I would like to welcome Paul Collins to NAG today. He is here to talk about the all-important return on investment (ROI) when it comes to social media and internet marketing and why it is important. Enjoy!
When it comes to putting your investment behind any marketing or promotion campaigns, the first question you will have to tackle in front of your team is the returns of investment in the said promotion. The idea of returning revolves around a certain measurement number that can allow the brand team or marketers to judge the kind of impact a certain campaign has had over the brand in terms of sales, following and other aspects of brand equity. Similarly, when it comes to investments in social media and internet marketing, the question of the kinds of returns on investment one can earn is still there.
The growing element of internet marketing is present in today’s world for one sole reason and that is the multiple ways a company can benefit from its returns along with really amazing cost efficiency articles. The kinds of cost efficiencies that one can bring with the investment in social media is really strong and better in comparison to traditional means and ways of marketing and promotion. This is why the growth in social media has been resounding and a huge success for a lot of brands and companies who have taken the threshold of their budget and invested into these new avenues to be explored. Today’s blog is going to talk about different types of returns on investment in social media and internet marketing that a business or a company can earn, based on their preferences and settings.
Generating leads by Paying Only for Clicks
The basic internet marketing module runs on two important elements of costing and efficiencies where you can easily earn some of the best returns. One of those elements is paying only for the clicks you earn. This means if you want your promotion campaign to provide a handsome amount of sales leads in return for your investment then you can opt for this model where the internet will only charge you once a user clicks on your advertisement and officially becomes your lead to contact.
Paying for Awareness
Another element of the costing and efficiencies that you can go for is paying only when people get to see your ad and get the awareness about you. This is based on per 1000 views, so every time you complete 1000 ad views, you will be charged. This is again a very effective model and provides the most efficient return if you are aiming to register your brand in the minds of your consumers and online users.
Paying for Conversion
Another way to earn returns on your social media and internet marketing campaign is to pay for conversions you earn. You can set up a preference where you are only charged when you are provided with a returning customer calling your business to place orders. This is largely adopted by many restaurant chains abroad.
Paying for the Purchase
This is the payment and return mode where you are asked to pay only when a customer completes a purchase from your website, this again is a very good model for websites based on e-commerce.
Paul Collins is the author of this blog post. Paul works as a social media consultant for an agency in Canada. He likes to post blogs on the website Dissertation-House-UK and his blogs are usually about internet marketing.