Digital marketing is the fastest growing sector in advertising. Content marketing, social marketing, email marketing, and other online activities geared toward attracting and winning business are the specialty du jour of marketers today, but to what end?
Should your business be investing in digital marketing as a sustainable means of business?
What’s the ROI for Digital Marketing?
When deciding whether to use any kind of marketing, breaking down your return on investment is a good first step. In a nutshell, if you spend $1,000, how much new business will you get back? If it’s less than $1,000, that’s a negative ROI (bad), but what if it’s $5,000, $10,000, or even $50,000? That’s more like it!
It might surprise you to know that digital marketing has one of the strongest ROIs of any marketing discipline. Email marketing in particular has an astounding 28.5% ROI! Blogging (i.e. content marketing) and SEO efforts are all touted time and again by online marketers as some of their highest ROI channels, especially since these avenues continue generating ROI far past their launch.
Digital Marketing’s ROI Speaks for Itself
Like any marketing effort, digital marketing ROI calculator must look at all efforts holistically. A digital campaign is more than the sum of its parts, so determining ultimate ROI has to include everything from investments in mobile technology, paid ad spend, the time cost of creating content, and so on. Over 81% of marketers say they’d like to spend more on digital, if only they could better track ROI!
Good news. Working with a digital marketing firm helps put parameters in place that track measurable data like conversions and clicks. Digital marketers often utilize software platforms (think: Hubspot) with analytical tools that can both report and suggest on meaningful activities. Remember, though, that there’s only so much software can do. Truly effective marketing contains many elements – campaign planning, content creation, lead cultivation – that simply take human experience to do well.
Hiring an excellent digital marketing company is the surest way to improve your ROI. Synchronicity has years of experience managing digital brands, from social to landing pages to PPC.
Give our team a call today to talk about your digital marketing ROI goals.