All business marketing strategies mirror the same motivation: to achieve efficient and profitable results. Though companies are adamant with the creation and execution of marketing activities that is meant to drive success, the actual tracking and determining the profitability of these marketing efforts are not always implemented. Capturing ROI is unfortunately not easy, but utilizing the simplest marketing techniques with the right tracking and analytical tools can improve the likelihood of effectively measuring the results.
An original form of digitized communication, emails assist marketers’ to spread vital information regarding promotions or updates to target customers. Despite its popularity in usage, a 2016 MarketingProfs survey revealed only 23% of marketers have integrated emails, as well as their websites, to track what happens after a click. Though not many companies investigate the effectiveness of each email, doing so is still possible. Taking the time to collect data from email campaigns, such as conducting A/B testing on email subject lines, client personalization, sending time, clicks and conversion rate can strengthen marketing objectives and maximize ROI results.
Mobile devices continues to influence society today, with 80% of internet users owning a smartphone. More specifically, mobile text messaging has reformed communication and has become the prime preference of communication for 33% of Americans, and texts have a 99% open rate. SMS messaging benefits business ROI by offering trackable click-through rate data when built-in analytics are attached to specific links sent within mobile messages. This cost effective tactic also increases 10x greater likelihood that consumers will redeem brand offers that are easily accessible via mobile rather than traditional print formats.
Social Media Marketing
The fact that 83% of all marketers actively pursue social media marketing initiatives is no coincidence. Businesses efficiently maintaining profiles on social media platforms like Facebook, Twitter and LinkedIn are able to increase brand credibility within their industry and brand recall among target consumers. However, the evolving nuances of SEO present an imperative problem for marketers: tracking data. In 2015, 6 in 10 small business owners stated they were unable to track ROI from their social media activities. Today’s top social media platforms currently include insights for account profiles such as page views, post engagements and even follower demographics. Alternate data-collecting tools such as Google Analytics, Hootsuite and Iconosquare gives ability to analyze cross-platform social media campaigns and post strategies.
Businesses that explore options for analytics and construct a comprehensive marketing plan are more likely to achieve desirable marketing ROI.