You write messages, send tweets, and upload videos to YouTube every day, among many other marketing activities.
You create all this content, but it is not enough to paint a complete picture. What do these activities contribute to the company’s financial results? Without proving the ROI of your investment, it is almost impossible to justify your marketing budget.
It is not news that companies want concrete data on the contribution of marketing. In one study, 93% of CMOs agree that they are under pressure to deliver a measurable ROI.
How do you get access to the analytics you need to effectively measure the ROI of online marketing? You need the right tools. This article focuses on five tools that provide information about marketing results and how they relate to sales.
But before we discuss each tool in detail, how do you calculate your marketing ROI?
- Start by defining the marketing objectives for each campaign
- Identify and name the KPIs you will use to track your campaign’s success based on your goals.
- Third, assign values to your KPIs to help you measure results correctly
- And when the results arrive, you can use this basic formula to calculate your marketing ROI:
ROI = (investment income – investment costs) / (investment costs) × 100
- Google Analytics
Although Google Analytics is a free tool already used by most marketers, there is little to dig deeper into the criteria. Simply put, you can use Google Analytics to track the results of marketing campaigns on your website.
For example, you can track your traffic sources and see the performance of visitors from each source on your site. Another important feature is the behavioral flow, which shows how visitors navigate the pages of your website.
One way to measure your marketing ROI is to get details about your website visitors and the actions they take when browsing your pages. Fortunately, CANDDi provides important statistics about visitors that can help you measure your ROI.
First, you will find the following details:
- First name
- Number of visits
- Time on site
- Number of activities
- Company/employer name
What events take place on your site? This is a question that Mixpanel can answer effectively. As an analysis tool, it helps you track the events on your website and provides information about the events.
Among its many features, Mixpanel allows you to view a detailed user profile: you will find details about the pages they viewed and their conversion path. That way, you can easily assign the right marketing campaign to the conversion.
It is a comprehensive marketing analysis tool that allows you to track different marketing campaigns on different channels. To do this, you can add widgets for various purposes, like this:
- Web analytics
- Sales and finance
- Social media
- WHILE THE
With Finteza, you have a web analytics tool that provides details about your website traffic and the actions taken by visitors. You get details like location, device, organization, and more.
You can also monitor the quality of the traffic to see the clean traffic section. Another important feature is the ability to identify the sources of traffic to your website. Click on the reference source to see each reference source in more detail.
Measuring ROI for marketing provides insight into how your marketing campaigns contribute to a business. Also, you can optimize the performance of your future marketing campaigns.
If you are looking for these five tools, you will have no problem justifying the impact of your hard work as a marketer.