How Are You Measuring Your Marketing ROI?

Learn the steps to gauge the effectiveness of your content marketing campaigns

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Whether creating a marketing campaign in-house or utilizing the help of a marketing communications firm, you need to ensure that you are effectively communicating your company’s product benefits to build brand awareness – ultimately driving more sales. But relying solely on sales as a key indicator of your marketing success doesn’t provide real-time input on your successes and opportunities, nor does it give you control to define the effectiveness of your marketing activities.

Content Marketing Driving Campaigns

Before measuring the effectiveness of your campaigns, one must work to make them successful. This starts with content. By developing strong messages and framing content, your company will appear more attractive to media outlets. This will lead to more organic content being published about your company in news articles, industry blog content, across social media etc. Strong content also lends itself to positioning your company as a thought leader. These efforts include publishing byline articles, pursuing awards, events and speaking opportunities. By positioning yourself as an expert in your field you create credibility for you and your organization. Content creation is a key component of the success of an inbound marketing program—marketing that brings customers to you. HubSpot’s 2014 State of Inbound study showed that companies with inbound marketing campaigns had higher marketing ROI.

Once you have these components in place the question remains—how do you measure the ROI for PR and marketing efforts

Return on your Marketing Investment

Fractl’s calculator using defined metrics to measure ROI

Fractl’s calculator using defined metrics to measure ROI

This is a great question. How do we measure the efficacy of a PR or marketing campaign? Before you begin to answer this we need to ask—are you tracking your online, social and media activities? Are you measuring website traffic, links, social shares, media placements? The most comprehensive way to prove to senior leadership that your marketing is working is by tracking this data.

Companies are developing methods to measure marketing ROI. For instance, Fractl, a content marketing agency, developed a calculator to measure ROI by placing dollar values on site traffic, social shares, links and major placements. These dollar values can be customized based on how high they are valued by your company.

Purchase Funnel used in Step 2 in measuring content marketing.

Purchase Funnel used in Step 2 in measuring content marketing.

Another method, promoted by HubSpot, measures content marketing through a two-step process. Step 1 is identifying your different content metrics (consumption, sharing, lead generation or sales metrics). Step 2 is mapping those metrics to the purchase funnel (awareness, interest, desire, action).

Other recommendations to measure ROI are setting up tools such as Google Analytics and SEO toolbars. The common denominator in all of these measuring tactics is tracking your metrics.

I leave you with this challenge: use this calculator, or two-step funnel analysis and measure the ROI from your marketing dollars. If you haven’t tracked your activity, start now.

At Eco Branding, we would love to hear how you faired on your challenge and will serve as a resource to help you identify and address any additional challenges that you face. Let us help you increase that ROI number. E-mail or call us today to learn more about how you can measure your PR and marketing success.

 

Written by

Danielle is a partner and Senior Account Executive for Eco Branding. She is passionate about bringing her communications expertise to the cleantech industry. Danielle has over 7 years of public relations experience in different industries. She has a B.A. from the University of Maryland in Communication and Psychology with a focus in Public Relations. Danielle is a guest contributor for Renewable Energy World and Alternative Energy Magazine. Based in New York, Danielle enjoys hiking, camping, music and good beer!

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