Tips for effectively tracking ROI for online advertisers

Most everyone is familiar with the term ROI (Return on Investment). If you have taken an introductory business course this was probably one of the first topics covered. I have found by working with clients there are many ways to better track ROI when it comes to advertising. Working on multiple NewsBrief projects here at MultiView taught me multiple metrics that can be calculated and evaluated for ROI. For example, CTRs (Click through Rates) or CPMs (Cost Per Milli), among others.

1. Switch out the message

When working with clients for the American Physical Society’s APS Weekly NewsBrief, there are times when I recommend clients switch out their display ad/message to keep it fresh. Think about this for a minute. Let’s say you’re reading an email newsletter that you’re highly interested in which goes out daily. A banner ad at the top remains the exact same for two straight weeks. Recipients begin to ignore the top ad since they have seen it multiple times. Now if you then change it to an entirely new banner ad using different color schemes and text, the recipients will again take notice to it.

2. Add a phone number, email address or URL

Adding a phone number or email address to a message can better increase the tracking methods for companies and help to source inquiries. Companies may have multiple email addresses and phone numbers, which may be specific to sales or general information. There are times when I recommend clients add a specific number, perhaps a direct number to the sales staff. This would ensure recipients who called in would properly be directed to the right member of the team.

Large companies may also be able to assign a specific role to an employee of ensuring inquiries are properly sourced. The same applies to email addresses. I tell clients and companies I work with to add an email address specific to sales or a direct email address for the sales/service rep they want fielding inquiries. Having a proper URL link that is in line with the message on the banner can be overlooked by companies. In some instances, the focus of the message can be directed to a page on a client’s website which may be entirely unrelated to the ad. This results in losing the ability to better track ROI.

3. Source inquiries properly

In the company where I was employed prior to arriving at MultiView, our goal was to ask everyone who was inquiring about our services how they heard about us. I am surprised how this simple, yet effective tracking method can be left by the wayside. Most clients tell me they do not use this tactic. By using this tactic, my previous employer was able to determine which methods were generating positive results, thus able to focus the company’s marketing dollars in the appropriate avenues.

4. Have a “call to action”

Using a “call to action” in the advertisement’s message is also key in better tracking ROI. By “call to action” I am referring to a message that prompts the viewer of the ad to click on the banner. For example, text on the banner may read “Click here for a free demo.” The text prompts the interested party to take action by clicking to receive the promotion. Companies that lack a “call to action” in their message could miss out on potential buyers, whereas others that incorporate this tactic could drive more timely traffic to their website.

By incorporating some or all of the above tips to track ROI, clients can measure the benefits of MultiView’s display ad products. So instead of throwing ad dollars into the wind, take the advice above and apply it to your target market via MultiView’s industry-specific digital products.

Trackbacks

  1. […] To read on how to make the most of your digital media campaign read Jared Hernandez’s Tips for effectively tracking ROI for online advertisers. […]

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