Let me ask you a question… Do YOU measure digital marketing ROI?
More importantly – do you know why it’s essential that you should?
What You Measure, Improves.
Peter Drucker, often referred to as the founder of modern management, once said “What you measure, improves.”
When it comes to digital marketing in a business sense, the main objective is to achieve “Positive ROI” – but if you’re not able to measure digital marketing ROI — you can’t determine if you are being successful or simply wasting your time and resources.
Why I Learned to Measure Digital Marketing ROI
Whenever I start working on a new digital marketing campaign, the first thing I start with is establishing how I will measure digital marketing ROI for that campaign.
Without being able to measure the return on the investment made, there is simply no way to track what’s going on and optimize the campaign until it actually works.
Great Digital Marketing Campaigns Are Not Born – They Are Made.
As a digital marketer having managed and invested millions of dollars on different marketing campaigns, and having to produce results from those investments, one of the most valuable things I have learned over the years is that practically all digital marketing campaigns start at a loss.
There is no shame in that, even the best of the best digital marketers begin most digital marketing campaigns at a loss until they find out what works.
Then once they figure the campaign out and know what is producing positive results, they scale the campaign up and profit from their efforts.
At that point, the more money invested – the bigger the return they get.
The Importance of “Buying Data.”
When a digital marketing campaign is first launched, the initial stages are all about “buying data” rather than generating positive business results.
This is why I always begin every campaign by establishing how I will measure digital marketing ROI for that campaign.
The whole goal of any marketing campaign is to drive positive ROI.
If you do not find a way to track and measure that ROI, you’re simply wasting your time and resources.
Do YOU measure digital marketing ROI in your campaigns? What ideas and strategies have you learned about measuring digital marketing ROI and how are you implementing them?
Let me know in the comments!