Tag Archive for: digital marketing ROI

Evaluating ROI from Social Media Efforts

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Social media stands tall as a prominent marketing tool. When executed correctly, it can significantly influence your business trajectory. Here’s your guide to engaging your audience, fostering partnerships, staying informed, and sharing industry knowledge.

Recognizing the value of your social media efforts is paramount. By understanding your social media ROI (Return on Investment), you can capitalize on effective strategies and sidestep the ineffective ones. For anyone seeking to enhance brand recognition, social media is non-negotiable. Let’s dive deeper into measuring and optimizing your social media ROI.

Deciphering Social Media ROI

To optimize your social media ROI, it’s vital to comprehend its true essence. The formula is straightforward: (return – investment) / investment x 100 = Social Media ROI. A positive ROI indicates profitable campaigns, while a negative one suggests a deficit.

Bear in mind, that the purpose of calculating ROI varies across organizations. It’s aligned with your company’s specific goals, whether they involve acquiring new followers, enhancing click-through rates, boosting conversions, or gathering complete lead-generation data.

Crucial Metrics to Determine Social Media ROI

Your social media strategy is the backbone of your business. Without it, you’re just flailing around in the dark, hoping that things work out. Here are the metrics you should be monitoring:

Engagement: This involves monitoring interactions with your content. Indicators include clicks, likes, shares, and brand mentions. A significant portion of content creators use engagement to evaluate their content’s performance.

Reach: Quantifies the audience’s exposure to your content on social media. Though vital, it can be trickier to measure than engagement.

Leads: Determining the origins of your leads and the content that magnetizes them is essential. Link your campaigns to your undertakings for optimum ROI.

Conversions: Employ UTM parameters in your post links, allowing you to monitor clicks for every campaign and platform.

Effective implementation of these metrics steers your business towards a promising ROI.

Efficient ROI Tracking

After defining your objectives, it’s essential to establish an ROI tracking system. Numerous platforms can assist you, but Google Analytics stands out. By setting up goals and event tracking, you can effortlessly monitor your ROI. Being user-friendly, Google Analytics offers comprehensive guides on leveraging its capabilities. And here’s the cherry on top: Onimod Global is a proud Google partner. This partnership ensures top-tier online marketing strategies, underpinned by Google’s esteemed products.

As the role of social media in consumer behavior magnifies, marketers must adapt to its evolution. No matter what your ROI percentage is, there is always room for improvement. Some last key things to remember are:

  • Know Your Audience: Ensure your content resonates with them.
  • Innovate: Prioritize quality over quantity and craft captivating content.
  • Refine and Elevate: Upgrade your posts with fresh imagery, keywords, and headlines.

Final Thoughts

Our mission at Onimod Global is to synchronize your content marketing endeavors with tangible business outcomes. With our data-centric strategies, we offer insights into your audience’s preferences, your competition’s strengths, and potential industry leadership opportunities.

Stationed in Chicago, our in-house team is well-versed across multiple marketing verticals, ensuring we cater to all your needs. Our commitment to excellence, updated knowledge, and unmatched customer service sets us apart.

Contemplating your digital footprint? Need strategic guidance? Reach out to us today.

The Smart Approach to Measuring Your Digital Marketing ROI

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ROI (return on investment) measures the effectiveness of your marketing efforts by assessing the return you receive on the resources invested. 

Whether you’re a small business owner or manage the marketing of large enterprises, comprehending the impact of ROI on your digital marketing strategy is vital. 

At Onimod Global, we believe in delivering valuable results and measuring success. In this blog, we will walk you through the ROI process and tips on achieving a return on investment. Here’s what you need to know.

Understanding ROI

In the world of digital marketing, ROI represents the return on investment. In simpler terms, it’s the benefits you gain against the costs you have invested in your marketing efforts. It’s critical to understand ROI because it helps determine the effectiveness of a campaign and provides insights to shape future strategies.

By focusing on ROI, you gain valuable insights into your marketing initiatives. This data-driven approach allows you to make informed decisions, allocate resources, and refine your tactics for maximum impact. Whether optimizing your website’s performance, refining your social media campaigns, or investing in paid advertising, ROI provides a framework for evaluating your investments. Let’s take a look at the benefits of measuring ROI.

Why Measure ROI?

Measuring ROI is more than just a financial concept. It’s a robust measurement of the effectiveness of your digital marketing campaign. It can be an eye-opener that helps identify what works and what doesn’t, allowing you to channel resources more flexibly.

