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Posts Tagged ‘ROI’

71% of businesses want bigger digital marketing budgets for 2013

Thursday, February 7th, 2013

iStock_000016422246XSmall (2)New research from Econsultancy and Responsys Marketing Budgets 2013 Report has shown that almost 3 out of 4 businesses intend to increase their digital marketing budgets this year – whilst only 20% intend to increase funding for their offline marketing pursuits.

The survey, which took into account opinions from more than 800 professional marketers, also highlighted particular digital areas where the increased funding would be pinpointed. The top five results were:

It is unsurprisingly that content marketing has come out on top, particularly when a previous Econsultancy survey showed that 90% of professionals predicted that the area would become increasingly important throughout 2013. However, with more than half of all respondents planning to increase their funding to all five of these disciplines, it is fair to say that digital marketers should be focusing on all of these important aspects as part of their strategies.

However, whilst digital marketing budgets are set to increase, and marketers seem to have a good idea of the areas they will turn their attentions to, they are still finding it difficult to measure the return on their investment. Only 50% of Econsultancy’s respondents claimed that they had a ‘very good’ understanding of their digital ROI, and 18% went as far as to say that their understanding was ‘very poor’.

Digital marketing is a valuable resource for any modern company, but it’s essential that marketers try to get a grasp on the results that it produces. Do you know how to measure your company’s digital ROI?

Social media efforts can boost profits, says study

Monday, January 21st, 2013

Keyboard with three money keysSocial media has become an increasingly significant part of the digital marketing sphere over the last few years, but some business owners remain unconvinced that the return on investment (ROI) is significant enough to prove worthwhile. However, a new study from the University of Buffalo has proven that social media can help a business to build relationships, increase brand awareness, and generate profit simultaneously.

“There have been doubts about the effectiveness of social media for business because the link between a firm’s efforts and the ROI hasn’t been established,” Ram Bezawada, assistant professor of marketing at the School of Management and co-author of the study, explained.

“Our results show that when customers engage with a business through social media they contribute about 5.6% more to the firm’s bottom line than customers who do not … Social media activities help strengthen the bond between the customer and the firm – and boost financial performance.”

Bezawda also offered advice to companies who need to further develop their social media plans in order to attain this level of success: “When building communities, businesses should craft personalised messages, encourage member contribution, integrate knowledge about customers from both online and offline interactions, and create specialised sub-communities for customers looking for premium and unique products.”

The full study is scheduled to be published in the Information Systems Research journal later this month, but all evidence so far points to social media being a useful tool for both personalisation and profit.

How to make sense of SEO jargon

Monday, October 1st, 2012

SEO is one of the most integral parts of any digital marketing campaign, but with so many breakthroughs and developments happening in the industry, it can be difficult to keep up with all of the terminology. Luckily we’ve put together this jargon buster, to help you make sense of the terms you need to know.

Algorithm – Usually mentioned in reference to Google, an algorithm is a system used by search engines to select the chosen pages for a particular search term or phrase.

Back link – As simple as it sounds, a back link is any link which comes to your site from any other page.

Black hat – Black hat SEO essentially means negative SEO techniques, which can involve anything from link spamming to keyword stuffing.

Keyword – A keyword is any word or phrase that a web user searches for. You can target your campaign so that your page shows up for particular phrases.

Metatag – Information about a page, which is shown on SERPs but not always on the site. The statements are used by search engines to determine the focus of the website.

ROI – An abbreviation of return on investment, or the measurement of the success of a campaign.

SERPs – An abbreviation of search engine results pages, SERPs refers to the order that search results appear.

White hat – The opposite of black hat SEO, white hat SEO means the use of positive SEO techniques, such as content marketing and link building.

Social media and the marketing mix

Wednesday, September 26th, 2012

A new survey of 650 marketing professionals has revealed that almost 70% of companies agree that social media is integral to their marketing mix, with 66% saying that social is integral to their overall business strategy.

