An algorithm for organizing the work of marketers to achieve the best ROI

Hi everyone!

Today I want to talk to you about the effectiveness of advertising investments. Maybe, you regularly use PPC to promote your site and quickly attract new customers. There are several ways to calculate how effective investments are, but the most commonly used is ROI.

ROI (Return on Investment)?shows how profitable the project is, taking into account ALL investments in it. In this case, you should calculate all types of expenses, including renting your office, salaries of employees, and other running costs.

By constantly monitoring and analyzing ROI, you can timely adjust your advertising campaign and get better results. But how can this be done in practice? Let's figure it out.

Say, you're running an ad campaign on Google Ads. Then the order of actions will be as follows:

1. Set up Google Analytics to see revenue and expense for each keyword.

2. Optimize keywords for a specific period (for example, three months):

• set up reporting by keywords;
• disable all keys that spend the advertising budget but do not bring in leads.

3. Raise your bids for the most profitable and converting keywords. These words generate leads and have an ROI of over 100%. Increasing these bids helps your conversion words win the auction more often and climb higher in search results.

4. Adjust your budget for keywords that generate little revenue. You may not need to disable them entirely (for example, when the word is targeted and brings high-quality traffic). You can lower the rates on it and continue monitoring.

The typical approach is to leave phrases that do not spend much of the budget and almost do not generate income.

5. Regularly check the advertising campaign and respond to changes in indicators.

If you notice that the company is not delivering the expected results, do not be afraid to stop the process. It is better to stop the advertising campaign now and reconsider the marketing strategy than to be left with nothing by the end of the campaign.

?? Read also:?PPC for law firms: How to benefit from a marketing campaign.?

Please note that ROI figures do not always accurately reflect the actual situation.

Example 1. Long trade cycle.

Imagine the situation. The client has seen your advertisement on the Internet, followed the link to your legal website, and left an application on the website. You began to communicate with the client and discuss the transaction details, but for some reason, the contract hets signed much later. For example, the first application came in in the first quarter, yet the deal completion happened at the end of the second quarter. In this case, you may not be able to calculate ROI correctly because a very long time separates the cost of advertising from the profit from the deal.

Example 2. Cooperation in complex markets.

Calculating ROI is tough if it takes a lot of time to close a deal while you provide different types of services throughout this period.

Example 3. There is no proper organization of the work of your managers.

Suppose the ad has generated 300 applications. In one firm, the sales department worked efficiently and quickly, helping to get the highest profit from all applications. Managers of another firm (or the lawyers themselves) were slow to respond to requests and lost an extra 100 potential clients. Advertising worked equally well, but firms have different ROIs.

However, my experience is that with the correct management of an advertising campaign, some serious results can come in.

A few years ago, a client who had difficulties promoting his company (based in a highly competitive area - Midtown Manhattan) approached Lasting Trend. The office is on the 12th floor, so there was no chance of attracting potential customers by putting up a flashy sign. The company tried to advertise on the Internet, but it wasn't successful either.

To understand the reason for the failure, we have conducted a deep research, and then just discontinued more than 50% of advertising for this company without any regret! We directed the saved budget to other advertising channels and campaigns. As a result, we increased the website conversion by 135%.

?? You can read more about how Lasting Trend achieved this success at?LaptopMD PPC Campaign.

If you want to know more about how to make your firm get the maximum profit from advertising campaigns, ask your questions in the comments section below!

Good luck!