Get Clear About Your Return on Investment

return on investment

One of the most important aspects of everything you do when marketing is to know how it’s paying off. If you don’t know your return on investment (ROI), then you’re doing it wrong. There are so many tools that you can use to keep track of what you’’re doing and what the results are that there is no reason not to know your ROI.  There are only three factors you need to consider in order to calculate your return on investment (ROI):  the cost of the marketing effort, traffic brought due to the marketing effort, and the conversions made.  Knowing how those factors are related is the key to understanding your ROI.

How to Determine Your Return On Investment (ROI)

You can easily determine your ROI simply by checking what the value of your conversions is versus the value of the marketing effort. So, if you spent 1000 dollars sending traffic to a particular sales page, and made 2000 dollars, then your ROI is 100 percent. Now you can spend that 1000 dollars over again to make more money.

However, not all conversions are monetary. For example, sometimes a conversion will simply mean that someone signed up to your newsletter. In that case, you can compute the cost of acquiring the list member by dividing the cost by the number of sign-ups. This will be your cost for acquisition.

Later you can use that cost to determine your return on investment as the list converts those sign-ups to buying customers. For example, if it costs you 20 dollars to get each list member and you make an average of 50 dollars off each list member, then you know that it’’s worth the effort and cost to build your list members.

Most people at least have a good idea of their ROI, but the problem is that most people don’t keep track of any of this type of information. They are aware of the ROI but essentially don’t know what to do with that information to make it better.  Many just end up working in the dark trying to make plans to accomplish success without even understanding what actions you are doing to bring that success. Starting to keep track of your numbers is the first step in truly understanding the process and its implications.

To keep track of things, you can create a chart of all your expenditures and income so that you can figure your ROI. The most important numbers are what you spent versus what you made. Once you settle in on that, the other information will still be important, but these are the numbers that will essentially answer the question, “Did this work?””  Really pay attention to what your marketing efforts were in times of your highest and lowest revenue.  Look for patterns so that you can find a way to repeat the actions that led to your biggest success and not repeat the actions that caused you to lose money.  It’s a simple concept, but one that is often overlooked.

Defining what you will measure, implementing tools that can measure the progress, and then using the results to inform future actions will yield powerful results.  If you share those results with stakeholders and others who help you make decisions, you can start to build an informed team of people to help you make marketing decisions. You can even compare your results to industry averages to find out how well you’’re doing compared to others. Knowing your ROI is an essential first step in making informed marketing decisions.

Want to Strengthen Your Online Visibility? Start Here!

online visibilityMarketing locally is something that most online businesses should always do. Even if your audience is world-wide, you can make a big impact by taking advantage of improving your online visibility. Having a local presence will not only help those who are local to you find you easier, but it will also increase your expertise quotient. Here’s how to strengthen your local presence.

8 Simple Ways to Increase Your Online Visibility

SEO – Search Engine Optimization consists of a lot of different techniques to get more people to come to your website. The words on your page (keywords), as well as the words and links you earn off your page, are all important in helping to improve your online visibility.

Blogging – The more you can blog about your business on your website and off your website, the more likely you are to get local visitors. You just need to ensure that you use local keywords and a profile that mentions your location.

PPC – Use pay-per-click ads that mention location, or target people in your location using the demographic settings that most PPC platforms allow you to do. This is a great way to improve your online visibility. Facebook has an especially awesome targeting tool.

Social Media – Use social media to tell more people about your business, focusing on local people first, and then allowing it to expand out to other locations. Ensure that you mention your location on all social media sites.

Go Mobile – Have all your visitors sign up to receive text messages from you, then separate them into different locations where you can invite them to a special local-only sale. You’ll usually know who they are from their area code.

Claim Your Business – Google Business, Yahoo Small Business, Yelp and other local business directories all have listings. Your business might already be listed, so be sure to claim and verify your business listings.

Get Listed – Find local directories, including your local Chamber of Commerce directory, and ensure that your website is listed. You might have to pay for some of these, so choose wisely and pick the most frequented and professional websites for your money.

Fill Out All Profiles – This is a very important yet often overlooked step.  You need to fill out all of your profiles accurately and completely on every place that asks for a profile. Use your location to help you show up more in local searches for the best results.

