indicators) of your business (especially your marketing).
This article was written by Mia Ackerson and originally published on WP Pluginsify.