If you believe that you’re not wasting resources on digital marketing, I have a surprise for you! Most surveyed marketers say they cannot prove the ROI (return on investment) for their digital marketing efforts, particularly on social media and content marketing.
Oh no, you say!
Sorry to break bad news, but TrackMaven’s Marketing Leadership Survey: Strategy, Technology, and Data-Driven Management 2017 demonstrates that the biggest challenge for over 71% of surveyed marketers is proving the ROI of their social and digital marketing efforts. And many of us assumed that digital marketing would make tracking easier than traditional marketing!
These aren’t unique results either. Last summer, MarketingCharts posted results from The CMO Survey that showed how difficult it is to show the impact of social media marketing efforts on businesses. Without evidence, we can’t assume that the same results would apply to nonprofit organizations, but typically, they tend to fall behind their for-profit counterparts.
The TrackMaven survey doesn’t say that marketers aren’t trying to measure their results – the top three metrics they use are: engagement metrics (91%), consumption metrics (82%), and audience growth metrics (78%). What it is saying is that only 27% of them consider themselves very effective at demonstrating the value of marketing efforts internally. Most (69%) say they’re only somewhat effective. Ouch.
It’s January and there are an infinite number of blog posts and articles advising you how to market this year. Yes, even I am guilty for my post on marketing predictions for 2017. 😏
Yet, determining which marketing tactics will be popular, trendy, or actually effective is another story. When your business or organization is on the small-medium side, you don’t always have the luxury of internal experts to guide you.
So, where to focus and how to make your daily marketing efforts manageable? Here’s the first with the other two to follow next week.