How to Measure the ROI of Your Digital Marketing Campaigns
Most businesses struggle to establish digital marketing activities lead to actual growth and increased revenue.
According to Hubspot’s State of Inbound 2018 report, which is based on feedback from thousands of marketers around the world, 'proving the ROI of our marketing activities' remains one of the key issues faced by marketers, with even more established teams having trouble directly linking the true benefit of their work.
Are you having trouble measuring the ROI of your digital activities? If so, then this post is for you - here's a listing of tried and true ways to more accurately measure the performance of your online campaign efforts.
1. Use tracking URLs for all your digital campaigns
In order to ensure you have a clear understanding of your campaign performance, you need to start using tracking URLs for all your digital marketing campaigns.
Tracking parameters can be added to any URL used for digital marketing campaigns - for example, if you run a Facebook campaign and you send traffic to a specific landing page, instead of using the plain landing page URL, you can ad tracking parameters to this URL which can then passed on to your tracking system, such as a CRM. These metrics will be submitted to your system every time someone clicks on your link.
The most widely used URL tracking system is UTM (Urchin Tracking Module) which includes five variants of URL parameters used by marketers to track the success of online marketing campaigns across traffic sources and publishing media.
The five UTM tracking parameter variants are:
UTM Campaign Source (example: Facebook, Google, LinkedIn, Newsletter…)
UTM Campaign Source Campaign Medium (example: cpc, banner, email…)
UTM Campaign Source Campaign Name: (example: roduct, promo code, or slogan (e.g. spring_sale) )
UTM Campaign Source Campaign Term: (Identify the paid keywords)
UTM Campaign Source Campaign Content: (Use to differentiate ads)
Google has developed a very easy to use tool to add those tracking parameters to your campaign URL.
Example of a plain URL:
Example of URL with tracking parameters: https://www.example.com/?utm_source=facebook&utm_medium=cpc&utm_campaign=FB%20June%20