Return on investment is calculated by dividing net profit by total assets. The solution is the amount of profit a business makes either in its entirety or on a specific investment. Content marketing is a very effective way to increase ROI, according to Forbes. But on the flip side, it can also destroy it.
"Here's what we don't know: Content marketing is not as easy as whipping up some content and tossing it into the oven of the Internet," said Christine Comaford, Forbes. "Careful consideration and strategy is required, and sometimes, even with the best intentions, major mistakes can be made right from the get-go."
Digital marketing strategies like social media and online advertising have been used increasingly over the past few years. Search engine optimization (SEO) is a part of many digital marketing strategies. It is the process of affecting the visibility of a website, according to whatisseo.com. It can boost the amount of traffic a website gets regularly. Despite the uptick in digital trends, 83 percent of digital marketers surveyed by Sitcore still use print as a marketing platform, according to CMS Wire. But interchanging digital and print marketing campaigns is not recommended, according to MarketingProfs. The two should complement one another and promote the same message but neither is ready to work 'as is' for the other medium.
"Speaking of ROI, critics charge that print advertising lacks the detailed analytics of online reporting systems," said Mandy Edwards, founder of ME Marketing Services. "Don't let the naysayers fool you because there are lots of ways to track a print campaign. You'll know your ad is working as soon as someone walks in the door holding a flyer or a brochure."
Calculating ROI for print and digital marketing
That print marketing imposes high costs is an old adage, according to Edwards. If consumers know where to look, however, they can obtain print products for reasonable prices. Business cards can be a small way to tell something compelling about a business. Certain industries, for example insurance and realty, could benefit from brochures.
The intangibility of digital marketing has made it difficult to measure its ROI, according to MobileMarketingWatch. A study conducted by adobe demonstrated 30 percent of marketers felt they were doing a good job at figuring it out for their organization. According to a separate study conducted by Forrester Research, 14 percent of businesses felt their inbound strategy was 'very effective', as reported by Forbes.
"Businesses need to continue to find ways to tie their content marketing in with their overall business goals, in order to measure and prove its effectiveness within the wider goals of the organization," said Jayson DeMers, Forbes.
Marketing tips and trends looking ahead
Whether integrating multiple platforms or keeping a content strategy on a forced side of the print-to-digital spectrum, there are tips and trends that could boost ROI in the future. Not bombarding clients with unwanted clutter is an appropriate marketing technique. Some are saying that less is more and sending mail and flashy online advertisements to consumers too often can be bothersome, as stated in a separate Forbes article. It's important to know your audience, according to The Business Journals. Keep the destination and goals of a strategy in mind. A plan can ease the path to the results that strategists could achieve. Return on investment can be measured a number of ways including monitoring which visitors are new and which are returning to a website, according to Bussiness2Community. Print and digital businesses can measure who is visiting their site or using their product and which customers are returning and why.