More and more marketers’ jobs and budgets depend on their ability to calculate and communicate their return on investment. Still, determining ROI can be a challenge.
To help you out, this week’s news roundup brings you five articles that examine the difficulties involved with calculating and communicating marketing ROI — and give tips on how to overcome them in your organization.
- Improve Your Marketing ROI Predictions With These 3 Considerations. Marketing Land: “Short-term revenue is dead! One should consider lifetime revenue instead — that is, the longer effects involved across channels and devices — and anticipate those. Average ROAS and CPA are dead! One should look into marginal ROAS and CPA instead. Also, bonus point for whoever can use more advanced indicators such as the cost of goods, and more generally any metrics closer to the true business value, which once again brings up the importance of sophisticated tracking.”
- Patrick Tripp of Adobe: Email Leads in ROI in the New Marketing Frontier. Small Business Trends: “Email ROI (return on investment) is up around $39.40 per email, for business email specifically, according to a study done by the Direct Marketing Association. The second ranking channel there is Internet display, then search, then direct mail, and it’s quite a bit lower ROI on some of those channels. So really, it’s tried and true, and it’s been around for a while, but it’s still the most effective channel.”
- 3 Ways to Justify Your Event Spending. Business 2 Community: “Marketing was once widely seen as a cost center, but marketers have begun to increasingly use metrics to build credibility. Events, so often dismissed as a waste of budget, are no exception. By combining real-time event data, basic metrics, and revenue attribution, marketers can now start proving and fine-tuning their investment in events.”
- Finding ROI in B2B Marketing Can Feel Like Pushing Water Uphill. ClickZ: “In the evolving B2B marketing automation sector, vendors have transitioned from campaign management focus to lead management focus. The driving force behind this has been the realization that people research, evaluate, and buy online, oftentimes with little or no interaction with sales personnel until the latter part of the sales cycle.”
- Canadians Emerging as Cause Marketing Leaders. Forbes: “Like their counterparts around the world, Canadian corporate citizenship leaders continue to work hard to migrate their work to the core of their companies’ consciousness. A recent survey we conducted of Canadian citizenship executives in industries from mining to retail revealed that nearly 7 out of 10 ranked “Determining Business ROI” as an essential topic to explore. Half also gave top priority to Measuring Social Impact.’”
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