How do I measure marketing ROI?

The goal of any business, regardless of the industry, is to return a profit.  If you’re investing your company’s money into marketing services such as digital advertising, press releases, and website design, you want to be sure that you’re at least making back the costs you’ve fronted.  To aid business owners in measuring marketing ROI, McCauley Services’ marketing coordinators offer the following tips:

Track the source of your leads:  Maybe it was the compelling content of your latest e-newsletter writing or the attention grabbing graphic design of your current billboard; don’t be afraid to ask prospective customers where they heard about you.  You can do this through internal inter-office notes or you can make it part of your website contact form design, just make sure you’re listening to what your customers are saying about how they found you.

Do your market research:  Thinking about advertising in a new platform?  Don’t be afraid to ask your media representatives for references to see how similar campaigns have fared. While varying factors like industry and content will affect marketing ROI, media reference checks can still be helpful in identifying any major red flags before buying-in or signing any long term contracts.

Use your info wisely:  One thing many companies are guilty of is not using the information they glean from marketing research to change their practices.  By digesting the information you collect from your research and customer surveys, you can change your marketing strategy with more purpose and further increase the likelihood of a higher marketing ROI.

For more marketing tips or to consult one of McCauley Services’ Account Coordinators, contact their office.  You can also connect with McCauley Services on Facebook, Twitter, and Google + for the latest marketing news.