In this episode of Live with Mike! I dive into an area that is sorely needed and often not setup well. I talk about, "What Metrics Matter? Determining ROI with your Social Media and Digital Marketing."
Ready to dive in and learn what metrics you can and should be tracking to truly determine ROI for your social media marketing and web marketing activities? That's what I cover in this episode. Let’s do it!
Obviously, we want to measure ROI from social media marketing and web marketing efforts. It's fairly simple in some cases like e-commerce and let straightforward in others such as B2B where there is handoff to a sales agent for a custom quote. Yet, even when it is not straightforward, there are ways to measure how the campaigns are performing.
Here's just some of what I cover...
If you have a e-commerce site and use conversion tracking with tracking pixels on the post-purchase thank you page it is quite straightforward to track ROI. Basically, you can run your campaign with custom url parameters to track how many reach your site product from the campaign and then by adding conversion tracking in Google Analytics and by adding conversion pixels if you are using Facebook Ads, you can determine sales coming from a Ad campaign.
Let's say people come to your website and they may not order but they want to call and eventually they make a purchase. How do you know they came from a web campaign? Well, you can get a forwarding phone number and use that on your landing page on your website so that you can track calls from that number that is only accessible in your campaign!
Did you know that on any Google Adwords campaigns you can also select to use custom phone numbers that Google supplies? Using their tool for calls essentially means they offer a unique phone number in the ad that is tied to your phone number. People call that number, it goes to you, and Adwords tracks that as a call conversion.
Maybe you do not have e-commerce but you can measure the growth of leads to your email list. This is a form of ROI that is helpful to track. As well, you can then track email nurture campaigns by email address and associate with sales to companies to see if a lead eventually purchased via the web/email campaign combination.
One thing that is often overlooked is the conversion process on the website. If you get the traffic there but then people have a bad experience finding things are navigating the site on their phone....they leave. The website experience is critical to the success of any campaign driving people to a website. The website must load quickly, be simple to navigate, and help people get what they want quickly.
Do not neglect the website experience!
All this and more golden nuggets in this episode on determining ROI from social media marketing and web marketing campaigns.
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I’m an Indiana Hoosier native where basketball is the top sport. Every team heads to the locker room at halftime to evaluate the first half and create an updated plan for the second half. That plan includes adjustments based on reviewing what worked and what didn't. The “halftime” is a key review point where the game stops, the team pulls away to huddle in the locker room away from the fans, and they come out prepared and ready to succeed in the second half.
That’s what this podcast is all about, taking the time to pull away for a bit to evaluate, learn, and set some strategies for your business to succeed in the second half. Join me by subscribing and let me be your “business halftime” to help you find great success going forward!