The entire premise of marketing ROI is to validate that the funds allocated are not wasted but result in a net gain. 83% of marketers use metrics to measure content performance, only 51% understand how their content is performing, and the remaining 17% either don’t use metrics or need to know if metrics are tracked. Without measuring ROI, you’re essentially marketing in the dark.

How To Measure ROI

Understanding the importance of ROI is one thing, but knowing how to measure it is another. Here are some steps you can take to enhance your ROI.

  • Set Your Goals: Before measuring success, you must know what it looks like. Set clear, measurable goals at the onset of your campaign. Your goals might be increasing website traffic, boosting conversion rates, or generating leads.
  • Track Conversions: Identify the actions that you consider to be valuable – this might be an app download, a completed purchase, a subscription sign-up, etc. Set up a system to track these conversions. Use tools like Google Analytics to do this.
  • Assign Monetary Value: Calculate how much each conversion is worth to you. Monetary is the average purchase value if you’re running an eCommerce store. Calculate this as the average revenue per lead if you’re generating leads.
  • Calculate Costs: Sum up all the expenses associated with your marketing campaign. Costs should include everything from ads to the cost of content creation, software subscriptions, and staff salaries.
  • Determine ROI: You can calculate ROI. Here’s your formula: (Gains from Investment – Cost of Investment) / Cost of Investment. This formula will give you the ROI ratio, which you can convert into a percentage. If your ROI value exceeds 0 percent, you are losing money.

Once you have measured your ROI, you can then transition to identifying strategies and actions to improve it further.

Improving Your ROI

Improving your ROI can significantly benefit your business by increasing profitability, maximizing resource utilization, and making more informed decisions for future investments. By enhancing your ROI, you can optimize your business’s performance and drive sustainable growth. Consider the following strategies:

  • A/B Testing: Experiment with different versions of your ads, landing pages, or emails to see which ones perform better.
  • Targeting: Fine-tune your audience targeting to ensure you’re reaching the right people. Targeting involves using different keywords, demographics, or interests in your ad targeting.
  • Optimize Landing Pages: Improve your landing pages to increase conversions. Optimizing landing pages could involve changing the design, the copy, the call to action, or the user experience.

Remember that improving ROI is an ongoing process that requires constant evaluation and adaptation. By implementing these strategies and working with a digital marketing agency, you can enhance your ROI and drive tremendous success for your business.

How Onimod Global Can Help

At Onimod Global, we aim to help you align your digital marketing efforts to actual business results. Our analytical marketing strategies offer a clear roadmap to understanding your audience’s needs. They involve evaluating where your competition is gaining an edge and pinpointing areas where you can become a frontrunner in your industry.

As an accomplished in-house marketing agency based in Chicago, we excel in customer service and will teach you the most relevant and up-to-date digital marketing skills. For a complete list of our offerings, see here.

Conclusion

Measuring and improving ROI should be crucial to every digital marketing strategy. At Onimod Global, we believe in maximizing ROI for all our clients. Our marketing professionals use proven techniques and cutting-edge tools to ensure your marketing efforts yield the best results. 

Contact us today to see how we can help you measure and improve your digital marketing ROI.

Effective Ways to Generate Leads Online

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The goal of any business is to generate leads that offer long-term value. If you’re searching for effective ways to generate leads for your business online, check out these tactics below.

Entrepreneurs, startups and even enterprise organizations are all in business to do one main thing: generate revenue.

Unfortunately, there’s no “magic bullet” that can make your website a magnet for prospective buyers. Instead, you’ll want to use a combination of lead generation ideas and tools to grow relationships with potential buyers.

1. Webinars

Webinars are a great opportunity to inform potential customers about your company, products and services. Be sure to inform your audience on how you can solve their problems. This will likely make them more willing to receive your message.

Webinars are a great way to build relationships with prospects and customers by creating a dialogue between the presenter and attendee. Webinars allow for instant feedback from participants through polls, surveys, or quizzes. This is a great opportunity to gather information about potential leads or customers. Having this feedback at hand is beneficial for follow-up emails and calls. At the end of the day it makes those who participated feel like they matter and were heard during the event itself!

If done correctly, a webinar is an excellent way for companies of any size (especially smaller businesses) to reach out to prospective clients while still keeping things simple enough that they don’t have too many resources tied up in running one at all times!

2. Offer Valuable Content

Your audience wants to learn. By creating unique and insightful content, you’ll in turn create interest and/or trust. These are the first steps in customer loyalty, and you guessed  it – leads.

