Do you know the ROI on your marketing? What you should be doing.
Over the last few years more hype has been given to social media marketing than any other forms of marketing. The question always remains the same, what is the ROI on any type of marketing you do? For many entrepreneurs this is the one question they do not know the answer to. Even though they should!
Looking back over the last 5 years of the internet, technology and marketing we always think about the things that get the must buzz and the things that have the most proven track records. So going back and looking from 2010 till today, we discover that even though many things have changed, just as many have stayed the same. The question you should be asking yourself, is how aware are you of what is really working and what isn’t.
There are two elements of marketing that in 2010, and today for that matter, have a higher ROI than any other form of marketing. It also happens to be the two things that most entrepreneurs and business owners tend to ignore, one because doing it right is complicated and if done wrong can be the worst ROI. The other because it requires a lot of patience and is not easy to get started the right way. The two kings of ROI are….. (Drumroll)……. PPC and Email Marketing. That’s right, it’s not networking, the phone book (printed or online versions), not video marketing, not social media marketing it’s the good old email and paid advertisement.
It may seem hard to believe, but what you have to keep in mind are the two factors that are measured, time and money that you put into the marketing. So just because a medium doesn’t charge you, does not mean it free in any sense, it takes up something far more valuable and that is your time! Out of the two, email marketing has a higher return than PPC does, but it is also the element that can take the longest to build. That is if you want to build your list correctly with opt-in people that genuinely want to hear from you. Keep in mind that a list that is built the right way, can be worth its weight in gold. So when you are preparing your marketing strategy and getting ready to ramp up your marketing, the two things that should be on the top of your list are the ones that also have the highest returns. Do your own measurement, track your time, your money and see what is really bringing in the business. You might be surprised at just how high a return or response you are getting from things you thought where not producing.