Marketing Metrics and ROMI statements
Web analytics, social media, web 2.0, mobile technology and other digital channels have opened the data floodgates for marketing data. We help companies determine the Return on Marketing Investment (ROMI) of their marketing capital through thorough analysis of the various marketing channels utilized. For more information see Mx3 Metrics
Most marketing systems display raw data – what we call Measures. Measures are important but what is different about our system is that we add Financial measures related to the Investment in marketing and resulting Revenue. Then we can calculate various key Metrics such as ratios, percentages, and indexes. We also select specific Measures and Metrics to be Key Performance Indicators (KPIs).
This system gives a framework to set-up, monitor, measure and analyze the results of a digital media strategy or an integrated marketing campaign including digital and traditional marketing, from beginning to end.
Everyone wants more traffic to their website or their social media page. The logic is: more visitors equals more sales. In most situations, this is true. As a result, companies invest millions of dollars in various marketing and advertising campaigns to get more visitors to their online sites. And this is a good place to start because the opposite is definitely true, if you don’t have visitors, you won’t get any sales.
Marketing and advertising essentially increases the number of Impressions for a company’s brand and its products.
To increase the volume of visitors to your website and social media pages, we develop campaigns in the following channels:
- Organic Search using search engine optimization techniques
- Paid Search using pay-per-click technology
- Display and Remarketing ads using Google AdWords Display network
- Social Media Marketing on any of the many platforms
We can help you set up and manage all of these channels.
There is more to marketing than more website traffic. Often the key to increasing revenues is to increase the number of prospects and offers. As mentioned, getting more website visitors is just one tactic. Not every visitor buys something. We wish they did but they don’t. Some come to browse. Some come to learn. Some come to compare. Some just come because you are there.
What most companies want is for visitors to request and buy the products and services that they offer. Consequently, converting visitors into prospects or sales leads is critical to sustainability and growth. With our clients we use sophisticated lead nurturing technology to manage the whole process of converting your target Audience into Searchers, Followers and Buyers. This process is part content and part technology; part art and part science; part hands on and part automation.
We can help you change and improve your lead generating process.
In the past, a typical sales process was Qualify, Pitch and Close or some version of that. This approach is not working for many of our customers. The reason is simple; because of technology like websites, social media, search engines, and mobile phones, people buy differently than in the past. Now buyers can research a product, check a competitor and ask for a recommendation from a friend - all in the time it takes to sneeze.
Getting lots of traffic to your website is great. Converting some of those visitors into prospects is fantastic. What most companies want is to turn visitors and leads into customers - people who are willing to pay you for what you are offering. Marketing and Sales has changed in the last 10 years.
We can help you change and improve your selling process.