3 Ways Agencies Should Measure Marketing ROI
Do you want to provide value to your clients so they will keep you on retainer?
If so, one valuable piece of data you could provide for your agency’s clients is the return on investment (ROI) for specific marketing strategies.
Demonstrating how your agency provides value to clients is especially important as small business owners continue to contend with the ongoing effects of the pandemic.
The more your agency can help them navigate the new normal and the resulting impacts on their marketing efforts, the better.
In this article, you will learn three ways to help agencies measure the ROI of marketing.
Why Measuring ROI Matters To Your Clients
For businesses that generate leads online, it’s crucial to know which marketing activities drive the most leads. While there are free website analytics tools, they are limited in their ability to track certain referral sources – especially when it comes to inbound phone leads.
Knowing the specific sources of leads allows your clients to allot their marketing budget to the most effective strategies. Being able to pinpoint the source of your client’s most qualified leads ensures that their sales team spends more time with higher converting leads – and that your agency is providing valuable data, which can lead to a renewed contract.
How important is measuring ROI? According to a study from CallRail, small businesses love working with agencies that do the following:
- Review analytics with their consulting partners (46%)
- Use call tracking to show the effectiveness of specific strategies (39%)
- Help SMB owners understand their customers (31%)
- Provide good transparency into ROI (31%)
- Improve the quality of leads generated (26%)
- Generate a positive ROI (23%)
Taken together, these survey responses tell a compelling story.
Clients are eager to hire and form lasting professional relationships with agencies who will go beyond the typical engagement parameters. We’ll give you the tools to not only create content but give clients the ability to measure performance to make informed choices on where to invest and pivot their strategies.
1. Measure The ROI Of SEO
Most businesses know the value of incorporating search engine optimization (SEO) into every aspect of a marketing plan, from your website and content to online ads.
Studies have shown that search engines drive more than 50% of web traffic to websites in most industries, with Google bringing in eight times more traffic than all social networks combined. This makes sense considering that Google has over 92% of the global search engine market share.
Track SEO Strategy Results
There are several ways to track the results of your SEO strategies.
You can start with SEO tools like Semrush or Ahrefs that monitor changes in your keyword rankings, number of inbound links, and overall website authority score. These will give you insights into how well your SEO efforts are increasing your visibility in search for your top targeted keywords.
Small businesses that use Google Analytics with conversions setup can also determine whether organic search is driving traffic to their website that converts. 93 percent of small business owners say they invest time in their website analytics to determine the best marketing strategies to pursue.
- Using the Channels report under Acquisition > All Traffic, you can compare the conversion rate of organic search traffic compared to direct, referral, social, paid search, and email traffic.
- Under the Source/Medium report, you can determine which search engine is driving the most traffic and conversions to your website. Beyond Google, most businesses may spot traffic from search engines like Microsoft Bing, Yahoo, and DuckDuckGo.
Use Call Tracking Software
While you can get some guidance, there are still several blind spots to contend with in the data in Google Analytics, so you shouldn’t rely on information gleaned from this tool alone.
This includes the specific keywords that drove organic search users to your website and the number of people who chose to call your business after finding it in organic search.
Using call tracking software, agencies can demonstrate the value and effectiveness of specific SEO tactics. For example, when you can attribute the specific keyword used in a search by a qualified lead, you can set up an SEO strategy that focuses on the keywords that are most likely to convert.
Questions that can be answered using call tracking and marketing analytics software include:
- What are qualified leads searching for?
- What questions are asked most often by qualified leads?
- What pain points are qualified leads looking to solve?
Once you can answer these questions for small business owners, you can assist them in creating more content to attract qualified leads, answer their biggest questions, and help solve their pain points.
2. Measure The ROI Of PPC
Small business owners investing in pay-per-click (PPC) ad campaigns need to know more than which ads get the most clicks. They need to know which ad campaigns and keywords result in the most phone calls or form submissions on their website.
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