Do you know exactly how much return on your investment (ROI) you are getting from your marketing spend? If not, then how do you know what you are paying for is working?
Tracking your marketing dollars is the only way to know exactly what marketing efforts you are implementing are working and bringing revenue back to your business. We have compiled a few tips on how to effectively track your marketing spend below:
Use Call Tracking Numbers (CTN)
Call Tracking Numbers are phone numbers that you can list on your marketing campaigns. Whether it is a paid ad, direct mail, email marketing, or an organic marketing campaign, call tracking numbers can help you know where your leads are coming from. For example: if you are running an ad online that takes your lead to a landing page when they click on it, that landing page should have a call tracking number that they can call. CTNs are different than your actual business phone number but will allow your prospect to call from one phone number while your real phone rings. There are many call tracking number services available (and rather cheap, too) that have multiple capabilities like call recording, SMS, and voicemail.
Use a Customer Relationship Management (CRM) System
Customer Relationship Management Systems are a great tool for any business. Not only will CRMs allow you to track your marketing dollars, but they can provide businesses with a substantial number of other tools and methods to help your business grow. Many CRMs allow you to “tag” the contacts that are entered into the system. One way to ensure your marketing dollars are being tracked properly is to “tag” each contact with a unique campaign tag that shows where they came from. For example: if a lead comes from a Google ad you are running, when they submit their information or call from the landing page, be sure their contact is tagged as “Google ad” or something to distinguish which campaign that lead came from. Just like call tracking numbers, there are many CRMs that are available for every kind of business. There are simple systems like HubSpot and more robust systems like Keap and Salesforce.
Use Analytics Platforms
There is no doubt that using something like Google Analytics will provide insight into your marketing strategies that are currently being utilized. Numerous analytics dashboards will allow you to see how many website visitors and form submissions you have received in any given time period, where your visitors are coming from (known as “referrals”), demographics of users, and engagement rates. Although there are many analytics platforms you can pay a subscription for, Google Analytics is completely free and will provide you with an abundance of information you need to know about your business’ website.
Are You Tracking Your $$$?
If you are not currently tracking where your revenue is coming from, whether it is from a paid campaign or organic (free), you are missing out on many marketing opportunities. The only way to know what dollars you spend on marketing to your prospects and ideal clients is to track how they wound up spending money at your business. If you need help with setting up a tracking system, schedule your introductory call online or call (713) 965-7370 to see how HTX Marketing Group can help you today!