All the companies we meet are convinced of the importance of the internet and social networks. Unfortunately, when we talk about the ROI, it is often very difficult for them to give us a clear and objective view of the results obtained. Here’s why.
We are often contacted by companies that have tried to communicate on the Internet in order to generate leads and acquire new customers but, after a few weeks, tired of seeing no significant results.
We also meet companies who invest crazy amounts in their Digital Marketing with more or less success but have no clear idea of their ROI. They win customers with Digital Marketing but are aware of missing opportunities due – I quote – “holes in the racket”.
To generate leads and win customers on the Internet , it is however essential to be able to measure the returns and the relevance of your actions.
There are two things to understand about measuring your ROI Digital Marketing:
- On the Internet, Return On Investment is not just about direct sales.
- It is important to measure the performance of all your Digital Marketing actions to have an accurate and global vision of your ROI.
To measure the ROI of your Digital Marketing, here are 3 blunders to stop now.
🚨 # 1 – Action … without an action plan!
When it comes to setting up Digital Marketing actions that benefit the company, the range of tools is wide: forms, CTAs (call-to-action), Landing Pages, launching a business blog, opening accounts on social networks …
In a surge of overwhelming enthusiasm, marketers often make the mistake of dispersing by attacking all of their subjects head-on, without much preparation.
While implementing many tools provides increased visibility, you must first define a strategy – or action plan – to know where you want to go.
To properly measure the ROI of your Digital Marketing, it is essential to have worked before launching the major maneuvers a documented strategy including your objectives and corresponding performance indicators to follow.
We also advise you to include in your Digital Marketing strategy an editorial calendar planning your actions over a period of 6 months minimum.
By establishing this schedule, you channel your enthusiasm and lay the foundation necessary to measure the ROI of your online actions.
🚨 # 2 – Without a goal, no ROI!
Being better or more present on the Internet and social networks is not an objective in itself. A goal must be precise and must be able to answer the acronym SMART:
- S for specific
- M for measurable
- A for acceptable
- R for realistic
- T for Timely (delimited in time)
Our customers therefore express their objective as follows: We want to increase our monthly turnover by 50% within 24 months.
Without clearly defining your goals, you will have difficulty measuring the impact of your actions. It will be even harder for you to have an accurate view of your ROI and determine the cost of acquiring a new customer online.
🚨 # 3 – Multiplying the tools is multiplying the risks
At the top of the list of Digital Marketing tools used by companies we meet are Google Analytics, Google Adwords, MailChimp, Sarbacane or any other Emailing tool, a CRM and a mix of social networks.
This approach reassures us about the desire to use a large number of levers on the Internet to optimize the ROI of their Digital Marketing.
However, when it comes to entering the details of a visitor’s journey on their site that becomes a lead then becomes a customer … the difficulty of retracing this path through all the tools deployed is a real obstacle course.
Do you know how to answer his questions without having to open all your Excel tools and files? :
From which page did the visitor become a lead? Since joining our newsletter, what are the actions that our lead has undertaken? Has our last customer from “the Internet” started on our site from LinkedIn, Google Adwords or elsewhere?
By multiplying the tools, you also multiply the links to create between them. This practice is a brake to easily calculate and for sure the ROI of your online actions .
To avoid the fear of quarterly Digital Marketing reporting, do not hesitate to contact us! We will explain how we work to compile all information from our site and deliver ROI in a few clicks.