These days every savvy company is active on social media, trying to craft content that resonates with their target audience and hoping for a social media ROI. Roping in a prospect through engaging social content may seem like an easy task, but knowing how to quantify your social media marketing ROI is a more challenging task, which Spot On will help you master.
When we meet with prospective clients at Spot On, we often hear something along the lines of “I’m already spending a fortune on marketing.” Our answer? “Yes, but are you getting a return on your investment?” Often, we are met with a blank stare.
Digital marketing is essential in bringing new customers to your business, but if your marketing isn’t effective, you are throwing your money to the wind. Analyzing your ROI, however, is not something that most marketers have a clue about how to do, but the good news is – Spot On is here to teach you how to measure your content marketing ROI.
Today’s businesses spend a lot on marketing – over $2.1 trillion worldwide, according to HBR. But how do we know if all that money is being well-spent? That’s where return on investment (ROI) analysis comes in.
In an ideal world, calculating your marketing ROI should tell you what’s working, what isn’t, and where you should focus your marketing efforts in the future. But that can be easier said than done – according to marketing expert Neil Patel, less than a third of marketing executives feel that they can effectively evaluate the ROI of each channel they use.
In this article, we’ll take a look at how to calculate ROI, what makes marketing ROI (MROI) a little tricky to figure out, and what you can do to improve your results.