The measurement of ROI: how much it can be improved.
The results of HubSpot's research study on the State of Inbound, indicate that the majority of marketing professionals worldwide are mainly focused on...
- Convert sales opportunities in clients.
- Increase web page traffic.
- Increase customers sales and
- Demonstrate the ROI of marketing activities.
Maybe this four items ring a bell to you, maybe just one of them or all of them. In this blog we want to go deeper into the problem: the measurement of ROI and how colleagues are working to improve it.
*Source: Hubspot Inc.
What happens if we incorporate a marketing automation platform? Obviously, taking care of a thousand tasks at the same time, with different isolated tools, consumes time and therefore money. This gets worse if to concatenate actions we have to analyze each task in particular and manually program posts in all our networks, for example, or e-mails, campaigns or blogs. But back to the topic of ROI, how much can it be improved?
Omnichannel marketing platforms like HubSpot or Prisma Campaigns are digital platform that offers a complete proposal of products for marketing, sales and customer relations, which are powerful by themselves but better when used together. These are tools designed especially for the inbound marketing methodology and its three stages: awareness (attracting strangers to become visitors), consideration (turning website visitors into potential customers) and decision (converting potential customers into actual customers).
Based on this methodology of three stages, Prisma Campaigns analyzes the ROI of its clients. The results of a survey and the analysis of the data of its sites during 30 months revealed that:
- Number of visits to the website increased by 3.3 times each month within the first year.
- Conversion of clients increased by 3.5 times each month within the year.
- In relation to customer closure, 79% of Prisma Campaigns customers had an increase in sales at the end of the year.
By increasing the results in all stages of the marketing and sales funnel, Prisma Campaigns manages to make 90% of its customers happy in marketing, helping them achieve their goals and increasing satisfaction of their customers customers by 60%.
On the other hand, as mentioned above, being a centralized platform, it allows you to reduce costs that come from the use of different software or tools used for each specific activity: social networks, email marketing, monitoring of your website, content optimization, writing of blogs, etc.
The savings arise from the elimination of difficulties, a smaller amount of work on integration, data migration, tracking of workflows and confection of reports. Because with an automation platform we will not only find everything in one place, but also when the tasks are automated, we add value to the work without dedicating extra time.
Prisma Campaigns, for example, uses artificial intelligence to help you constantly nourish your contacts with relevant content that will drive them on their consumers journey.
What should we take into account to calculate the ROI in inbound marketing?
The volume and traffic on the website, the percentage of conversions, the number of prospects, the closing percentage and the number of customers generated. Not only in a general way but taking into account the specific results of each activity. Knowing the sources where your prospects come from will help you know where to put your resources, efforts, what aspects are pending and what path should be taken in order to improve. The ideal is to have a tool that allows you to measure in real time several variables that can be crossed or isolated according to the needs of analysis.
Now, thinking about each of the objectives, what are the most important metrics?
In generating traffic:
- The percentage of increase or decrease of traffic to the website according to different sources. Eg: organic search, social networks, email marketing, blogs, recommendations, etc. They can also be analyzed according to each campaign.
- The optimization ranking of your website. Prisma Campaigns, in this sense, has its own Marketing Grade: an integral measure of the online presence of a site, according to a specific scale from 1 to 100. It considers the performance of your site, the blog, the optimization and inbound links, between other variables. However, there are also other measurements, such as the traffic trend or the moz rank.
- Ranking of blogs, landings pages, emails more watched monthly.
- Participation in Social Networks: reach, number of followers, likes, shares and comments.
- Participation in the site: CTAs with better performance.
In generating prospects:
- Amount of content created in relation to the number of prospects.
- Landing pages conversion rate.
- New blog subscribers.
- Performance by source in relation to prospects: generated by e-mail, by social networks, by organic searches.
- Click-through rates of emails.
- Number of reconversions by workflows or thank you pages.
- Activity according to Buyer Persona.
In generating customers:
- Number of businesses closed by campaigns.
- Number of businesses closed by workflows or sales tracking processes.
- Origin of the contact that became a customer.
- Client analysis by Buyer Persona.
- Number of customers who had at least one interaction with marketing.