Users are more likely to engage with your products or services if there is a video that explains how it works and how they can benefit from them. This, in turn, makes it easier to make purchasing decisions. Best practices for video content includes:

1. Use an engaging title that captures the user’s attention

2. Use subtitles and captions throughout the video so that users who are hard of hearing can enjoy and benefit from your content

3. Break up your videos into smaller chunks so that viewers can digest each piece of content individually, instead of having to watch all at once (which may be overwhelming)

4. Include a call-to-action at the end of your video so that viewers know what action they should take next

3. Social Media Competitions

When you’re trying to attract the attention of your ideal customers, a social media competition can be a great way to accomplish this.

Competitions are a great way to capture data from your ideal customers, as they typically only require them to do something simple like share/like/comment on a post or follow your page. This makes it easier for you to reach out and engage with them later.

It’s also important to offer an incentive for entering the competition. You’ll want to make sure that the prize is something easily shareable, such as gift cards or products. This will help increase your overall reach and drive leads directly into your business.

4. Create Outreach Programs

Using the internet to find leads is a great way to reach out and connect with potential customers, but it’s not always the best way. Sometimes the best way to find leads online is to track them down yourself!

There’s nothing wrong with this, as long as you go about it in the right way. If you’re surfing the web and find someone who could benefit from your product or service, you should have an outreach program or plan in place to handle this. When you do find a good lead, make sure that you follow up quickly. Don’t let them slip away—it can be hard enough for people to make time for new things, so don’t make them feel like they have to choose between your product and something else important in their lives.

Use social media channels like Twitter and Facebook to get in touch with potential customers who might be interested in what you have to offer.

How Onimod Global Can Help

Lead generation isn’t a one-and-done task. The more you tweak and test every step of your inbound lead generation process, the more you’ll improve lead quality and increase revenue.

Looking for a way to start marketing your business and generating more leads? Learn how lead generation fits into your inbound marketing strategy, plus easy ways that you can start generating leads for your company with Onimod Global. We can assist you with not only LeadGen strategies, but also a range of digital marketing services such as content creation, paid advertising, social media management, SEO, website development and more. Get started on your next marketing project by contacting us here today.

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Want to keep learning? Onimod Global releases the latest digital marketing news and essential marketing tips every Tuesday and Thursday! To catch up on the top digital marketing news and trends, click here. To find out more about who we are and what we do, click here.

Social Media Strategies That Boost Awareness and ROI

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Social media marketing is absolutely necessary for brands and businesses in order for them to stay relevant. By having a social media strategy in place, it helps businesses engage and influence their target audience. 

There are so many campaigns across social media that have gone viral by simply having a strategy in place.

The average amount of time that people spend on social media is 2.27 hours. Considering the increase in popularity with apps like TikTok it has people spending more time scrolling throughout the day. Here’s a look at the benefits of having a social media strategy in place that can drive both brand awareness and ROI.

Benefits of Having A Social Media Strategy

A social media strategy is a plan that outlines your social media goals, the tactics used to achieve them and metrics tracked to measure performance. A strategy doesn’t need to be over-thought and difficult. The best way you can go about creating a strategy is by having a simple yet specific plan with meaningful measurable. 

This will help you clearly identify whether or not the tactics you’re implementing are successful or not. Ultimately, your social media strategy should drive brand awareness and engagement across social media channels for your target audience/s. 

One of the hardest things about social media marketing is consistency. It can be tough to try and recreate a campaign and hope for the same results. By having a social media strategy you can provide your business with the following benefits:

  • Increase Your Brand Awareness
  • Increase Your Web Traffic
  • Generate Quality Leads
  • Quality Data you can analyze and measure

There are so many benefits to social media and having a strategy in place will only strengthen your ability to achieve your business goals.

Steps to Building a Successful Social Media Strategy

Now that we have covered the basics of a social media strategy, let’s get into a couple specific steps you can take to create one. Here’s a couple tips on how you can implement a successful social media strategy:

Set Goals for Your Business

Spending some time in this step will help you understand and define what your social media goals are. This will ultimately determine the rest of your strategy.

Think about what your business wants to achieve from social media and understand that marketing and business goals are different. For example, are you trying to draw brand awareness in the marketplace, or expand your following or generate more leads? You may want to achieve these goals, but it’s crucial to note each one of them as they will involve different tactics on social media.

When you set your goals, define your Key Performance Indicators (KPIs) to understand which social media metrics are important. To be successful on social media, set metrics for each channel you use. Over and above basic metrics you can dig deeper and track audience growth rate. There are many metrics you can use to track success, so narrow them down to what matters to your business.

