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Digital Media ROI: How to Determine Its Effectiveness

digital-media-roi-connected-cultureIn the highly segmented, complex world of digital media, results and analytical data can be obtained on a real-time basis. However, the challenge is being able to calculate the return on investment (ROI) of this never-ending stream of information and communicate it to those decision-makers who sign off on marketing budgets.

When you have multi-faceted digital
marketing campaigns that are focused on multiple audiences, it can be difficult to keep track of what’s working and what’s not, as well as where it’s best to allocate resources. One Google AdWords campaign may be highly successful, but others may be lagging in results. A single email blast can generate many click-throughs, but this doesn’t necessarily mean that they translate into leads or sales.

In the simplest terms, the goal of any digital media effort is to generate relevant traffic and ultimately generate qualified leads and increase sales and revenue. Yet, the question is how best to track these efforts to determine if your goal is being achieved. The following are a few of the most valuable sources of data to evaluate your campaigns’ effectiveness.

Website Analytics
Because your website is truly the storefront for your organization, it’s absolutely essential to have your finger on the pulse of who your visitors are and how many are converting. This means analyzing your visitor traffic to understand their behaviors and their needs. Google Analytics is an invaluable tool for determining your digital media ROI because it enables you to measure online sales and conversions, as well as gain valuable insights into how visitors find and use your site and what makes them come back again.

Need to drill down and find the ROI of just one campaign? Google Analytics can provide great detail about a single landing page to help you determine the effectiveness of your content. Other ways to accomplish this are to provide a dedicated phone number for each digital marketing campaign or a specific promo code for site visitors to use. These unique markers are easy to track for the purpose of calculating ROI.

Social Media Analytics
One of the many benefits of an organization taking the time to build exposure on social media is to access the analytics that these channels offer. Every social media channel, including Facebook, Twitter and Instagram, offers amazingly detailed analytics that enable you to track the success of what you share, especially Facebook’s conversion tracking pixel method. From posts to advertisements and interactions, learning who is responding to your content, as well as if they are converting, can help guide your marketing strategies and determine the value of what you’re putting out there for your specific audiences.

Email Analytics
Do you have an extensive email list? If you’re already sending out email blasts in the form of newsletters or promotions, you will want to carefully assess the metrics on how many recipients are actually opening your content and then clicking through to take the next step. And of course tracking how many of those clicks to your website result in conversions.

Putting It Together
When it comes to determining the overall effectiveness of your digital marketing efforts, you need to first generate the data from each individual campaign and then review them collectively to gain a greater understanding of the big picture. With a 360-degree view of where your online audiences are coming from, where they are going and how many are converting, you can calculate the value of your digital efforts and develop a deeper understanding to improve your results.

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How To Calculate Blogging ROI

blogging-roi

Is Blogging Essential in 2014?

One of the top questions marketing agencies are asked these days is whether or not having a blog is essential. While business blogs were still just entering into the commonplace arsenal of marketing tools five years ago, more than 35 percent of Fortune 500 companies are now blogging. This is up from 23 percent in 2010. These percentages are considered to be even higher for smaller-sized companies.

Still, many businesses are reluctant to launch into creating a blog strategy and committing to posting content on a regular basis. In most of these cases, leadership is still not convinced that there is a calculable ROI for blogging.

This year, the upward trend in blogging certainly will continue. This is because more and more businesses are seeing calculable benefits to it. Still not sure if it’s right for your business? Here are some of the valuable reasons why you may want to jump on board the blogging bandwagon in 2014.

More Customers

According to a study from HubSpot entitled “The 2012 State of Inbound Marketing,” 56 percent of businesses that blogged at least once a month acquired customers through their blogs. Those that ramped up their efforts to three times a week saw this percentage jump to 70 percent. Daily blogging produced new customers for 78 percent of businesses.

More Credibility

Obviously the more valuable content you publish on your business blog, the more credibility you gain with customers and prospects. By positioning yourself as a thought leader, you’ll gain valuable trust that helps to build a brand and generate referrals.

More Traffic

Search engines reward websites that add fresh content. And, this is exactly what a blog enables you to do. By regularly blogging, you’re giving search engines what it is specifically looking for to enable you to rank higher in results. Higher rankings directly translate into more website traffic which ultimately means more sales.

Search engines crawl and index sites with regularly published content far more often than those that are stagnant. By peppering content with relevant keywords and linking between your blog and your website pages, you can improve your rankings even more. Get others to repost your content, and you’ll see an even bigger boost.

How to Calculate Your Return on Investment

While there are some marketing experts that claim that every business should be blogging because it’s free, this is utterly inaccurate. There is a definite cost to blogging. It requires a substantial amount of labor to be successful. While it can be costly, it can deliver a big opportunity. Thus, it’s important to calculate how blogging will affect your bottom line. Here’s how you can do this:

The Investment
  1. Determine how many hours will it take to write, edit, track, and manage the blog.
  2. Calculate the cost to your company in salary or contractor time for these hours.
  3. Add the cost for the design and technology fees for the blog (divide by 12 if this is an annual amount).
  4. Add the cost in hosting, maintenance, and additional app fees (divide by 12 if this is an annual amount).
  5. This total amount is what your blog costs per month.

The Revenue
  1. Evaluate how many revenue-oriented actions are created per month. This should include calls, clicks on your subscription sign up button, or who contacted you through your “contact us” page. For calls, you will need to verbally inquire about the blog’s role unless you utilize a special tracking phone number for the purpose of tracking customers from the blog.
  2. Determine a value for each revenue-oriented action.
  3. Multiply the number of each action by its associated value to calculate the revenue created from the blog.


Your return on investment is your revenue divided by the investment. This will give you a monthly ROI for your blogging efforts.

Hopefully, this has provided you with both some concrete proof that blogging works and how to determine what you can gain from adding it to your existing marketing mix.

Question:

What have you learned after calculating your blogging ROI?

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