One of the biggest challenges companies and marketers face is measuring the ROI of their marketing campaigns and efforts. It is easy to track data on actions such as site traffic, contacts, and actual sales, but determining which marketing tactic will lead to such actions can be difficult. By using marketing automation software, you can link your sales with marketing campaigns and determine which campaigns are performing and which are falling short.
If you haven’t adopted marketing automation yet, how are you currently measuring the success of your marketing campaigns? Website traffic and website contacts are always beneficial, but it is difficult to determine where exactly this traffic is coming from and how the users got to your site. Similarly, looking at impressions, clicks, and CTRs on a digital campaign can determine how successfully the campaign is running, but without connecting this information to sales, you can’t truly gauge your ROI.
How are you tracking all your measures of success? Are you personally asking your clients how they found you and keeping track of their responses in an Excel document? The issue that arises with this method is the disconnect between marketing and sales: the process is not streamlined or organized. Similarly, using CRM software or Google Analytics can create a disconnect between marketing costs and sales.
Bridging the Gap
Marketing is the generation of advertising material to support sales; sales refers to the interactions you have with clients. Marketing and sales need to be integrated for the business to be successful and grow. Sharing data between the marketing and sales departments can help streamline the marketing effort, and it can provide the sales department with the tools and information it needs to make the sale. The use of marketing automation does just that.
Attributing Sales to Marketing Campaigns
When you use marketing automation software, you can track sale numbers and apply them to the known marketing campaign cost, ensuring a direct and accurate measure of ROI. Below are the ways marketing automation helps you determine your correct ROI.