Research Your Audience & Your Competitors 

Your audience and your competitors go hand in hand. In order to create personalized messaging and content, you need to understand who your audience is and what they want. The best way to achieve that is to do market research. You can do this through online surveys, interviews with your customers or by setting up a focus group.

Once you’ve done this, you will get a better look at your buyer personas which in turn help you create a better understanding of what your ideal customer is. Then you can begin catering to that demographic.

Competitor research helps you understand what your competitors are doing online such as what platforms they use and campaigns they run. You can also see what their messaging is like, as well as their content and how frequently they post. By understanding how they engage with customers and the success of that engagement you can either emulate it or take another direction to capture customers’ attention.

Social Media Platforms

Choosing the best channels for your business can be confusing at the beginning. There are a lot of platforms out there to choose from. Depending on the type of business you are, you may be making a mistake by not being present on all of the platforms. 

Facebook: Is one of the biggest social media platforms and the oldest around. Facebook offers a targeted way to engage with prospects and customers. 

Instagram: Is a great visual platform. Instagram continues to be one of the most popular amongst younger audiences and has seen huge growth over the past few years. It’s a great platform to showcase products and connect with influencers to grow your customer base. Plus with in-app shopping coming to Instagram soon through shoppable posts, customers will be able to purchase on the platform. 

LinkedIn: LinkedIn is the place to be for B2B businesses and provides opportunities for B2C too. It provides businesses with a way to connect in the B2B space both organically and through paid advertising. Content that works well on this platform are blogs, white-papers, eBooks, and industry-related content. 

Twitter: Twitter is a real-time platform which means your content should be timely and relevant. It can be a great customer service channel for brands as it allows quick replies and its hashtags help discover new and trending content. 

TikTok: As one of the fastest-growing social media channels, TikTok is a great place for video content. Known for its short-form and quirky videos, it’s developing rapidly as a platform and can be used effectively for marketing. TikTok is a great place for influencer collaborations. 

Planning Your Content

When you plan your content, you’re creating a tone for your pages. It’s a way for you to figure out if you engage with your audience in a formal or informal voice. It’s how you showcase your brand’s personality. The best way to plan your content is by creating a content calendar. That way you can create posts and schedule them regularly on social networks.

You can measure your posts by monitoring their performance, tracking your KPIs, and lastly, testing out new content to see which keywords resonate with your audience.

Final Thoughts

Doing content marketing without a content strategy is a disaster waiting to happen.

The more you know about how social media works, the better your strategy will be. It’s important to understand the fundamentals of social media marketing along with the intricacies of each platform so you can target the right audience.  

At Onimod Global, our data-driven content strategies align your content marketing efforts to real business results. Our content strategy services make it easy to understand your audience’s needs, where your competition is winning, and areas where you have an opportunity to lead your industry.

As a Chicago-based, in-house marketing team, we are your partner experts for specific marketing verticals or some nice balance in between. We excel in customer service and will teach you the most relevant and up-to-date digital marketing skills. 

Have questions about creating your online presence and need help strategizing? Contact us here today.

Which Digital Marketing Strategies Produce The Best ROI?

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At the end of the day, the main factor that matters most to businesses utilizing digital marketing is return on investment (ROI). There are several digital marketing strategies available, but some are geared towards short term ROI and quick sales while others are long term focused. SEO, SEM, content marketing, social media, and email marketing can all be beneficial digital strategies, but depending on the main goals of an organization some work better than others. This post will explore the different digital strategies, benefits, and which have the potential to produce the best long term ROI.

Search Engine Optimization (SEO)
Many businesses claim to have effective SEO strategies in place, yet are they sustainable? SEO is all about optimizing your website to increase organic search rankings and overall online visibility. This includes both on-page and off-page optimization factors. The ultimate purpose of SEO is to drive more traffic to an organization’s site, which hopefully results in increased sales. Some long term benefits of efficient SEO include:  sustainability of rankings, precise keyword targeting, brand credibility, flexibility, data is traceable, and it typically costs less than other digital strategies. If implemented and monitored correctly, SEO is clearly an efficient digital strategy that can boost ROI.

Search Engine Marketing (SEM)
Depending on the industry, SEM campaigns can be hit or miss. SEM is a digital strategy that allows organizations to rank ahead of their competition on search rankings through sponsored advertisements. It is typically associated with short term ROI and obtaining quick leads, but does have some long term implications. Google AdWords and Bing Ads are the clear front runners in the SEM world. AdWords is the more popular option among PPC marketers, but the quality of Bing Ads can’t be ignored. SEM offers some major benefits such as increased visibility, higher quality leads, precise targeting, development of audiences, and campaign data that can be tracked. Ultimately, SEM is a great digital strategy if done right, but it typically coincides better with organizations seeking short term ROI.