Getting known locally is an important way to get more local visitors to your website, which will translate into more local business. Even if you want to do business internationally, there is nothing wrong with being known locally as well, as it can open a lot of doors for you in the areas of public speaking, coaching, and teaching – all areas that will add value to what you offer in addition to making more sales.

Click the link below to get more info on these and other steps you need to take to improve your online visibility.  This free checklist will ensure that you don’t miss any vital steps to help you get found locally!

Get the checklist here!

Top10 Search Engine Updates for September 2015

There’s always a lot of change happening when it comes to to search engine updates and the way they look at presenting their search results. Even though they are extremely difficult to keep up with, here are 10 that have happened recently that might benefit you or your business.

Search Engine Updates You Should Know About!

  1. Google has made it easy to file a complaint against marketers who are violating its guidelines. You can simply use this URL to file your complaint. You can navigate to Contact Us button (top right) > Email > Complaint about a Partner.seo-1
  2. Google has introduced a new local pack which displays only 3 results instead of 7 with minimal information, excluding the mandates like phone numbers or street addresses which were earlier visible in the 7 pack.
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  3. Google Maps changes its manual verification process for businesses. You will now no longer be able to call the Google Maps team and have them manually verify your business over the phone. You’ll be instead directed to the normal verification methods.
  4. A long tail search indicates that a customer is close to a point-of-purchase; hence it creates excellent opportunities for local businesses. Here is the complete study from BrightLocal.
  5. Now business listings will show verification check-marks in Google maps.
  6. Bing started showing reviews in its results exactly when Yahoo stopped it. Coincidence? Maybe!
  7. Google will not force a new user to make Google+ account to sign up for Google services. *Sigh. Here is the official statement from Bradley Horowitz – “We want to formally retire the notion that a Google+ membership is required for anything at Google… other than using Google+ itself.
  8. Google will take down unverified and inactive plus pages associated with business listings. So make sure to get your business pages verified and keep them active by sharing content regularly.
  9. Google has introduced a feature that will inform you about the peak time of the business so you can avoid the rush. But many have doubts about the usefulness of this update.
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  10. Updating a new address in Google Maps can be tricky especially while displaying driving directions. To understand why this happens and how to fix it, you can simply refer this guide.

There are plenty of search engine updates to keep up with here, but the key is to find the ones that impact your business and put a plan in place to adjust or capitalize on them. If yo uare not sure what to do next, feel free to Contact Us and we can help you put a plan in place!

Strengthen Your Local Marketing Presence

Local MarketingMarketing locally is something that most online businesses should do. Even if your audience is world-wide, you can make a big impact by taking advantage of strengthening your local marketing presence. Having a local presence will help those who are local to you find you easier, plus, it can help increase your expertise quotient.

How to Strengthen Your Local Marketing Presence

SEO – Search engine optimization consists of a lot of different techniques to get more people to come to your website. The words on your page (keywords), as well as the words and links you earn off your page, are all important.

Blogging – The more you can blog about your business on your website and off your website, the more likely you are to get local visitors. You just need to ensure that you use local keywords and a profile that mentions your location.

PPC – Use pay-per-click ads that mention location, or target people in your location using the demographic settings that most PPC platforms allow you to do. This is a great way to improve your local presence. Facebook has an especially awesome targeting tool.

Social Media – Use social media to tell more people about your business, focusing on local people first, and then allowing it to expand out to other locations. Ensure that you mention your location on all social media sites.

Go Mobile – Have all your visitors sign up to receive text messages from you, then separate them into different locations where you can invite them to a special local-only sale. You’ll usually know who they are from their area code.

Claim Your BusinessGoogle Business, Bing Places, Yahoo Small Business, Yelp and other local business directories all have listings. Your business might already be listed, so be sure to claim and verify your business listings. Moz Local is a great service to verify listing and create new listings as well.

Get Listed – Find local directories, including your local Chamber of Commerce directory, and ensure that your website is listed. You might have to pay for some of these, so choose wisely and pick the most frequented and professional websites to spend your money.

Fill Out All Profiles – This is very important; you need to fill out all your profile accurately and completely on every place that asks for a profile. Use your location to help you show up more in local searches for the best results.

Getting known locally is an important way to get more local visitors to your website, which will translate into more local business. Even if you want to do business internationally, there is nothing wrong with being known locally as it can open a lot of doors for you in terms of public speaking, coaching and teaching – in addition to making more sales. Hopefully one or more of these strategies will help you strengthen your local marketing presence.