Improve your marketing ROI with these tips
In marketing ROI (Return on Investment) matters most as it is the ultimate thing that indicates the success or failure of your campaigns.
Marketing Land columnist Rex Briggs has shared five hacks that can help brands improve their marketing ROI.
Briggs says, “First, let’s lay to rest the idea that a channel or marketing effort has a static ROI or an ROI independent of the entire marketing mix. When trying to assess the return on one’s marketing investment, it’s essential that the effort is measured holistically. Managing marketing channels separately and using siloed measurements fails to show any interaction effects. Marketers’ jobs might be somewhat dependent on their ability to measure what’s working, what’s not, and just as importantly, what may be helping or hindering the overall marketing effort.
Leading marketers are quickly adopting Unified Measurement/Total Marketing Measurement models — a new category coined by Forrester and Gartner respectively. The concept is the evolution of measurement methods to provide one integrated, holistic view of marketing effectiveness. Most significantly, however, a unified measurement approach gives marketers new capabilities to leverage interaction effects between channels, creating a 1 + 1 = 3 effect.
These integrated solutions deliver insights to marketers to better model the impact marketing and advertising are having at the person level. The approach has the dual benefit of strategic insight and tactical decision-making: integrated solutions help guide investment in different media coupled with methods to best match creative, copy and messaging across every channel — both online and offline”.
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