Last week, we shared why you should care about ROI when it comes to certain aspects of your online marketing campaign.
Of course, it makes sense to track your investment in your marketing so you can see how you should adjust budgets moving forward. But at the same time, if you grow too reliant on ROI, you may find that you don’t take enough risks or leave room for growth in your online marketing — and when the internet is constantly evolving, you can’t afford to stay stagnant!
So, when should you ignore ROI in evaluating the effectiveness of your online marketing efforts? Here’s our advice.
When To Ignore ROI
When it comes to social media, constantly checking your ROI will exhaust and frustrate you. While social media marketing is an essential branch of any franchise’s online presence, many social media users aren’t on social media to purchase right away — unlike someone who has filled out a contact form on your website, for example. Social media marketing is more about fostering a relationship with prospective customers so that they think of your franchise when they are ready to make purchasing decisions.
We don’t advocate posting blindly, though. Even if ROI isn’t your best indicator of social media success, you can still use other benchmarks to monitor your progress. Rates of engagement, referral traffic from your social media platforms, and overall audience reach can reveal what posts are most successful and what strategies need adjusting.
IGNORE: Customer Experience & Reputation Management
It’s almost impossible to measure the value of the customer experience, as there often isn’t hard data about how customer service affects conversions. There’s not really a direct way to measure the value of preventing bad online reviews from being written or working to capture and place testimonials on your franchise website — partially because you can’t know how many negative reviews or social media rants you prevent by focusing on the customer experience in your online marketing.
IGNORE: Newly-Launched Campaigns
There’s also a when to consider as you decide how highly to prioritize ROI. You want your campaigns to find their footing before you decide whether they’re working. Although you might wish online marketing could provide instant gratification, it can take months for aspects of online marketing to really take effect and make an impact on your bottom line.
We Value Results, then ROI
When you work with Franchise Marketing Group for your online marketing, you’ll see that we know how to use ROI correctly — as one benchmark, not as the final say in how effectively campaigns are running. We love analyzing data because it helps dictate strategy, which in turn positively impacts results. At the same time, we also know the value of other information, ranging from engagement to referrals to customer testimonials, and we take these elements into consideration as we evaluate how your online marketing is going, too.
If you’d like to learn more about our online marketing services and how we incorporate ROI in our strategy, contact Franchise Marketing Group online or by phone at (971) 212-4026. You can also feel free to visit our office in Kansas City.