5 Ways to Boost Your ROI
Entrepreneurs are known for accomplishing great things with limited resources. If you want to do the same thing, here are five easy tips you can implement right now to maximize and measure every dollar of your marketing budget.
1. Visualize and plan
Poor planning can skyrocket your campaign expenses and slash your return on investment (ROI). Visualize what you want to accomplish and identify your budget and timeline. Careful planning will produce better results and reduce unnecessary expenses from rush printing and shipping charges.
2. Clean up and measure your email list
The average bounce rate from an email campaign is 5-20%, depending on the industry you target. An old list can be as troublesome as an illegally purchased list of contacts. Contacts may lose interest, forget they opted-in, lose touch with the industry, or can't handle the e-mail volume you're sending. To ensure optimum deliverability, take time to re-opt-in your contacts every six months to one year. Creating a 'Re-opt-in' campaign for your existing contacts will increase deliverability, value and retention of your customers and prospects.
Integrate web analytics into all links within the email to accurately measure click-through rates and all actions taken as a result of the email to understand ROI.
3. Transform your website into a sales person
A critical but often overlooked component of every marketing campaign is a call-to-action. Transform your website into a sales person by asking prospects to take an action! While the call-to-action should not be drastic (like proposing on a first date) it should advance the buying cycle. The Web has become the most prominent call-to-action as prospects can do it on their own time, you can let technology do the work, and most importantly you can measure your effectiveness with web analytics!
4. Follow up with prospects
Have a follow-up plan in place for when a prospect responds. It is vital to act quickly while the interaction is still fresh in the prospect’s mind. Tools can help in the follow-up process, such as sales force automation programs. Sales Force Automation (SFA) is basically used to systematically monitor, track, and report on the progress of a prospect when human interaction is required.
5. Leverage Web Analytics to measure all marketing results
Web analytics allows you to get beyond open rates and response rates to real ROI based on an action for all different types of media. While the industry standard ranges from 1-3%, response rate alone does not tell you whether your campaign succeeded or not. Use ROI as your measuring stick with web analytics and Infusionsoft as the tools to get you there.
