Turbocharge Your ROI

In today’s Marketing Pulse, gain insight into how:

• Virtual events can be a significant driver of ROI, especially if marketers understand the importance of platform selection, registration tactics, and post-event follow-ups.
• Marketing profit & loss statements now require a more nuanced understanding of ROI measurement, considering the complexities of PR and media advertising, while ensuring accurate evaluation of different marketing channels.
• An effective go-to-market strategy serves as a company's blueprint to success, covering all aspects, from identifying the target market to measuring KPIs for sustained growth.

These articles are penned by members of Forbes Communications Council, key marketing and communications leaders shaping the future of these fields.

Let’s dive in!

Driving ROI with Effective Virtual Events ??

Virtual events are not just alternatives to their in-person counterparts, but serious revenue and engagement-driving platforms. The key to unlocking significant ROI from these events lies in identifying MQLs and converting them to long-term clients.

Check out these tips to ensure maximum return on investment:

??? Choose the Right Platform: The best platform understands your event's needs and reflects them with essential features. Investment in automation can help optimize sponsors' requirements while providing valuable data insights.

???Ensure Successful Registration: The journey towards ROI commences with a high turn-up. Keep in mind industry events, and holidays, and create compelling content to stand out amidst the internet noise.

???Boost ROI During the Event: High registration rates don't guarantee high ROI. Personalize experiences to relate to participants' unique interests and create a sense of urgency to attend events live.

?? Focus on the Aftermath: Follow-ups increase the likelihood of leads converting into customers. Use data from the event and other marketing touchpoints to provide a more personalized customer journey.

By tracking ROI metrics and integrating event data within the broader marketing strategy, marketers can maximize their returns.

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Maximizing Profits: Effective Strategies for Marketing ROI ??

Evaluating return on investment is crucial for all businesses, especially for marketers, to justify spending in their P&L statements.

Here are some strategies to maximize the value of your Marketing P&L information:

???Establishing Marketing Profit and Loss: Total your expenses for each marketing activity and subtract from the income it generates. Use KPIs such as sales conversions, follower increases, or website traffic.

???Public Relations in Marketing P&L: Understand PR as a long-term strategy to build thought leadership, credibility, and third-party validation. Measure impact via brand perception changes, third-party validation, and tone of conversations about the brand.

???Propagating?Media Advertising: Strike a balance between upper and lower-funnel advertising techniques. Upper-funnel advertising exposes your brand to a wider audience, while lower-funnel techniques culminate in direct sales.

???? Evaluating Channel Performance: Differentiate between brand-building and sales-focused channels. Use tools like Google's Brand Lift for brand-building channels and direct ROI or return on advertising spend to measure sales channels.

Align these goals with overall business objectives to secure brand consistency and a foundation for growth.

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The Blueprint to Business Success: Effective Go-To-Market Strategy ??

A GTM strategy outlines how a company will sell its product or service to consumers efficiently and successfully, offering benefits like clear direction, efficient resource allocation, reduced time-to-market, and competitive advantage.

Key components of a GTM strategy include:

???Target Market: Understand the needs and buying behaviors of your audience. Knowing their pain points is essential.

??? Unique Selling Proposition (USP): Define and highlight what's unique about your offering to stand out from the sea of services and products that already exist.

?? Pricing & Positioning: Determine your pricing strategy and market positioning. Knowing if you’ll be a cost leader or differentiate based on value is key.

???Marketing & Distribution Channels: Whether via traditional media, digital markets, or distribution partners, determine what platform is best for sales and which channels are best for promotion.

???Metrics & KPIs: Decide on the metrics to measure the success of your GTM strategy to shift tactics where and when needed.

A well-executed GTM strategy can guide innovative products to market success and propel a company to new heights.

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Wrapping Up

If these articles sparked your interest, we have a network that you will absolutely love: Forbes Communications Council.

This exclusive, vetted community brings together the brightest minds in marketing and communications — founders, CEOs, CCOs, CMOs, and other senior leaders of marketing and communications teams.

Put yourself at the forefront of innovation with access to publishing opportunities on Forbes.com, a personalized, SEO-friendly Executive Profile, and the chance to network with other respected leaders in the field.

Join Forbes Communications Council today, and become part of a group driving transformation in marketing.