{"id":22463,"date":"2016-08-02T10:37:24","date_gmt":"2016-08-02T15:37:24","guid":{"rendered":"http:\/\/blog.crowdspring.com\/?p=22463"},"modified":"2022-10-13T15:57:35","modified_gmt":"2022-10-13T20:57:35","slug":"5-ways-to-tackle-the-tricky-business-of-measuring-branding-and-marketing-roi","status":"publish","type":"post","link":"https:\/\/www.crowdspring.com\/blog\/5-ways-to-tackle-the-tricky-business-of-measuring-branding-and-marketing-roi\/","title":{"rendered":"5 Ways to Tackle the Tricky Business of Measuring Branding and Marketing ROI"},"content":{"rendered":"

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One of the major benefits of the digital age is that marketers now have far more meaningful metrics by which to evaluate the success of their initiatives. It’s no longer just about creative swagger and assumptions regarding your\u00a0audience.\u00a0We have an avalanche of data on consumer preferences and behavior, website usage, content engagement, and more at our disposal.<\/p>\n

It’s enough to make ya giddy.<\/p>\n

With this data comes the ability to quantitatively evaluate the performance of our\u00a0efforts. A landing page, for instance, can be analyzed relative to conversions. Your display ads can be scrutinized according to cost per lead. Your social media posts can be compared on the basis of impressions and engagement.<\/p>\n

But is that really enough to demonstrate ROI on an overall strategy? How do you calculate the dollar value of a shared meme from your Facebook page? How do you determine the expected RoR on a newsletter subscriber? How do you assess the impact of a prominent retweet to your bottom line? How do you nail down the contribution of a new logo to your profits?<\/p>\n

This conundrum is particularly relevant to those making a case for a specific budget or allocation to a marketing initiative. This data glut has created an impression among those not directly involved in marketing that everything can be boiled down to decimal points.\u00a0But what about all of the peripheral marketing and branding activities taking place that\u00a0push your audience to convert? How does one explain that to the powers that be?<\/p>\n

1. Whenever possible, give the people what they want — namely, hard numbers that take into consideration short and long term impact.\u00a0There are those who have come up with creative ways to make such determinations. Data segmentation, in particular, can help you do things like measure cost per lead\u00a0relative to customer lifetime value by channel. It’s not possible to do this for every aspect of your strategy, but delivering where it is can help your credibility.<\/p>\n

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