Tag Archive for: Digital Marketing Strategies ROI

Marketing Metrics Businesses Should Be Tracking

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Marketing metrics matter because smart marketing is built on the foundations of solid data. That is why any business with a digital marketing strategy should be closely monitoring the following 4 metrics. Let’s hop right in! 

In today’s digital marketing landscape, there are a number of data points to measure. Some of these will help businesses with consumer insights and others with direct response. This can be tricky as trying to measure both consumer behavior as well as whether specific marketing activities have led directly to sales. After all, aren’t you ultimately in the game to book more meetings?

A business is only as good as the data it collects. Data reveals the most critical questions to help a business grow faster. Here’s a look at digital marketing performance indicators, along with best practices on how to evaluate the data they provide.

Traffic Sources

Knowing where your future prospects are coming from is important. Did they visit your website after google searching your company? Or did they find you through social media? There are so many places where your clientele can stem from, and its valuable knowing how they found you.

By having access to these insights, it will help you prioritize and optimize those channels. Once that has been done you can easily make simple improvements to other channels that are underperforming.

Tracking Engagement

When someone visits your website, it’s always best practice to know how long they’re browsing. This metric reveals how interested visitors are in your content and if you are attracting additional visitors.

If you see that visitors are only browsing on your website for a few seconds, it could be an indicator that they either didn’t end up on the site they were looking for or quickly realized they’re disinterested in what you’re offering. On the other hand, if you see that your visitors are on your website for an extended period of time, it can signal that you have content the market is interested in.

Everytime you post on social media, send out an email campaign or put out display ads you should be measuring your engagement rates. A great example of this is seeing how many likes an instagram post gets. At times one post may have more likes than another post. Knowing how your audience engages with your content will help you cater and craft future content for them.

CAC & CLV

CAC stands for customer acquisition cost, CLV stands for customer lifetime value. Both of these are crucial to your marketing metric strategy. With customer acquisition cost, there is a cost associated with every customer. Businesses need to measure how much it costs to acquire customers throughout their buying journey.

With customer lifetime value, you’re measuring how much the average customer will spend on your brand during their lifetime. This metric indicates the total financial value a customer brings. Ultimately, this metric will help you decide where to invest the most.

Brand Equity

Lastly, become an expert on your audience. Know how they view you and your products. Household name brands such as Nike and Coca-Cola are all names you recognize, even if you don’t buy their goods. A great example of this would be referring to the product as the brand name. Most people purchase disinfecting wipes and refer to them as “Clorox Wipes,” whether or not they’re purchasing that specific brand.

Analyzing your brand strength will help you know how strong you are in the market and if customers prefer your brand over competitors. It will also be a relevant factor in whether or not customers are willing to pay more for your products since they find your brand valuable.

Last Thoughts

When it comes to business, every company is different, and as such, will need to rely on their own unique set of KPIs and metrics to track their performance. Even the digital marketing metrics that are relevant to your business will vary greatly, depending on what you’re trying to accomplish.

We hope you have learned a little bit more about the importance of metrics and how beneficial it can be to your business. Our goal is to ensure we help improve your marketing and drive success.

At Onimod Global, we regognize the unique and individual nature of every client, and work with your business to help develop a custom strategy that is designed to bring you the highest success possible. Digital Decisions driven by Data is our mantra. Advanced analytics and reporting capabilities is what we do best.

Got questions about tracking and measuring your business performance? Contact us here today to start the conversation.

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!