Digital marketing is a huge investment. No matter how you cut it, time, effort and money are put into creating and managing a digital marketing strategy. But what’s the payoff? What impact does your digital marketing have on your business performance? To answer these questions, you need to calculate your return on investment (ROI). In this blog post, we will share key statistics that you should know about ROI in digital marketing. Armed with this information, you can make more informed decisions about where to focus your efforts and maximize results.
#1 Email Marketing: For every $ spent on email marketing, the average return is $38
Email marketing is one of the most efficient and effective ways to reach your customers. It’s also one of the easiest to track in terms of ROI. For every dollar you spend on email marketing, you can expect an average return of $38. That’s a pretty impressive ROI, especially when compared to other marketing channels.
So, if you’re not already using email marketing as part of your digital marketing strategy, now is the time to start. Not only is it an effective way to reach your target audience, but it’s also relatively inexpensive and easy to track results. The key to effective email marketing is to segment your subscriber list and personalize your email content wherever possible. Shotgunning the same message to all of your subscribers is a sure way to turn people off and have them unsubscribe. They signed up for your email list because they are interested in what you have to share – so make sure your email content is worth their time.
#2 Google Ads: The average return for every $1 spent on Google Ads is $2. So while it’s not as high performing as email marketing – you have to drive people to your site to get them to JOIN your email list, right?
Google Ads is an effective way to reach your target audience and reach people who are actively searching for what you have to offer. . And, like email marketing, it’s also relatively easy to track ROI. Of course, your actual results will vary depending on a number of factors, including your industry, target audience and the keywords you are bidding on. However, if you are smart about your keyword selection and use negative keywords to weed out unqualified leads, you can expect a healthy return from your Google Ads campaigns.
If you want to maximize your Google Ads ROI, make sure you are constantly monitoring your campaigns and making adjustments as needed. Also, take advantage of Google’s new Performance Max feature to get the most bang for your buck.
#3 Content Marketing: The average return for every $ spent on content marketing is $13
Content marketing is a long-term strategy, but it’s one that can pay off big time if you do it right. The key to effective content marketing is to create quality, evergreen content that will continue to drive traffic and leads long after it’s been published. That might sound like a tall order, but it’s not impossible. With a little planning and effort, you can create content that will serve your business well for years to come.
One of the best things about content marketing is that it’s relatively inexpensive compared to other marketing channels. And, as with email marketing and Google Ads, its ROI is easy to track. For every dollar you spend on content marketing, you can expect an average return of $13. Not too shabby, right?
If you want to make the most of your content marketing efforts, focus on creating quality over quantity. It’s better to have a small number of well-written, informative articles and well produced videos than a ton of poorly written fluff pieces and poorly created videos. Be sure to promote your content across all channels – social media, email, and beyond – to get the most eyes on it as possible.
These are just a few examples of how different digital marketing channels can impact your business ROI. As you can see, some channels perform better than others in terms of ROI
#4 Video Marketing: We touched on video marketing above, however it is deserving of it’s own call out. The average return for every $ spent on video marketing is $22.
Video marketing is one of the most effective – and most expensive – digital marketing channels.
Again, your results will vary depending on a number of factors, including your industry, target audience and the quality of your videos. However, if you produce high-quality videos that are relevant to your target audience, you can expect a healthy return from your video marketing campaigns.
Also take advantage of dynamic video content, which allows you to personalize your videos for each viewer. This ensures that your videos are relevant to each individual, which can help increase ROI.
These are just a few examples of how different digital marketing channels can impact your business ROI. As you can see, some channels perform better than others in terms of ROI. But no matter which channel you focus on, if you don’t have a solid plan in place, you likely won’t see the results you want. So before you start investing time and money into any digital marketing efforts, contact us so we can help you determine the best marketing channels for your brand, your budget and your goals.