Determining the ROI on your Marketing Automation campaign is a little tricky. Your marketing automation covers a lot ground because it kicks in as soon as a lead hits your marketing funnel and continues to work well beyond the point of a conversion or sale.
So tracking all that goes on during the buy cycle and determining the ROI can take a lot of time. Thankfully, you don’t have to track every little step along the way and crunch the numbers. Instead, it’s best to pre-determine which metrics you wish to measure to provide yourself with a concrete picture of how well your Marketing Automation is performing.
There are some metrics that every business owner will want to track. Those include leads generated, lead scoring, conversions and sales. These are strong indicators of whether or not your Marketing Automation campaign is paying off or not.
Another good strategy is took take a look at your numbers prior to investing time and money into a Marketing Automation campaign. Once your Marketing Automation campaign has had some time to work its magic (maybe a couple months) you can go back and look at the numbers again.
If you see a noticeable increase across the table, then you know your Marketing Automation campaign is up and running properly. If the numbers haven’t changed much, or even worse, experienced a decrease, then either you haven’t set up your Marketing Automation properly, or Marketing Automation isn’t the right fit for your business.
Again, it’s best to determine which metrics are most important to you. According to a recent survey, 77% of businesses admitted they turned to Marketing Automation for an increase in revenue. If this is you, then simply look at your revenue before and after you start using Marketing Automation.
Companies using Marketing Automation have experienced a 53% higher conversion rate. This gives you an idea of where to set your benchmark. If you’re not hitting those numbers, then you’re not receiving the best ROI possible.
If you’d like learn more on measuring the ROI of your Marketing Automation, take a quick look at the short video clip above.