Digital marketing strategies might be pricey, but they are vital. A strong web presence requires a robust digital marketing plan in place.
Businesses have more opportunities to reach out to their target customers in the digital age. With so many options, deciding on strategies that would provide the highest return on investment (ROI) can be tricky. We recommend you consider the research-driven approach and experience of an excellent digital marketing agency. This article aims to inform you about all you need to know about digital marketing ROI.
Let’s start by defining ROI in the context of digital marketing.
In simplest terms, ROI is used to determine how effective your digital marketing efforts are and if they’re worth repeating.
The best method to tell if you’re spending your money diligently is to look at your return on investment (ROI). ROI is a number that compares how much money a company can anticipate making from digital marketing initiatives vs. how much they cost. The greater! The favorable ROI.
What are the Important Metrics in Digital Marketing ROI
You should focus on these six key metrics when measuring digital marketing ROI:
- Conversion Rate
- Cost Per Acquisition
- Cost Per Lead
- Return On Ad Spend
- Customer Lifetime Value
- Unique Monthly Visitors
You can evaluate your SEO marketing efforts by looking at how many visitors found your site through organic searches ( use the expertise of a digital marketing company for this). If referral traffic is your primary traffic source, content marketing and link building are most likely producing results. Google Analytics can provide statistics on traffic produced from various sources.
Calculating the return on investment (ROI) for digital marketing is easy.
Primarily, the fundamental formula is used:
ROI of Digital Campaign = (Revenue from Campaign – Cost of Campaign) / Cost of Digital Campaign
The main aim of digital marketing is typically more traffic and conversions and ultimately more revenue in the long run. So, in terms of ROI, what constitutes a successful digital marketing ROI?
Most digital marketers aim for a 5:1 average ROI (Anything less than a 2:1 profit ratio is deemed unprofitable.) A marketing ROI of 10:1 or above is exceptional.
Let’s learn about the most acceptable tactics for achieving digital marketing success across various channels now that you’ve learned about digital marketing ROI.
1. Conversion Rate Optimization
Increased website conversion is the critical business goal (it significantly influences revenue). Unfortunately, the average rate is between 1 to 3% only.
Some tips to take your conversion rate optimization to the next level:
- Keep your website user-friendly and responsive.
- Try landing pages and other digital features.
- Avoid Popups or forms asking for too much information.
2. PPC Services
Paid ads give a 200% ROI!
Advertisers pay per click, i.e., every time one of their ads is visited. This mode of payment comes under a pay-per-click form of internet marketing. For example, paid search is one of the most successful digital marketing platforms.
3. SEO
Thanks to search engine optimization (SEO), your consumers can find you online. It maximizes your search engine rating for keywords relevant to your business.
We’re the best digital marketing company in Bangalore, and our SEO professionals can help you earn revenues and ROIs easily.
4. Email Marketing
Email marketing is an excellent method to keep in touch with current and potential consumers. It promotes your products or services via email. It’sIt’s one of the most efficient methods for reaching and engaging your target audience.
The following are examples of several sorts of emails you might send: – transactional emails – welcome emails – promotional sales emails – – invites and reminders – blog updates – upselling emails, etc.
5. Social Media Marketing
This marketing method involves creating and sharing content on social networking sites.
Influencer marketing is lucrative. 93% of marketers have used influencer marketing in their campaigns. This year, the industry sees a growth prediction that’s a staggering $16.4 billion. Some statistics as observed this year are:
- Video advertising on Facebook to get greater engagement than images.
- Instagram is the preferred social media channel, and 83% of its users turn to it to find something new.
With active users on social media beyond billions, investing in social media marketing may be an effective way to boost brand recognition, improve sales, and interact with your target audience.
Final Word
Trends, technology, and tactics in the marketing industry are constantly evolving. That’s why your company needs to keep up with industry upgrades. An excellent digital marketing company helps your business stay ahead of the game.
Take chances and trust your instincts.
Expand your business and your online presence. We’re the best digital marketing company in Bangalore – our strategic and creative blend unlocks and accelerates your brand beyond. Contact us for unique digital marketing and strategy.
