Measuring Marketing ROI

Measuring Marketing ROIYou work day and night to get more people to call your business. In order to maximize the number of calls and the number of conversions, you need to know which of your marketing channels are bringing in the most traffic so that you can focus your efforts accordingly. But how can you determine which marketing channels are driving the calls you receive?

ROI Measurement Tips

Here are some tips to help you measure marketing ROI effectively.

Make use of call tracking.

With call tracking software, you can assign different phone number to each of your marketing channels. Calls made to these phone numbers can be routed to the appropriate departments based on the nature of the marketing material. However, because the phone numbers are unique, you can track the calls generated by each source, allowing you to measure the effectiveness of different marketing channels.

Survey consumers.

Perhaps a less advanced method of measuring marketing ROI related to consumer phone calls is to simply ask consumers directly. You can do this by instructing your staff to ask consumers how they heard about your business before hanging up, or you can send electronic surveys to consumers who call in. Although less resource intensive, neither of these methods will provide you with the same level of accuracy as call tracking software.

Pay attention to trends.

Another way to track the source of calls to your company involves paying attention to trends. Did you notice a jump in phone calls after you launched a certain marketing campaign? Did those calls lead to sales? The answers to these questions can help you to measure the ROI generated by each of the channels you manage.

Outsource ROI measurement.

Perhaps the easiest way to measure the ROI associated with different marketing efforts is to outsource call management and tracking to a third party organization like MAP Communications. MAP Communications has software that allows you to track and organize all phone calls easily.

Maximizing ROI

Now that you know how to measure ROI, how do you use the information you gain? To maximize your ROI:

  • Focus more effort on successful channels. – If you find that one of your channels or campaigns is particularly successful, consider investing more money into that campaign or channel.
  • Make changes to unsuccessful channels. – If you find that one of your channels or campaigns is less successful than others, decrease some of your spending on that channel or campaign temporarily while you look for ways to improve the ROI. Once you see an improvement in ROI, you can increase spending again.
  • Seek direct feedback from consumers. – If you know that a certain channel is particularly successful but you aren’t sure why, ask consumers who have used that channel to provide insight as to why they did or did not convert. Use this insight to improve the channel in the future.

For more information about managing phone calls or measuring ROI, please contact us about our live answering services.

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