The research, conducted by digital marketing forum Econsultancy and software company Adobe, was part of The Quarterly Digital Intelligence Briefing: Managing and Measuring Social report, which “examines the trends for managing and measuring the business value of social media.”

An infographic was released along with the report, highlighting a number of other key statistics from the survey. For instance, a breakdown of the use of social media showed that content marketing, brand awareness, marketing campaigns, and customer services are the most common methods of interaction. 86% of brands are using Twitter and Facebook to implement these techniques, with 59% also using Youtube, and 37% using relative newcomer Pinterest – the latter platforms demonstrating the increase in demand for visual content for social.

However, companies confessed that social media marketing is not without its difficulties – particularly when it comes to measuring return on investment (ROI). Only 23% of businesses are measuring whether use of social has lead to conversion, and 67% believe that social marketing needs to be more rooted in data.

It seems that social may well be the future of the digital realm, but better systems are needed to accurately measure and confirm its effectiveness, and quell the existing doubts.

The biggest digital marketing mistakes

Monday, September 17th, 2012

There are hundreds upon hundreds of articles telling you what to do if you want to create a successful digital marketing campaign, but articles which tell you what not to do are few and far between. Whilst we all like to focus on the positive, it’s important to be aware of some strategies that it is advisable to avoid as well, so here’s our guide to some of the biggest digital marketing mistakes.

Including digital as an afterthought
Digital marketing cannot simply be a subsection of your overall strategy anymore. It’s a whole area of marketing in its own right, and as such, deserves a high level of attention, in terms of time, budget, and ultimately, enthusiasm. It’s not necessarily about traditional vs. digital – it’s more about the collaboration of the two, and creating an all-encompassing strategy that caters to a variety of audiences.

Having a substandard website
Your website is the centre of your digital world – your emails will promote it, your social media post backlinks to it, and anyone who searches for your keywords will (hopefully) find it! Making sure your website is up to scratch isn’t a waste of money – it’s an investment in your key digital presence.

Not measuring your ROI
No digital marketing campaign is going to feel satisfying if you’re not measuring the return on your investment. Make sure you have measures in place that show you how effective your current strategies are – this will allow you to identify areas that need work, as well as enjoy the success of those which are already working!

Social network considerations now part of SMEs’ graduate recruitment process

Friday, September 23rd, 2011

Nearly 70% of SME decision-makers say that a graduate’s experience in social networks and tools is important to them when considering them for hire.

According to a new survey from OnePoll and sales software company Salesforce, 76% of graduates are also attracted to employers who actively use social networks and tools.

The survey aimed to find out the importance of social networks during the recruitment process.

It also looked into stats regarding the use of social networks by SMEs – and showed that nearly half (47%) of those surveyed use social networks and tools to engage customers and prospects.

Meanwhile, nearly 70% of respondents say that social networks and tools are important to the future of their business. This figure rose to 86% amongst decision-makers aged 18 to 24.

SMEs are also more liberal regarding the use of social networks in the office. Only 15% of SMEs ban all use of social networks whilst 37% have no restrictions in place at all. This could work in those SMEs’ favour, as 40% of graduates surveyed said that they would be deterred from working for a business that had banned Facebook and Twitter.

Nearly 30% of managers in SMEs look to new graduates to teach them about how best to use social networking sites to grow their business.

Tim Barker of Salesforce.com said: “To attract and retain tomorrow’s talent, SMEs need to understand social networks and tools and use them to engage with customers, prospects, employees and in the recruitment process.”

Social Media ROI stats

In a more modest research project (in partnership with Glasgow Caledonian University), we’ve actually been doing our own SME survey, looking at SME Return On Investment (ROI) by using Social Media. The first outputs can be found in the links below:

Prezi : Social Media ROI Survey – as presented at the Turing Festival in Edinburgh, and Social Media Week Glasgow.

Return on Investment: What Literature Exists on the Use of Social Media and ROI? – an annotated bibliography of academic journal articles, professional publications, authoritative blogs and other resources that address social media and return on investment (ROI).