All of us are spending a lot on marketing. Right? But what actually are you doing to track ROI?

Question

Jonathan Taylor · Accepted Answer

I love this question. Marketing and Sales are different sides of the revenue coin. However, neither should focus exclusively on chasing revenue. Sales builds value with prospects, and sometimes that takes time. Measuring the effectiveness of a single call may mislead you to track the wrong efforts.

Same goes for marketing. Top of funnel SEO work may not result in direct conversion, but contributes to positive brand growth which in turn drives revenue.

In my experience, each team needs to come up with their own "value model" to determine the expected and realized value from a specific channel. This may mean weighting conversion events on Google Analytics, or implementing a strict first-and-last touch attribution model (or if you've got the resources, implementing a 3rd party attribution model).

Obviously, you want to put a dollar figure to your efforts, but the big picture is, well, bigger than just a single figure.

Mr Ethar Alali · Answer

At the end of the day, marketing is part of your business and MUST cause an uptick in your sales to return anything. Even brand is ultimately about increasing your value. What you then get is a TOTAL investment return (operations and marketing) and if you've run the marketing yourself, you then have a control, from which you can then judge any future marketing spend. Simply A/B-test your own performance and spend against your marketing team's cost performance, noting the effect on your bottom line.  If they outperform you, keep it. If not, ditch it.

Ensure you only make decisions when you have around 1,000 samples. No more (that's just waste), no less (as you're less likely to get credible results).

Jasper Ruijs · Answer

Hey Maghna, growth hacker here.

Facebook has an excellent engine to create an overview of the funnels.
The same can be said with Google Analytics.

You only need to expand the tags and pixels, and everything can be tracked.

But for the overview of different marketing channels and their ROI, I would use Google Spreadsheet.

I can speak for the growth hacker community, but I would love to have a framework to manage ads across multiple platforms if I were a product marketing manager.

In my opinion, Google, Facebook, or Twitter would never open their marketing platforms for third parties.  But maybe you can combine their APIs.

Suppose you want to do a better job of ROI. You need to identify every customer across multiple platforms. Because some people only buy after seeing multiple add at cross platforms. The problem is that most data companies try to avoid giving acces to this customer identification because they fear regulations.

Ruslan Rayanov · Answer

We are the developers of the platform and decided to reject the invited specialists, because we know our product better than they do. But for our customers who have ordered trading platforms from us, we have developed a series of articles about the promotion of platforms and marketplaces. https://falconspace.site/blog/kak-prodvigat-marketpleys--pervye-shagi-po-raskrutke-ploshchadki

Meghna Bagri · Answer

@ethar_alali Thanks for the insights.
 Agree that one should have a good data sample before making any changes in their strategy.

Meghna Bagri · Answer

@jonathan_taylor3 Totally agree with you. 
Nowadays measuring digital attribution is the top most challenge faced by marketers, that's why we have an inbuilt DMP in our product ADOHM. This helps us and our clients in measuring digital attribution.

Meghna Bagri · Answer

@jas801 
Hey Jasper!

For tracking the traffic from different channels, our system, ADOHM generates this small 2 line code that need to be placed in the website and it tracks down all the data. Also we have a dashboard that gives you the detailed report of all your sales and marketing activities.

Agree with you that people only buy after seeing multiple ads across platforms, and this is challenging for marketers like us to identify whom to give credits. Our product ADOHM helps in measuring that through our inbuilt DMP.

Meghna Bagri · Answer

@jas801 You were saying about managing ads across multiple platforms, I missed one point here, we have done that already. Why don't you just check ADOHM. Thanks,

All of us are spending a lot on marketing. Right? But what actually are you doing to track ROI?

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