Digital marketers usually consider metrics including search engine optimization (SEO) and pay-per-click when it comes to improving performance. Some common goals can include to be among the top five or top ten search results on Google, or earning that coveted blue “verified” check on Instagram. Then, there are all of those badges, endorsements, ratings, testimonials, and reviews that can collectively signal their brand’s success (or failure) on social media.
By: Christina Ross
But there’s a traditional advertising metric that can and should be applied to digital advertising: return on investment, or ROI. ROI allows clients to understand what they’re receiving for their digital ad spend in dollars and cents, rather than more subjective social media currencies. ROI is particularly important now, with budgets tightening as the economy slows.
Sonnenberg Media founder Anna Sonnenberg says that most marketers consider a 5:1 ROI acceptable, meaning you earned five times more than what you spent on your marketing campaign. If you’re doing between 6:1 and 10:1, consider this a good sign.
If your returns are lagging, however, there are many possible culprits. Despite paying to be seen constantly on Facebook et al, your marketing approach may just not be that productive. Here are some tips to help you find what you should change to make your marketing investment worthwhile:
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