By unlocking ROI, your business can spend more time creating relevant content for your customers, doubling down on what works, and by knowing your numbers (costs and profits) one can efficiently allocate budgets and start creating assets that your customers love. When doing this, I recommend to keep track of your costs with a Excel spreadsheet so we can understand where all your costs are going, and where the money comes from, that can be gathered from your customer relationship management system, Google Analytics, etc. It can even unlock budgets for your Social Media Pages, such as in Twitter, LinkedIn, or Facebook, spending on social ads, sponsored content, or investing in likes, tweets, and followers. The time of tracking all of your spending is at its peak so we can further understand your business, as well as how to manage your budgets.
Inbound Marketing is one of the most important channels of them all for your business. It is the closest to you when reaching out to your customers or new prospects. By measuring ROI from your inbound marketing channel, one can determine the Return on Investment ratio and decide between being more aggressive or more conservative. My advice is to know your costs, your profit, and how many customers were affected by your content. Have they downloaded the most recent e-book? Have they seen the latest blog on your site? Have they purchased the newest product/service you sell? Comparing metrics such as the cost of an e-book or a blog, the time spent in collecting data from emails, the design of a landing page, and segmenting your data to understand how much you earn from each is really important for unlocking budgets from your investment. Why? Because we want to put our money where it grows the most, and I am not saying to put you eggs in just one basket, but to diversify your spending and have a greater percentage where it has the greatest return.
Unlocking ROI budgets has a tremendous advantage for your business goals, A/b and multi-testing will give you a great advantage to understand what works and what doesn’t work, and have a “cushion” to set back what didn’t work. Marketing is experimenting, and experimenting is knowing and doing. To create the most out of your inbound marketing, I recommend optimizing SEO landing and informative pages, email marketing, spend more on relevant content, and tune-up your site for different personas.