B2B marketing services prioritise these factors when helping companies to boost their ROI

If you’ve applied the “press send and wish for the best” approach to marketing, you’re missing out on some key opportunities to track whether your marketing efforts are helping you to reach the goals you’ve set for your business. Staying on top of your ROI will help you ensure that your marketing budget is being optimised and that the marketing mix you choose to use is reaching the right people via the most effective channels. Tracking return-on-investment (ROI) is an important part of the mandate of a managed marketing services company in Perth.

These are some of the steps you can take to improve your marketing ROI.

Identify and track a few core metrics

Arguably, there are over 70 different metrics you can use to determine ROI, some of which include cost per lead, engagement rate, cost per acquisition, click-through rate and funnel conversion rate. If these terms sound foreign to you, it’s because they are part of an entirely new marketing language that has been developing and evolving since the advertising boom of the 1950s.

With the help of an outsourced marketing company in Perth, you can choose the metrics that are most meaningful to you as a business. A common mistake that business owners make is to try and track all possible metrics, when only a select few are real indicators of whether you are achieving your desired return-on-investment. It’s far better to track a handful of metrics that are directly related to sales and your bottom-line than to track metrics that do not make a tangible difference in terms of your profitability.

A/B testing

A/B testing is one of the most powerful tools in the arsenal of seasoned managed marketing services companies. It involves modifying one element of a campaign and comparing how it performs against another element of the same campaign or the same element in a previous campaign.

For example, if you want to perform an A/B test on a newsletter, you may decide to test two different subject lines by using the system to send both versions of your subject line to a portion of your audience and measuring which one gets the highest click-through rate. Once you have this valuable data, you can send your newsletter out with the winning subject line and in doing so, maximise the efficacy of your campaign.

Embrace trial-and-error

A big part of finding the right marketing mix will involve simple trial and error. In the beginning stages of formulating your marketing strategy, you could propose using social media, direct mail, print media and content marketing. Over time, as you track the success rates of these mediums, you’ll find what works for your business.

Much of your success will be determined by where your target audience is geographically and online – don’t be afraid to experiment with different mediums and use analytics to inform your decisions. Data is a powerful enabler, but sometimes you may be surprised at which mediums have just the right appeal to get your target audience talking and engaging with your brand.

If you’re unsure as to whether your marketing efforts are being optimised to increase your return-on-investment, a B2B marketing services company based in Perth may provide the assistance you need to crunch the numbers.

Contact us today and we’ll help you ensure that you’re making the most of your marketing budget.