Option 1) The first step should be to plan your marketing investment. You should have a clear goal for the money you’re investing and your goal should take into account the costs associated with delivering your product or service to your customers (“Cost of Goods Sold”). Together with a clear understanding of which sales and new revenue has come from your marketing investment (commonly with the combination of conversion measurement and revenue attribution,) you have the data required to calculate your return on investment. (New Revenue – Cost of Goods Sold)/Marketing Spend x 100 = ROI
Option 2) Contact CAYK today. We specialize in the use of data to prove the impact of the strategies we implement. If you want the outcome without the burden of figuring out the math, we can help.