Digital marketing has several advantages, the most significant of which is measuring your Return On Investment (ROI). Accurately assessing digital marketing campaign results allows you to distinguish between what works and what doesn’t. By making informed decisions based on fact, you will continually improve your marketing and optimize results—and sales.
Your website must contribute to increasing your business revenue. By accurately measuring your performance, you can determine the effectiveness of your website and its contribution to the growth of your business.
Google Analytics
Monitoring your visitors’ activity on your website is the basis of numerous strategies. With tools such as Google Analytics, you can know the:
- number of visitors
- pages visited
- source of the visit (Google, social media, newsletter, etc.)
It is essential to identify and define objectives for your website. For a website visit to be considered successful, what does your visitor need to accomplish? A basic Google Analytics configuration provides several answers, but can often generate more questions. It is important to invest the time to configure your Google Analytics profile properly.
Objectives can differ, but they must align with your strategy and business. Success can be considered as a:
- completed contact form
- launched chat request
- completed online purchase
- phone call to your business
Attribution
When it’s time to calculate your ROI, one of the biggest challenges is attribution. If a campaign uses different channels—such as radio, TV, AdWords, and Facebook—how do we determine which works best?
The path used by your customer before reaching your objective is often long and winding. It may involve several points of contact. If a customer saw your ad on Facebook and then performs a Google search to find your website, what generated this success? Who gets the credit?
Several tools and models allow you to evaluate the effectiveness of a communication channel. By default, Google Analytics and Google AdWords use a model where the last channel gets the credit. Although this model cannot address all situations, it can be customized to meet your needs. In many instances, the challenge is to make yourself known and attract your target clientele. In this context, you may want to customize the model to provide more importance to the first communication channel, which is the one that first spurred your customer to take action.
Dashboards and analysis
In order to make decisions based on fact, it is important to obtain information from several sources of reliable data. Once collected, this must be compiled, centralized, and displayed on a business dashboard represented by Key Performance Indicators (KPI). These will allow you to analyze achieved results in real time and adjust the digital marketing strategy, as needed.
By collating and centralizing your expense and revenue information, you will be able to determine your ROI. Our team can help you implement customized dashboards in order to continuously measure your global performance. Based on the achieved results, you will be able to quickly make any required corrective measures to your digital strategy.