Monitor your ROI, cost per lead / cost per sale using marketing automation.
Why do more until you know the true cost of what you’ve already done? Identifying the impact of your industrial marketing will help ensure you are using platforms that effectively promote your business. One of the biggest mistakes businesses make is not tracking the Return on Investment (ROI) of their marketing efforts.
Today’s marketing automation technology makes tracking easier than ever. Here are a few examples you may have not thought or known about.
An old “trick” updated – advancements have made call tracking extremely affordable, beyond the old methods. With call tracking, a specific or dynamic number is assigned to individual marketing initiatives, including your website, print ads, direct mail, radio and television campaigns. Calls can be traced back to their origin, allowing you to see which methods are driving results and which are not. You can also track caller locations, time of day and length of calls.
You would be surprised, but there are still many that do not track their email marketing efforts. When tracked, it’s not uncommon that the information gathered is often misunderstood or not acted upon. In other words, you get what you get and you get more if you do more. Tracking your email marketing efforts will provide you with accurate, measurable insight into your subscribers’ activity.
The latest and greatest software allows you to identify who opened your message, who clicked a link, which links produced the greatest click-throughs, as well as who forwarded your message or shared it on a social site and more.
Marketing automation software such as Act-On, HubSpot, Marketo and Eloqua have made it easier than ever to monitor marketing ROI by gathering and sharing more data than ever. These programs serve as the link between marketing and sales teams, automatically arming sales teams with as much data as possible before a lead or prospect is ever contacted.
Once you have a sound tracking system in place, it’s crucial to analyze the results, modify efforts as needed and repeat. Stop investing time and money into futile industrial marketing efforts, raise your overall payoff and generate more results and profit for your business.