To effectively have an advertising campaign you have to have the means of tracking your return on investment. In other words, do you know what is it costing you to advertise / market your product compared to how much you are bringing in?
Each new customer has an acquisition cost. But this isn’t the only number to look at and often not the most important.
By having the correct type of tracking you can have a better idea of these costs. There are several methods that can track the visitors to your website, the number of phone calls a particular campaign is getting you and the responses to a specific coupon.
Some of these tracking abilities will cost you money, others are free of monetary fee’s but require you share your data instead. If you are only tracking your website activity you are missing out on so much more data that is available to you to optimize your product, campaign, or means of marketing.
For example there is this one company who thought their marketing campaign was a complete bust and a waste of money. But because they had implemented tracking on all available networks they found the issue was actually the person answering the phone at their office.
Keep a close eye on the folks answering the phone. You paid a lot of money to get that call, make sure it is dealt with profitably.
It may seem a little daunting at first to review all the numbers provided with tracking analytics and varied sources. Once you get the swing of it though, the information you get is incredible. You’ll wonder how you survived before.
