An Adobe Systems and ResearchNow survey of digital marketers found that 76% of businesses believe that measuring marketing ROI is a critically important objective. That’s the good news. The bad news, however, is that only 29% – or about 3 in 10 – feel that they’re doing this effectively and consistently.
If you’re among the 7 in 10 business owners or marketing managers that feel queasy rather than confident when you come across the phrase “measure marketing ROI”, then don’t worry: help is here!
Below, we’re pleased to provide our top online resources for measuring marketing ROI:
In our experience, HubSpot is far and away the single best online resource for measuring marketing ROI. Even small businesses with limited contact data can build and then access massive, rich datasets to tell them what’s working, what isn’t, and where they should be allocating their resources and time.
It’s also worth noting that while businesses are strongly encouraged to host their website on the HubSpot platform – to leverage enhanced content management and reporting features, as well as lightning-fast page loading – they aren’t obligated to do so. Instead, they can install HubSpot tracking code on their website (or specific pages) which won’t give them total access to everything that HubSpot offers, but it’s certainly a step in the right direction.
2. Google Analytics
While it’s not as robust or sophisticated as HubSpot, Google Analytics is also a useful online resource for measuring marketing ROI – and the fact that it’s free doesn’t hurt, either!
Through Google Analytics, businesses can glean actionable intelligence on various metrics and KPIs, including traffic sources, visitor segmentation, time on page/site, most popular pages, and so on. Google Analytics is also useful for tracking SEO campaigns; specifically with respect to strategically choosing keywords to target high quality leads vs. generic traffic.
3. Facebook Insights & Twitter Analytics
These are two separate tools for measuring marketing ROI, but we thought we’d combine them here since we generally recommend both of them (since every business needs Facebook and Twitter!).
Facebook insights is a dashboard that delivers some good analytics regarding a business’s Facebook page. This data can be used to optimize content, expand reach, and improve Facebook ad campaigns; particularly retargeting campaigns, which can be very effective.
Twitter didn’t want to be left out of the analytics party, so it launched Twitter Analytics, which lets businesses track timeline activity, Tweet statistics (favorited, re-tweeted, replied-to), the number of mentions, new followers, and newly followed. Like its Facebook counterpart, Twitter Analytics is useful as part of an overall marketing metric toolset.
The Bottom Line
Measuring marketing ROI doesn’t need to be a fuzzy “guestimate” that the majority of businesses are struggling with. It can and should be a controlled, efficient process that empowers businesses to optimize campaigns and effectively allocate resources.
To learn how your marketing managers and teams can efficiently and consistently measure marketing ROI, contact the marketing experts at Leap Clixx today or download our free eBook!