How Can You Effectively Measure ROI of Digital Marketing?
Return on Investment is the most vital thing for every business as it determines how much return you are getting from your business. Therefore, ROI is the prime thing for any marketing initiative since it’s important for you to see as a business owner that is, whether you are getting any return out of your investment or not. Though many people believe that it’s very tough to determine and measure all your online marketing efforts, but it is still possible. There are two ways of defining and measuring your Return on Investment that is quantitative and qualitative methods. While Quantitative items are very easy to determine, on the other hand, the qualitative takes more effort and proper analysis. Because, Qualitative measurements are not readily measurable and are more sensory, behavioural or even emotional. Thus, when we talk about measuring ROI through quantitative methods in Digital Marketing, it includes the number of views, clicks, and volume of traffic you get on your site. Similarly, complaints, feedback from clients, are some of the qualitative measurements for determining ROI in digital marketing.
Critical Factors That Determine ROI of Digital Marketing
Website Traffic – This is the most important determining factor for measuring ROI for your business, through Digital Marketing. It’s because fetching enough traffic to a website is the prime target that every digital marketer and site owners will want to achieve. As without any traffic, no one is going to see your website.
No Of Clicks on Banner Ads & Email Marketing campaigns– Another vital ROI measuring factor in Digital Marketing is the number of clicks you receive on your banner ads and email campaigns. As this helps to determine how many people opt to see your offers and would be buying from your link.
Customer Complaints– This is one of the most important factors that one cannot overlook. It is because more grievances mean there are some serious problems with your service that you need to sort out. Similarly, lower number of complaints means your chance of boosting your ROI has been increased to its next level as fewer complaints mean more people prefer your services
Facebook Interaction – We are living in the world of social media, and Facebook is the leader of Social media sites and the biggest online marketing platform. Therefore, more you engage with your target audience on your Facebook page means a greater chance of boosting your business ROI.
Blog Commenting – The number of comments you get on your blog also plays a key role in measuring your Return on Investment. More comments on your blog mean more people are taking interest in your blogs and seeing your content. It automatically boosts your chance of getting better returns and leads from your blogs.
So, we have just understood all greatest ROI measuring factors for Digital Marketing. Now, if you are planning to promote your business through digital marketing or you yourself are a digital marketer, then you must focus on all these key factors.