Having trouble measuring your marketing ROI?
How do you measure brand awareness? Many businesses treat brand awareness as something intangible; a metric without a rubric. They know it’s important to be a recognised name, trusted by customers and respected by competitors, but establishing just how trusted and respected they are remains something of a mystery. Digital marketing specialists don’t always help: they see success on their own terms rather than on those of the business as a whole. If they’ve made a video and it’s had a million views, a thousand shares, and half a dozen influencers have talked about it on LinkedIn, they’re happy. But you’re not just making content for the sake of putting it out there. It’s there to do some good for your business: to make some demonstrable impact on the bottom line.
Two out of three business leaders who’ve signed up to our Return On Marketing Investment webinars aren’t measuring marketing ROI at all. We’re not saying this to call them out - far from it. They know ROI is important, they want to know how best to measure the results of their marketing efforts, but they weren’t sure how to make a start. Here’s how.
Successful marketing begins with a rock-solid strategy. Your company’s goals, how might you achieve them, your marketing plan, creative and – of course – finances are all essential elements. But whether you’re planning for the 12 months ahead or implementing shorter projects throughout the year, even the best-laid plans will fall short without a well-considered budget. Setting the right marketing budget can be a minefield. Sharing notes with our Liberti group partner, The FD Centre, we’ve compiled a list of five budgeting pitfalls to avoid at all costs.
We’ve already looked at lead generation (and how it’s not the be all and end all of marketing) and big ideas (which are useless without informed predictions to back them up). In the latest instalment of Marketing Mythbusters we’re looking at one of the biggest misconceptions around - Return on Investment. To put it bluntly: too many business leaders believe marketing is nothing but a cost, an expense that doesn’t pay off in real terms.