Business Owners Key In On Marketing ROI, Customer Value In 2015
Click to Listen
Survey Results: Return On Investment, Engagement Are More Important That Traffic, Clicks
Forward Push surveyed 100 American business owners (50 employees or less) to see how they prioritized marketing ROI, customer value, link clicks, and other marketing success metrics. This article is part of a series that takes a closer look at the results, including the emphasis on ROI and engagement over pure traffic or clicks.
Question: In 2015, what do you consider to be your top marketing success metrics?
Participants were asked to select their answers from six options. Based on average ranking, the overall results for small and medium marketing metrics were as follows:
- Marketing Return On Investment (ROI): Selected 51 times
- Lifetime Customer Value: 46 times
- Audience List Growth: 29 times
- Social Activity: 22 times
- Conversion Rates (Sales Directly Attributed To Digital Marketing): 21 times
- Engagement Rate (Opens, Clicks): 19 times
Analysis: Marketing ROI Leads Focus On Engagement
The results of the survey show that small businesses have recognized the importance of building customer relationships instead of just seeking direct transactions or website traffic. Why is this important? Things like marketing ROI and lifetime customer value achieve two separate but very important goals:
- Ensure that every dollar spent is focused on creating a stronger one-to-one relationship with both existing customers and potential customers.
- Create a long-term brand awareness and strategy so that revenue and customer bases remain sustainable and successful through economic ups and downs.
The difference between between direct conversion and long-term ROI is important. A conversion from online ad clicks or search engine hits is certainly valuable in driving sales, and that direct income is key to a small or medium business’ overall revenue stream. However, success becomes much more sustainable with loyal repeat customers — customers who not only come back to you, but build your foundation for new customers through word of mouth.
Without focusing on long-term relationships and ROI, transactions are one-and-done affairs that offer limited ripple effects on future business. Customer engagement, brand awareness, and relationship management are all worthy investments put towards the goal of the bigger picture.
Looking Ahead: Reap The Benefits Of Content Creation, Social Media
Many of these marketing metrics can be drilled down into truly trackable data, thus showing more tangible numbers behind marketing ROI. Both free and premium tools are available to stay on top of this, and as your 2015 marketing plans get into full swing, the ability to crunch data is a worthwhile investment in both time and money.
Business Owners Key In On Marketing ROI, Customer Value In 2015 is one of four parts breaking down Forward Push’s 2015 marketing survey with small business owners. To learn more about how small and medium businesses are approaching their 2015 marketing needs, download the full guide.
By Marc Apple
Marc Apple is recognized as a leader in the marketing industry and has 20+ years of experience helping businesses of all sizes improve their digital marketing. He specializes in website design, SEO, social media, and paid search programs. He is a frequent contributor to other marketing websites and speaks regularly about marketing to small business owners and startups. To learn about Marc and to contact him, visit his author bio page.
7 Steps to Having a Digital Marketing Plan Workbook
Get actionable tips for how to build your digital marketing strategy so you can grow your brand and your revenue.