Measuring Your Marketing All the Way Through to Revenue
Can you visualize the return on investment of your digital marketing efforts in one view? Read on to see how we do it.
Category: Digital Marketing | Tags: avalanche email, Digital Marketing, strategy
Can you visualize your marketing returns in one view?
If not, and you’d like to learn how, read on…
The screenshot above is broken down into three sections:
- Input (investment of time and money)
- Throughput (your marketing and sales activity)
- Output (your returns in $$$)
Let me break down what you’re looking at…
- This breaks down your website by landing pages (any URL on your website).
- We’ve added a column to control what the total investment into each landing page has been (SEO, content, development, copy, images, whatever it takes to create a great page).
- Organic entrances tells us how many people landed on that page over a given period of time via a search engine (this could be set to all visitors or other channels like email, social, etc.)
- Goal completions then tell us how many people entered that landing page (organically) and eventually (whether on that page or not) took a desired action (filled out a form, clicked to call, etc.)
- Deal value then tells us how much a closed deal or sale is worth for the given product/service that page is about.
- Revenue is determined by multiplying the total goal completions by the deal value, then multiplied by the close rate.
- Finally, you can calculate ROI with these numbers.
This is my favorite chart.
But, this doesn’t tell the whole story of your marketing efforts.
I’m a big believer that data/analytics can never tell the whole story because behind every number is a human and humans are unique and unpredictable.
Humans don’t follow the funnels and paths we want them to take.
But, this chart does tell a good story and gives us room to make incredible improvements. With a chart like this, you can:
- hold your marketing and sales teams more accountable to desired outcomes (not tasks) that lead to revenue.
- determine what the most valuable pages of your website are and send more traffic to them.
- analyze goal conversion rates at a landing page level to seek improvement for conversions.
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