3 Things to Look for When Deciding if your Marketing is Effective
DO YOU KNOW WHAT YOUR ROI IS?
26.04.16
BRANDING
DIGITAL
STRATEGY

<<First Name>>, do you know what your marketing ROI is?


It's a common mistake. We see it all the time. People implement marketing, get a bunch of leads and assume that their marketing investment is being paid for. 

The simple fact is that if you don't know exactly how much you're spending, where your leads are coming from, and how many of these result in sales, then you can't possibly know if your money is going to a good cause. Without understanding the entire sales pipeline, you could be wasting your efforts.

So how do you go about figuring out what your return on investment (ROI) is? It's simple;
  1. Calculate how much money you are spending on your various marketing avenues and lump it all together.
  2. Count the total amount of sales you get and sum the total lifetime value of each sale.
  3. Divide your total sale value by the total marketing cost, and bang! You know your ROI.
What does it mean? Well, if your ROI is less than 100% then you're spending more money than you make.

You can go further;
  • Calculate the cost per lead: divide the total marketing cost by the total leads you get. This is how much it costs you to get a lead.
  • Calculate the cost per sale: divide the marketing cost by the total number sales. This is how much it cost to get a sale.
  • Work out the marketing ROI for each marketing avenue (such as SEO or PPC).
So now you know how to track your ROI. But what should you do about it? Well, you can use our new platfrom to do the work for you; www.newlytics.com and you can contact us to figure out how to improve your ROI!
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