How Do I Track the Net ROI of My Marketing Strategies?

"I Need to Measure My Overall Marketing Performance Based on Returns"

Calculating Marketing ROI

Your marketing ROI, or your return on marketing investment (ROMI), gives you an overview on how your marketing strategy as a whole is paying off by honing in on the returns that came from marketing investments alone. You can calculate ROMI in a given period with this equation:

Sales Growth - Marketing Cost / Marketing Cost = ROMI

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Analyzing Your Marketing and Sales Data

Of course, this equation assumes that all your sales growth in that given period resulted from your marketing efforts in the same period. It's not quite that simple, because old marketing strategies can pay off in the future, and some sales are made organically without the help of paid marketing.

For your ROMI to provide value and inform decisions, you need to have comparisons. Measure ROMI monthly to make the most of the metric. Looking at the rise and fall of ROMI over time will show the impact of your marketing strategies more clearly.

Here's How gardenpatch Can Help You With Marketing Reporting And Analytics

Marketing Performance Dashboards

There are lots of marketing metrics tools out there, but marketing performance dashboards combine different measurement tools into one. They monitor your performance by pooling data from your website, social media accounts and more. This way, you don’t have to collect data from different places to track ROMI.

Marketing Performance Reporting Services

You can outsource your ROMI reporting and analytics to experts, or use a software that automates marketing performance reporting. Technology can deliver metrics and charts quickly so that you can utilize the information to your advantage sooner.

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