ROI is the goal and the driving force behind achieving results for every digital campaign. Every layer of your funnel every step in the process is designed to achieve a goal. These events are called conversions, whether it’s an opt in or retrieving data in the form of an email address, phone number or ultimately a sale there are a lot of variables which affect the ROI. The amazing thing is, we can track these data points, optimize them and improve efficiency on ad spend.
*PHOTO CREDIT – IFF INTERNATIONAL
As a digital marketer, it is our responsivity to analyse the events created by our target audience and show each campaigns performance. To do this, we will be measuring different types of activity, depending on our goals for each campaign.
From the client’s side and point of view, the client’s expectation is a dual one. Monetary and Time are two key elements in the expectation of the ROI.
So, let’s take a look at the type of campaign goals and how you can measure them. The first step in determining ROI is identifying the metrics by which the campaign will be analyzed. And those metrics should allow analysis in real-time, so that you can track the performance indicators you have identified.
For Lead Generation Campaigns
The goal of these campaigns is to bring customers to the top of a sales funnel. One of the things that we track is where those leads are coming from. Depending on the strategy the campaign may include blog posts, Facebook ads and posts, Google ads or YouTube links or redirect links from other sources, etc. To really analyze the performance of a campaign, you will need to know the sources of your traffic. The results can be analyzed by:
- Increase in website traffic
- Facebook Pixel Events tracking code
- Live chat conversations in responses to questions/requests
- Opt-ins into the funnel step
- Attendance at webinars, podcasts, and live events, along with acquiring contact information of attendees
- Lead volume, i.e. lead capturing
What is Considered a Good ROI?
We find average bench results across the internet, but a good benchmark is 3%. According to a study by Nielsen, the average return on ad spend is 2.87:1, meaning for every $1 spent on advertising, the average company makes $2.87. However, we strive for a higher ROAS.
From our experience and a previous campaign result we achieved the following in one week.
Facebook Ad Spend: R1502.59
Salon Leads: 12
Salon Bookings: 4
LTV of Client: R2080
Turnover: R2080 x 4 = R8320
ROI on Leads : 30%
ROI on ad spend: 554%
Results may vary and every campaign is different, but we strive to achieve the best results for our client. These results were achieved in one week. Therefore, we can ensure a money back guarantee with 30-50 leads a month.
In conclusion, campaigns are live, meaning results are instant and they come in fast. We will see leads come in within 3 days. Converting those leads are up to the client, but we will help train and guide our clients in order to achieve high conversions and ultimately paying customers.
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