Jan 30, 2017 by Edward L. Blach, DVM, MS, MBA
Connecting the dots from the results of your marketing to the money you spent for marketing is not always as simple as adding 2 + 2. There is an old adage in marketing which goes something like this: 'You only need half of your marketing budget, but you just never know which half'. In other words, it is difficult to create a exact cause and effect strategy to measure the impact of all of your marketing efforts. Ideally, you would be able to do so, but with marketing, it is not always true.
In developing your marketing programs, it is important to utilize those programs and tools that will allow you to measure the results of your marketing investments. Google ads have revolutioned marketing for this reason. First of all, ads can be targeted specfically to users of certain demographic, in specific locations, who have in their searches on Google identified themselves as someone who has interest or needs in a specific subject or area. This is known as a qualified lead, and in most cases will increase your likelihood of converting them into customers. Google ads can also track every user who clicks on your ad through the process to track those that end in a transaction. This allows you to calculate a return on your marketing investment, because you know how much you spent and how much in transactions you received for what you spent. Similar ads in a traditional magazine or on a billboard aren't always able to provide this direct feedback.
One way to provide feedback and trackability is to include in your call to action some type of code that provides added benefit to your customers. It will also tell you where that customer saw your ad. These are just a few examples of connecting the dots to determine the effectiveness of your marketing.
Though it is not possible with all forms of marketing, build into your marketing plans as many ways as possible to track the results of your marketing. It will help you learn what is effective, and it will make your return on investment much more attractive.