When it comes to digital marketing ROI, brands frequently miscalculate. It’s the age-old problem of focusing on the wrong metric, and it can make it difficult to know exactly which digital marketing tactics are working better than others.
Take attribution, for instance. Consumers typically require anywhere from three to seven touchpoints before making a purchase. Which touchpoint was the most important? If you rely on Google Ads and Analytics report data, you’ll assume it’s the last touchpoint. That’s because Google is configured to give all the love to the last click. The problem, of course, is that the whole customer journey isn’t taken into account. Accordingly, marketers end up putting all their budget and time into those last touchpoints and wonder why they’re not making progress or seeing tangible results.
Figuring out how to maximize ROI isn’t easy. Even if you have all the data in the world, you have to know which data matters. Any marketer can show that a company is moving the needle on a dozen KPIs, but if those aren’t the right KPIs, the needle movement isn’t affecting the organization’s bottom line at all.
So where do you start when you want to develop a marketing ROI process that counts? You must first decide which marketing goals are most important to your business. Are you interested in customer acquisition? Customer retention? Site and content engagements? This digital marketing infrastructure discussion has to happen before you can roll out any marketing...
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