Is There any Real ROI to Digital Marketing

Digital marketing is a catch-all term that does not guarantee results for websites and Internet businesses. As a Toronto digital marketing agency, we routinely encounter businesses who have tried digital marketing only to see money spent for little return. This understandably prompts the question, is there any real ROI to digital marketing – of course there is, if you know how!

If your Digital Marketing Strategy isn’t working…

Just because you have a marketing strategy doesn’t mean it’s going to work now and forever. If you’re not generating the expected agreed-upon return from an ongoing digital marketing strategy, make a change. Don’t continue investing in something that isn’t working.

In many cases, we find that it’s not the whole of the strategy that isn’t working but rather, it’s a specific component. Maybe you’re generating a wonderful amount of leads and yet, the conversions aren’t there. Maybe it’s your web design or landing page that needs adjustments rather than the marketing channel you’re investing in. Check your analytics to see clearly where you’re going wrong.

Digital Marketing ROI is not Easy to see for Some Businesses

This year, at least 20 percent of businesses have participated in some form of digital marketing. Those that do engage in digital marketing oftentimes see higher revenues, higher conversions, and better business. Those that don’t are left behind. Thereby, there’s absolutely a reason to get involved in digital marketing. That said, before you launch a strategy, you should know what the objectives is.

For most businesses who engage in digital marketing, the purpose is to increase sales. Even if a business owner doesn’t understand how digital marketing works, they know what increased revenues look like. If you’re looking at other objectives for your marketing, that’s not a problem. Just know what you’re chasing and what metrics to look at to get you there. If you know what to pay attention to, you’re not going to feel like there’s a lack of return.

Don’t be Afraid to move in a New Direction

A big barrier to businesses moving into digital marketing is a reluctance to invest in strategies and/or to make changes to their current marketing. For any business looking to move ahead, they can’t be afraid of taking a chance.

Sometimes, a new direction might mean shifting to a new marketing channel, like SEO, PPC, email marketing, social media, or something else. Depending on what’s most appropriate for your website, a different recommendation might need to be made. Each channel comes with a collection of benefits, depending on conversion rates, revenue per leads, total revenues, and more.

Where to Start in Building an ROI-Friendly Digital Marketing

For first-time digital marketers, a digital marketing campaign can start with identifying buyer personas and mapping out your buyer journey. A customized strategy keeping the audience in mind is key to long-term digital marketing success.

Next, do your research. Compare yourself to your competition’s website, visit Google reviews and see what your competition’s reviews are like, and evaluate your competition’s social media engagement and presence. By learning about what your competition is succeeding at, you may find some opportunity to mimic what’s working with them and apply it to your brand. Then again, you might see what they’re doing wrong and generate ideas on how to improve upon their marketing.

For more information on how to generate real ROI in digital marketing for your website, contact Unlimited Exposure.