Tracking your ROI allows you to make cost-effective marketing choices, determine how much each new client costs and avoid mistakes.
Track your marketing efforts, down to the number, helps you determine where your time and funds are best spent for maximum effectiveness. Tracking the effectiveness of your ROI creates a clear correlation from where your marketing dollars are spent and how many leads and clients you’ve reaped as a result. The basic return on investment formula is:
ROI = (Net Profit / Cost of Investment) x 100. Compare the ROI of the varying ways you are getting your leads.
Jay & Julia Taylor own and operate Caney Creek Studio. Caney Creek Studio is a video production, digital marketing, and social media management agency.