There was a time when measuring inbound marketing results was essentially about tracking website visits, web page hits, unique visitors, and maybe a nice Google Analytics pie chart highlighting where folks were coming from (and really, who doesn’t love a good Google Analytics pie chart every now and then?).
However these days – and thankfully -- ROI reporting is far more sophisticated, and there’s MUCH more data out there to capture, analyze and turn into actionable intelligence. That’s the good news.
The not-so-good-news, is that while tools like Google Analytics are still part of the ROI report puzzle, they’re not even close to revealing the full, accurate picture of today’s inbound marketing landscape. To make that happen, businesses need to implement the following 6 steps:
ROI Reporting Step 1: Establish Definitions
All businesses want to achieve ROI, but they certainly all won’t take the exact same routes to get there. That’s why the first step doesn’t actually have anything to do (yet) with reporting ROI. Rather, it’s about establishing definitions, and identifying the specific metrics and KPIs that need to be measured.
ROI Reporting Step 2: Set Goals
Next up is goal setting, which is not just a motivational exercise: it’s about setting aggressive and ambitious, but nevertheless realistic expectations – both in terms of numbers (e.g. traffic, leads, conversions, etc.) across various buyer personas, and in terms of overall timelines (e.g. 6 months, 1 year, 2 years, etc.). Remember that while there are some very impressive quick wins that come with inbound marketing, it’s fundamentally a long-term strategy.
ROI Reporting Step 3: Capture Data
We cannot stress this enough: all inbound marketing data is not created equal! While almost all of it is useful, some is more valuable and actionable than others. As such, businesses need to put systems and business rules in place that capture the right data at the right time, and organize it in the right way. Good data hygiene is the lifeblood of a reliable ROI report!
ROI Reporting Step 4: Monitor, Monitor & Monitor
Monitoring should start from day one, and continue regularly throughout to ensure that tactics are aligned with objectives, and that campaigns are mapped to overall organizational strategy. For example, 6 months after launching an inbound marketing campaign, a business may decide that it wants to shift towards a different buyer persona (by the way, this is not uncommon nor is it a red flag – often it is through campaigns that businesses will identify profitable new target audiences and will naturally want to engage them). Continuous monitoring enables this kind of shift and calibrates the overall effort so that it’s efficient and focused.
ROI Reporting Step 5: Make Data-Driven Decisions
Obviously, the goal of collecting high quality data isn’t for its own sake: it’s to make smarter and faster data-driven decisions. This includes everything from what kinds of content to create, the best channels/platforms to distribute content, what messages to choose to generate the most traction, and so on.
ROI Reporting Step 6: Partner with Leap Clixx!
Last but certainly not least: partner with Leap Clixx! We’ll work with you to put the system and technology in place to generate ongoing ROI reports – which we’ll provide to you on a scheduled basis (e.g. weekly, monthly, quarterly, bi-annually and annually). You’ll be able to focus on leading your business, while we empower you with the ROI reporting you need and demand. Contact us today to schedule your free, no obligation consultation.
Not liking your ROI? Check out some inbound marketing best practices, that can help increase your ROI, with our FREE downloadable:
Topics: Inbound Marketing
