It could be said that it is a very useful parameter to quantify in terms of results, additionally finding the ROI in marketing and sales allows us to determine the investment and how much Cayman-Islands Email List of this is returned to the organization. A study carried out by the University of Columbia – Business School found that Marketers know the importance of ROI marketing especially in the Big-Data era, however they do not know how to calculate it or simply do not implement it since they believe that only calculating the increase followers or managing audiences are already performing a marketing ROI . Since marketers or digital agencies build the metrics or more specifically deliver the results according to the number of followers, clicks and likes generated by the campaigns. These only serve to measure the results of each company or the objectives set in terms of exposure, interest and involvement of consumers, customers or potentials, but these are not focused on costs and monetary income. Which are the ones that really measure the benefit of each campaign . “Likes and clicks are not sales or new customers”
Some of the specific results of the study carried out by Columbia University – Business School are; 31% of respondents said they believe that the simple measure of the audience reached is “return on investment.” Additionally, 57% are not basing their marketing budgets on any ROI analysis, and 28% are still basing marketing budgets on gut instincts (4imprint, 2014).
This is why the ROI must be calculated, in order to economically quantify whether the campaigns carried out are having the expected monetary success. With this we can evaluate in detail how much each peso we have invested has generated. To calculate the ROI within digital campaigns, costs and sales must be measured based on a specific time and an attribution of traffic source .
Identify what marketing ROI is and what it means for the organization.
With this point, it is sought that all collaborators are aligned with the objectives and the meaning of ROI marketing so that everyone can be focused on reaching or achieving the same objective. This is perhaps one of the most important measures to carry out since a general objective is determined and it is broken down into much more specific KPIs, which will be the ones that will be quantified. For example; Number of followers, sales, time on the page, among others.
Set realistic and measurable goals.
After having the KPIs defined, the most appropriate metrics must be established. As more information is acquired, much more challenging and aggressive objectives should be created, but always thinking that they are measurable and realistic. It is advisable to make a timeline as a guide to have a rigorous constant measurement frequency, this can be done in a simple way.
Nowadays it is much easier to measure the results given the tools that we can find on the internet, since this allows us to facilitate the collection of data on the internet. One of the most recurrent is Google Analytics. This allows us to extract data such as pages visits, number of visitors. We can also find more specific ones such as: Klout, Peer Index, Hoot suite Pro, Eloqua, admetricks or Optify.