Digital Marketing? ROI simply compares the profit that resulted from a digital marketing campaign to the cost of creating and implementing the campaign. Ideally, you want as high an ROI as possible. The basic ROI calculation is: ROI = (Net Benefit/Total Cost)*100 Still, calculating ROI doesn’t mean much if you don’t have goals or targets, have inaccurate numbers and data in your calculations, measure the wrong KPIs, or aren’t sure Job Function Email List what you’re looking for. . Before calculating the ROI of a campaign, consider the following: UNDERSTAND.
THE OBJECTIVES Demonstrate that your digital marketing strategies generate revenue for the organization. Marketers are drawn to the lure of proving the ROI of their work, but what if ROI isn’t the only metric the business should use to assess the success of its efforts? Not everything in the digital marketing campaign will have results that directly show ROI. IDENTIFY KEY PERFORMANCE INDICATORS.
The strategy must be designed for a unique and different business, even from competitors in the market and location, and the KPIs must reflect this. If you try to use the KPIs of other organizations, you will end up with data that is not useful for your own. This relationship can inform the quality of leads your marketing team delivers to the sales team, as well as how effective the sales team is at closing leads. This ratio can help you calculate your projected digital marketing ROI through this formula: Projected.
