Signs you need to start tracking marketing ROI.
As a business owner, it’s natural to feel busy and rushed off your feet. Do you often feel so overwhelmed with running your business that you sacrifice staying up with what’s new in marketing and managing vendors? Sometimes it’s so easy to get caught up in the day-to-day that you overlook a critical aspect of marketing – measuring your return on investment (ROI).
Here are a few signs that signal that you need a system to track your marketing ROI.
#1: You aren’t sure what sources are driving leads.
Do you know how many phone calls your social media marketing drove? Can you compare that to how many calls you got from your search advertising campaign? It might be time to upgrade to a marketing system that tracks these details on a routine basis and provides you with 24/7 reports. Even small businesses can enjoy get this info, and doing so can provide huge dividends. When you know what is driving your inquiries, you’re able to hone in on that marketing tool.
#2: You rely on notes and memory to track conversions and sales.
Look for a system that manages and records the whole conversion process – from citing the source of every conversion like a phone call, email, or web form, to capturing the lead’s contact information in one digital system. This way, you won’t have to find a scribble on a piece of paper to know where a prospect or customer stands.
#3: You rely heavily on intuition rather than statistics.
Although there’s something to be said for intuition when it comes to running your business, marketing is something that can and should be measured. Make sure your marketing vendors are providing clear reports that help you see how your marketing programs impacted the bottom line.
To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.