FEATURED
From Cold Lead To Cold, Hard Cash:
MEASURING THE ROI OF YOUR MARKETING EFFORTS By Romney Navarro, Noble Capital
E
very business lives and dies
return on investment (ROI). There
a social media campaign and the
by its Profit & Loss (or,
are many ways to track the success
“real world”. It’s even more difficult
more accurately, because of
of digital marketing campaigns
to track “terrestrial” marketing
its P&L). Whether you’re a Private
which involve measuring clicks,
efforts such as radio, TV, a magazine
Lender, or you run a hamster rodeo,
impressions, website traffic and
ad or a piece of printed collateral
your business has to take in more
the like. Many marketers consider
money than it sends out. But it’s
a form fill or a click to your website
more than just tracking capital ins
a conversion and use that metric
and outs, you also have to justify
to evaluate the performance of
the return on every dollar spent,
their campaigns, but they’re rarely
including your marketing budget.
able to tie revenue directly back
Whether your marketing efforts
to their marketing efforts. Where
consist of digital or traditional
it gets tricky is bridging the gap
methods, you have to understand the
between
something
digital
like
all the way to the bank, so to speak. How can you calculate your actual ROI on marketing spend without knowing how much revenue you’ve brought in as a result? Digital Tracking Tools Some of the more common methods Cold Lead to Cold, Hard Cash: Cont. on pg. 16
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