To the small business, expenditures of any size are often scrutinized closely. In areas such as marketing, taking the effort to determine your marketing ROI gives you a much clearer picture of your promotion efforts and allows you to decide which actions should be cut or kept.
In a recent report by Bazaarvoice and the CMO Club regarding ROI from social marketing activities, of the companies that encouraged customers to rate and review their products, 59% said those ratings and reviews gave them the best return for their efforts. Following ratings and reviews, a number of them also saw significant ROI from other social media efforts such as company sponsored user communities (56%), company blogs (48%), Facebook (45%), participation in industry blogs and forums (41%), Twitter (31%), then finally LinkedIn (28%).
Know which marketing actions give you your best results. Analyze your website and social media stats to see where your page visits and ultimately your conversions come from. Need help in understanding your web stats? Call me. I can help.
