Clear and detailed return on investment. The holy grail for any marketer. The true measurement of the efficacy of marketing activity and its contribution to the business’ bottom line.
In the past, measuring marketing ROI, even on a relatively limited scale, was immensely difficult due to the lack of sophisticated analytics and measurement tools. Businesses would find themselves unable to validate their expenditure on marketing, as they were completely unsure as to how, or what marketing activity contributed to the business’ bottom line success or lack of it!
Fortunately, with the ascent of marketing automation platforms, tracking software and website analytics tools, reporting with forensic accuracy on every element of your marketing campaign is now relatively straightforward.
As a result, more and more marketing departments are being pushed by their board or CEO, who regularly asking them:
“What is the return on investment for our digital marketing activity?”
And, for some of these departments, the answer might still be:
“We don’t really know for sure.”
For marketing departments today, the importance of being able to readily provide marketing’s performance metrics, the conversion ratios, customer attribution paths and overall marketing ROI, is absolutely essential – and completely possible.
Accurately measuring marketing ROI will help you to understand the effectiveness of a particular campaign, as well as validate your expenditure on certain marketing activities.
With a clear and detailed return on investment report, you will have access to information which allows you to make more data-driven decisions and, with granularity, predict the business’ future sales lead generation activity.
For large, multi-national corporations (MNCs), this problem may be more apparent. As a large, international organization, it is highly likely that there will be multiple websites over different regions, all of which are managed by different teams who may not communicate regularly with their international counterparts and instead are operating in silos.
In addition, as these teams are operating in isolation, the metrics each department is monitoring and tracking may differ, and as a result, it becomes incredibly difficult and frustrating for international marketing directors to convey the ROI of their marketing activity.
It’s important to appreciate that, no matter the scale of your business, having clear alignment across your marketing and sales departments in regards to the metrics that actually matter (Key Performance Indicators) and the goals of your marketing activity, will allow you to build reports that actually demonstrate marketing’s true progress and performance.
With this considered, we have written a comprehensive eBook which details each aspect of international ROI reporting a large, multi-national organization needs to address, including:
- SMART Goals,
- Key Performance Indicators,
- Team & Website Management,
- Cross-channel Analytics,
- Cross-channel Reporting,
- International Comparative Reporting,
- And tips for measuring ROI in B2B Markets.
If you wish to learn more about how you can provide detailed international ROI reporting, download our free eBook: How To Get ROI Reporting Running for your International Websites and find out how you can improve the value of your organization’s marketing team.
Also published on Medium.