Content Marketing
The importance of content marketing can often times be overlooked by businesses. Content marketing is essentially the development of online content that provides value to visitors, and is typically created with intentions to drive traffic. It is an integral part to SEO and building long term online visibility. Some important benefits of content marketing according to Forbes include: reputation, building trust, conversion potential, cost effectiveness, and lasting value. At Onimod Global our content marketing strategy for clients is about quality and consistency. We develop content with the purpose of ranking for relevant search queries, increasing site traffic, and converting visitors to leads.

Social Media
Social media is an interesting digital strategy when it comes to ROI. Whether paid or organic, social media marketing is all about constructing an organization’s reputation through channels like Facebook, Twitter, Instagram, LinkedIn, etc. It can be difficult to derive ROI from organic social media marketing efforts, but don’t underestimate its value. Paid social media advertising on the other hand can produce ROI sometimes unmatched by other digital strategies. Benefits of social media marketing can include: ease of entry, development of target audiences, cost effectiveness, precise targeting, and massive potential for brand awareness exposure.

Email Marketing
Although Email marketing is one of the earliest digital strategies to come about, it has yet to disappear. There is a reason for this – it still produces ROI. According to Smart Insights, “67 percent of businesses list email marketing as their highest ROI online marketing strategy.” Email marketing strategies today typically consist of newsletters, promotional offers, and other ways to build subscriber lists. The superior benefits that email marketing offers according to Forbes are retaining previous customers, attracting new customers, pure ROI focus, traceable data, and overall simplicity compared to other digital strategies.

Contact Onimod Global
Is your business in need of superior digital marketing services to increase ROI? Reach out to us at Onimod Global and see what digital solutions we can provide for you!

Industries Benefiting The Most From Digital Marketing Campaigns

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Although running successful digital marketing campaigns can be beneficial for many industries, there are some in particular where ROI is much more substantial. It’s almost an “adapt or die” scenario for companies within certain industries in an advertising market dominated by digital media. Listed below are a few industries that have substantial returns on investments when it comes to digital marketing efforts.

Health:
The health industry in today’s market is comprised of millions if not billions of dollars. Physicians, dentists, and any other entities involved in the health industry produce significant returns from clientele. The importance of effective search engine optimization (SEO) and search engine marketing (SEM) strategies to appear on the first page of search results is huge. The ROI is so substantial that there are some health clinics and larger hospitals that allocate millions of dollars to their annual advertising budgets. That alone shows the importance of leads and conversions and why digital efforts need to be emphasized in the health industry.

Food and Restaurant:
The scope of the food and restaurant industry has changed drastically. Businesses are always trying to find new ways to attract consumers to their venues and get customers to feel connected to their brands. Many restaurants have started to prioritize social media advertising as a way to reach target markets and new audiences. According to Toast Inc, “there has been a 20% overall increase in restaurants advertising on social media so far in 2017 compared to historical data.” Therefore, restaurants have started to pick up on the digital advertising trend and those who fail to adapt will suffer in the long run.

Law:
It’s no surprise as to how much money is involved when it comes to the legal industry. The ROI for defense attorneys and law firms is in most cases substantial. However, it was reported by Greentarget in a survey that in 2014 only one in four law firms prioritized their digital marketing plan over other marketing efforts. Although it was three years ago, this statistic is mind boggling due to the high amount of search traffic for law related key words. Essentially, in order to stay on top of competitors in the legal industry, a major online presence is needed and prioritizing digital marketing efforts is a must.

Auto:
Marketing has always played a huge role in the auto industry, but the traditional days of billboards, magazines, and radio ads are diminishing. With the majority of today’s consumers searching online for automobiles, the importance of digital marketing has increased tremendously. eMarketer  stated that “spending on advertising in traditional media by all major auto companies is following a downward trend, while spending on digital advertising is increasing every year. In fact, from 2014 to 2015, it rose almost 22 percent.” In the end, it’s clear that companies within the auto industry will continue to battle it out through digital marketing and continue to find new ways to reach consumers.

In Need Of Digital Solutions?: At Onimod Global some of the clients we serve are in these industries and we know what it takes to deliver positive ROI. If you’re associated with a business seeking improvements with SEO, SEM, Website Development, or any other digital marketing service feel free to reach out to us on our Contact Us page. We look forward to hearing from you!