The ROI Guy: Tracking Your Marketing: How Much Is Enough?
To Increase Your Marketing ROI, First You Have to Know What It Really Is!
Hi, Richard Seppala, the ROI Guy. In scores of crime TV shows and movies where they’re trying to bust a crooked operation, an investigator always ends up saying, “Follow the money.”
Well, that’s not a bad expression to live by when it comes to your marketing.
In the past, most marketing tracking systems simply used a unique phone number on every campaign to track their success. How many people called a certain number would indicate how many leads responded to the campaign that number was linked to. Whichever campaign generated the most calls would be deemed the biggest success.
One major, major problem: those marketing tracking systems didn’t follow the money. In other words, knowing the number of leads generated was only part of the story – but how many of them actually ended up as paying customers because of that marketing?
In the past, that was just too complex a question to be able to answer. It would require technology that could follow a lead past the initial contact and through every point in the buying process.
The service I initially offered my clients was a simple call tracking system that would tell them automatically how many leads a campaign generated. I knew it wasn’t enough, and we went a step further, developing “The ROI Bridge,” a system that captured contact information from incoming leads, recorded and transcribed their phone calls, and uploaded their info into our clients’ CRM software for easier follow-up marketing.
Although I didn’t think about it at the time, this was actually a step closer to “The Holy Grail of Marketing” – determining the True ROI of a campaign. By enabling my clients to automatically put leads into their system, the foundation was built to continue to follow those leads to see how far into the buying process they traveled.
It all came together for me when one of my clients discussed the need for a tracking system to see how much money a marketing campaign generated as opposed to their costs. He and I both knew that knowing the simple number of leads wasn’t enough – we needed to “follow the money.” Because that’s what counted the most in any business.
Working with my tech team, we were able to put the pieces together to finalize “The ROI Matrix,” my new service that actually does determine the “True ROI” of a campaign down to the penny. All that’s required on my clients’ side is a few keystrokes to tell the system what’s happening with a lead (they are prompted to do this with automated emails sent to their staff through our system).
Knowing how much money a campaign makes versus how many leads it generated can make all the difference in the world. And it’s really the only way to determine the actual effectiveness of marketing and advertising – and how to improve their ROI.
Visit www.YourROIGuy.com for more information on “The ROI Matrix” and how to make the most of your marketing. We’d love to help you “follow the money!”