Do you know how to measure any ROI from a digital marketing campaign?
Digital marketing is always changing and growing, this has been caused by Google update algorithm and higher competition from businesses globally using the internet for promotions of business online via Internet.
What is Digital Marketing?
Marketing is an effort or action which is caused by business to promote its products or services. And it includes researching to learn more about your target marketing, developing advertisements, and making special offers.
Moreover, digital marketing is any marketing which uses digital tools and technology. SEO, content marketing, and email marketing are some of the common digital marketing efforts.
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What is ROI?
Return on Investment or ROI is the efficiency of a particular investment. Essentially, it measures how much value you will get in return for the resources you put in.
Unique Monthly Visitors
This metric tells you about the number people which visited your website on monthly basis. You may not know how valuable this traffic is to your website. You can track this directly using Google Analytics. You could even search the traffic by search such as paid, organic, social, etc.
Cost Per Lead
This metric is usually associated with paid traffic and is directly calculated in AD words which are called cost-per-conversion. On the other hand, organic traffic is not paid on per lead basis instead you pay for SEO strategy and content marketing.
Cost Per Acquisition
This tactic will tell you what you are paying to acquire an actual customer. You could only look at this in real-time for paid campaigns and it doesn’t apply to SEO efforts. Instead, you could blend the two lead sources and see the actual customer acquisition cost across your digital efforts. Moreover, you could calculate CPA by your total digital marketing spends divided by your number of acquired customers.
Average Order Value(AOV)
AOV is used to for E-commerce stores. It tells you how valuable your customer is in each instance that they purchase. If you are an owner of an E-commerce website then you can multiply AOV by the repeat rate to get more valuable metric.
These are some of the tips which would definitely help you to track your ROI for your digital marketing efforts.