Measuring your company’s initiatives shouldn’t be based on your revenue or customer acquisitions alone. What’s more important with marketing campaigns is your return on investment.
To ensure your ROI remains high, use the data insights at your fingertips and follow these three tips.
1. Don’t waste your time on vanity metrics
While some metrics may look impressive, they won’t always tie into your campaign’s success. Instead, they’ll just distract your team from what marketing metrics are more closely tied to revenue and your ultimate ROI.
For example, if you’re running a Facebook ad campaign, the number of impressions each ad gets may certainly look good, but to properly track your campaign’s ROI, you should pay more attention to clicks and other forms of engagement that correlate to lead and revenue generation.
2. Don’t be impersonal
Get personal. You have more customer data at your fingertips than you think. And sometimes discovering valuable insights from your data is easier than you’d expect.
One of the best places to go for customer data is your own customer relationship management (CRM) system. That’s where you should be tracking things like purchase history, marketing campaigns that leads responded to, industry, and location.
From there, and with the help of proprietary data services like EDA or RigDig, you can use that data to personalize emails, send targeted ads, and run campaigns built around any segment of your audience.
3. Don’t stop trying to top yourself
Testing, testing, testing. That’s the key to exponential company growth and customer engagement.
Increasing your ROI means that each campaign should be improving and changing along with your findings and customer preferences. The layout of an email, the placement of an ad, the focus on specific benefits, and even the color of the CTA button can be more or less engaging to your customers, so use A/B testing when crafting marketing campaigns to see what changes, however small, you can make to improve your ROI.
To boost your return on investment as much as possible, make sure you use everything you have at your disposal, especially data. Customer data and insights from A/B testing will help you craft a highly personalized campaign, while marketing metrics will give you the knowledge you need to adjust your campaign as it’s running for the highest ROI possible.