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Measuring your digital ROI

Do you know the return of your digital marketing efforts?

What happened to the promise of measurability of digital marketing?

20 years ago, when digital marketing came to the scene, the dark days were over. From that moment on, everything in marketing would be measurable, every sales result attributable to a specific marketing investment, no more waste... Or so we thought!

Read our tips and download the infographic below.

Wanamaker 2

See the results of our new survey and grab some advice along the way?

Download Infographic

Infographic

Today, with millions of euros and dollars invested in digital analytics and an ever growing range of tools, it is time to be humble again: Our third  'Digital Marketing in Belgium' survey, showed that more than half of digital marketers don’t know which percentage of total revenue can be attributed to digital marketing. And even worse, ignorance about the effectiveness of digital marketing seems to be growing when we compare this year's results to our previous surveys.

It’s time to take a step back…

To be able to determine the ROI of your digital marketing efforts, you need to have a clear view on what you want to achieve, how you will measure the results of your efforts and which channels you will use to attain those goals.

… and apply our following 4 expert tips:

1. Align your online marketing goals with the overall business goals

If you want to have a clear vision, it is mandatory to take a step back. It is crucial to align all marketing efforts and tactics with the overall business goals of your company, both online and offline. Once those business goals are translated into marketing goals, you can define the KPIs. In other words: ask yourself the question how you will evaluate your online marketing efforts?

The next step is defining the metrics you will use to measure the results of your efforts, so you will be able to report back on your KPIs.

2. Evaluate the current situation

Once you have a clear view of what you want to achieve and how you will measure it, it is time to evaluate the current efforts you have running.

A digital performance audit will give you the necessary insights to benchmark where you are today. Comparing the results of the audit and the KPIs you defined, will show you where the opportunities lie (new channels, different target groups, etc.) and where you need to optimise existing efforts.

3. Draw up an optimising plan

Once you have your strategic framework in place, you are ready to think about tactics, channels and new initiatives. By now you will probably have a long list with different tasks in order to optimise your online marketing efforts.
But of course you will not be able to execute them all at the same time.

It is important to prioritise the different tasks. A good way to do this is to determine the level of efforts needed for each task and put it next to the expected results. This way you can start with quick wins that will show immediate results and work your way down to more time-consuming projects.

Creating an optimisation plan will give you the necessary guideline to successfully implement your new initiatives and optimisations. In this plan you list the different projects, the resources you need and corresponding deadlines.

4. Report automatically

In order to measure your efforts and report them to your team members and management a good reporting framework is mandatory. We all know that this can be a time-consuming job.

Taking the time to set up an automated reporting system is a great way to avoid spending hours on collecting data, and will enable you to spend time on the thing that really matters: interpreting the results, drawing the right conclusions in order to optimise where necessary.

A custom analytics dashboard can already help you a lot to get those insights. If you want to take it a step further and link your online marketing efforts to business results, a real-time reporting dashboard like Klipfolio can be a good long-term investment.

The promise of digital marketing that it would make every marketing effort measurable wasn’t a lie. We dispose of more data than ever. The difficult part is measuring the right things, collecting meaningful data and drawing the right conclusion for your business.

We can help you to better measure and understand the outcome of your digital marketing efforts.

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