Smart consumers consider their return on investment before committing to a pricey purchase. But are businesses effectively monitoring the payback from their performance based digital marketing strategies?
Statistics suggest many companies are not. The most recent study by the Social Media Examiner reveals "only 38% [of participants] agreed they're able to measure their social activities." (And that's only social marketing.) You should also be measuring your return on marketing investment, or ROMI, for ALL paid digital marketing efforts.
Thankfully, a variety of tools exists to make accurately measuring your ROMI a simple, painless process. Here are some of the top performance measuring tools for businesses.
For inbound performance: Google Analytics
It makes sense that one of the top tools for measuring inbound performance comes from Google. Easy-to-use and incredibly thorough, this tool tracks both organic and paid site activity via every metric possible. Google also added new valuable features recently, such as:
- Analytics Intelligence;
- App analytics; and
- Analytics 360.
Tip: Link your Search Console account for enhanced data tracking.
For email campaigns: Constant Contact
Marketers can both send and track e-mail marketing campaigns through Constant Contact's all-in-one Toolkit. E-mail campaigns have recently become a strong component of performance based digital advertising. But without a tool or agency to monitor metrics, such as open rates, their ROMI cannot be measured. Constant Contact makes it easy to manage every e-mail campaign, big or small.
Tip: If you require fewer tracking metrics and prefer a more straightforward email management tool, MailChimp offers a lot of the same functionality in an easier-to-use format.
Simplest CRM: Hubspot
When it comes to a basic platform with easy-to-use features and a ton of analytic data, Hubspot takes the stage. Those new to customer relationship management (CRM) tools and their outstanding organizational benefits will find Hubspot is a great starting point.
Since their CRM is free, the basic features aren't very complex. Professionals ready to take on more intricate tasks have the option to upgrade to a paid platform.
Not sold on Hubspot yet? See how much you could increase your ROMI with this calculator:
Tip: If you dive in and find yourself struggling, contact our team. We can help with training and the implementation of Hubspot into your organization.
Not sure how to get ahead using performance based digital marketing? We're here to help! Contact us to learn more about increasing your ROMI.