Marketing ROI: Is it Guaranteed?

If there’s one question I hear most often from business owners, it’s “how can you guarantee a ROI for marketing?” It’s a fair question, indeed, but one where the answer isn’t clear-cut. Undoubtedly, it’s good business sense to expect a return when you invest in something for your business; but when it comes to marketing, there are various factors business owners need to consider before axing a tactic that yields a low ROI.

Consider these factors when deciding if your marketing dollars are being spent wisely:

1. What strategy or technique did you use?
   Marketing is a practice that incorporates many different tactics and techniques, and some strategies will have a direct ROI while others will not. For example, if you’re launching a lead generation campaign on Google AdWords, you can directly track the leads coming in from this source, while comparing the profit made from these leads against your budget. You’ll be able to clearly determine if the ROI is there or not. A similar approach can be used for trade shows. Did the revenue made from the show at least cover the cost of the booth and any other expenses it took to attend? Lead generation campaigns will be easier to track, but even still, some level of leniency should be applied when determining ROI. As I’ll explain, not all conversions are immediate, and this is something you definitely need to take into consideration.On the other hand, marketing practices such as branding or content marketing won’t necessarily yield a high ROI for your business. Does this mean these practices aren’t worth your time or investment? Absolutely not. These types of marketing tactics are important to keep your brand relevant and relatable for customers. No one likes a stale brand, and you should think of these tactics as a support to your lead generation campaigns.

2. Is your pipeline robust?
   There’s value in building your pipeline. For every customer that converts into a lead, there are dozens, hundreds, or even thousands of other customers that come into contact with your brand and marketing messages. Some, if not many, of these other customers will result in future sales. That’s why consistent communication with both your current and potential customers is so important. Traditionally, it takes seven touches before someone notices and engages with your marketing message. It’s also why having a strategic marketing mix is vital to your marketing success, so customers are exposed to your brand through various mediums.Even if you have a transactional business, a well-defined brand experience will increase the chances of repeat business. And don’t forget: every customer is an influencer.

So to answer the question of whether marketing ROI is guaranteed: it depends. As business owners, it’s important we see the value in all facets of marketing that may not exactly yield a high ROI; however, I would highly recommend that past marketing initiatives be used for guidance when developing future marketing budgets. If you require assistance with developing a budget or marketing mix, contact CreativeWorks Marketing today!

The “How” of Lead Generation

Last week, I wrote about the Five W’s – who, what, when, where and why – in A Formula for Lead Generation, which outlined how to create a strategy for a lead generation campaign.

As the owner of Creativeworks, a marketing agency dedicated to increasing marketing for SMBs, once we’ve created the strategy for an online campaign with clear objectives and methods, we focus on how the campaign will be executed. As a follow-up to last week’s post, I’d like to share with you a number of tips on how to perfect your online marketing campaign.

1. How to get your audience’s attention: The first step after creating the strategy is engaging your audience.  We have found that presenting an offer of some kind is the best way to attract your potential customer. Think of a type of offer you would be comfortable presenting. The offer needs to be engaging enough to entice the audience, but can’t appear to be too good to be true. Otherwise, your audience will steer clear of it. For example, the offer can be a free download of a whitepaper, a discount on product or services, or a chance to win a prize.
2. How to get their lead information: Customers know that in order to receive an offer, they have to do something. Once you have your audience interested in your offer, they should be on your site’s landing page. In addition to containing details regarding your offer, this landing page should include an online form for visitors to fill out. This is the lead generation acquisition piece, and the questions will vary depending on your individual needs.
3. How to get the offer: Once they fill in the online form, an email will go to you, for lead generation, and an email or similar will go to them, delivering your offer (e.g. offer code, download link, whitepaper attachment).
4. How to process the lead: Once you have the lead information, it is up to you as to how you process it. It should follow a sales process. For example, ensuring that contact is made within 48 hours of receiving the lead, second notice is sent within a week, and after 10 days, a phone call is made.  You have to evaluate what sort of process works for your company.
5. How you look: Ensure that all design and copy elements are consistent with your brand. If the first time your potential customer sees your brand is via this online advertising, it needs to reflect the same look and tone of your brand on your website, and all other aspects of your business.

These tips, plus last week’s tips on strategy, will help you to get started, and to work towards launching an online lead generation marketing campaign. If this all seems a bit overwhelming, or you don’t have the internal resources to take this on, you might want to consider getting some help or advice from a marketing agency.

Have you done any online lead generation marketing, and found promising results? Are you considering online marketing this year? I look forward to hearing from you in the comments below.