Top 7 Digital Marketing ROI Metrics You Need To Know in 2022

How much is your digital marketing plan going to create revenue for you?

Every digital marketing plan should track return on investment. ROI is a measure of how much revenue a company makes after all the expenses, and provides clarity on worthiness of your investments. Positive ROI confirms the company is on the right track.Negative ROI confirms that you need to reevaluate your marketing strategies, that includes assessing the ROI of individual digital marketing campaigns. Which digital marketing metrics should be used and how these can be assessed in terms of return?  

Techsaga, with 12+ years of expertise and knowledge is a Digital Marketing Company, helps you transform your business that delivers a measurable amount of an investment, through business-centered digital marketing solutions.

In this post, we’ll discuss some vital digital marketing ROI metrics and explain how to use them to assess your return. To help you gain valuable insights into your marketing campaigns, we provide a suite of advanced marketing tools.

To know more, keep reading the blog!

How to calculate ROI?

The basic ROI formula includes subtracting the money you spent from your return from your earned money. Then, dividing that result by your investment, followed by multiplication of 100, will give conversion of ROI to a percentage. Calculating marketing ROI is not simpler, rather tricky as it involves  numerous campaigns over the long and short term that may contribute to one sale.

Calculating ROI over the long term

If you’re calculating your digital marketing ROI over a long term, adding marketing expenses and revenue.

Calculating ROI over the short term

Specifically, if the ROI of a specific campaign needs to be calculated through different digital marketing metrics and key performance indicators (KPIs) to determine its value. 

Few useful digital marketing KPIs are:

• Website visitors
• Conversion rate
• Cost per lead
• Customer lifetime value
• Brand awareness

Lead generated in a campaign has its own conversion time. Lead may enter your marketing funnel and can get converted after several years down the line, depending on various campaigns and types of content. 

For example, prospects can click your ad, signing up for your email list.

Few weeks or months later, clicking on the link provided in the email will land them on your website blog. From that landing page,further they may take interest in free trial. Finally, after the trial phase ends, they may make a purchase.

So, the lesson learned is immediate conversion/sale is not expected, and it's still valuable.  Above example shows that you might consider someone clicking an ad followed by registering with an email and signing up can be considered a successful conversion. Your conversion rate for your email list signup can be one of your KPIs metrics for your specific digital campaign.

Calculating digital Return On Investment over the long term can work, if your business has a long buyer’s journey. However, calculating ROI for specific digital campaigns helps you to track or  meet your goals.

Tracking the Digital marketing ROI metrics, helps you improve your campaign effectiveness and accuracy. 

Here we discussed 7 most useful marketing success KPI or metrics for calculating ROI.

1. Average sale price

Average sale price is a relatively simple metric, but offers accurate numbers while calculating your digital ROI. Your average sale price is the average gross revenue for a sale. Add gross sales revenue for a specific campaign run for a specific time and divide it by the total sales.

Average calculation allows you to know the amount for differences in price due to sales, discounts, and product variation.

2. Customer lifetime value

Customer lifetime value (CLV) measures customer;s worth for your business in their journey as a customer. To calculate CLV, average revenue from a customer in a year multiplied with the average number of years your customers stay with your company.

Then, subtracting the cost of retaining that customer from that final number.

3. Cost per lead

Cost per lead (CPL),also referred to as cost per conversion, is typically used for paid traffic. CPL is the cost incurred to the company to acquire a lead or a prospect — a user who expresses interest in your products, services, or company and may become a customer. To calculate this, divide the number of leads acquired in a defined period of time by the ad spent over the same period.

4. Lead close rate

Your lead close rate is the percentage of your leads which make a purchase. To determine your lead close rate, divide the total number of leads by the number of closed leads, multiplying with 100 to get the percentage value of Lead close rate..

5. Cost per acquisition

Your cost per acquisition time spent on ads to gain a new customer. Calculating CPA digital marketing metric, is to divide your digital marketing costs for a campaign over  a period of time by the number of conversions earned during that period or campaign.

If your cost per acquisition is lower than your average revenue from a sale, Your ROI is positive.

6. Cost per click

Your cost per click (CPC) is the amount you spent on single clicks by the user on your pay-per-click ad. To determine metrics of CPC, calculate total cost of your clicks over a given period dividing by the number of cost per click (CPC) . CPC calculator helps you to calculate CPC in a quick and effective way. If a company is using Google Ads,Google Analytics can help you get the CPC data,  alongside other useful information about your ad campaigns.

7. Conversion rate

Your conversion rate is the percentage of visitors that convert, and make a purchase, and sign up for an email list.  This metric is similar to lead close rate, but the key difference here is that one measures lead close rate over a long period, contrary to that conversion rate is typically used for specific campaigns. Your conversion rate narrates the importance and relevance of your landing pages. More conversions means positive ROI for your business.

Techsaga:Delivering Clients for more than 10 years

Through weekly communications, monthly reporting and strategy reviews we make sure every digital campaign is focused totally on delivering results aided by client-centric approach.

Why and How to Use Testimonials to Increase Website Conversions

Every business has  a primary goal which is to increase their followers and conversions.However, as the world economy is getting competitive with each passing day, it is hard to get noticed  by your prospects. Therefore, if you want your brand to stand out among others and outshine your brand– Client testimonials can do wonders and speak volumes.

Customer testimonials are vital for your ecommerce business, and serve as a form of affirmation for your products or services. Techsaga, is IT Company for E-commerce, understands that leveraging the digital strategies and right SEO strategies, online retailers can reap lucrative returns for their business.

Client testimonials is a social tool to increase conversions on your through social media. Client testimonials are also referred to as ‘social proof’. In other words,visitors can find value in your products and/or services if positive feedback is displayed on your website or social pages from other real-life customers. This helps prospects to make informed decision.

In this blog post, we’ll discuss why adding testimonials to your website can be valuable for your business? 

Reviewing a book, an apparel or a hotel stay are common these days. And in numerous cases, customers probably receive countless emails asking them to write their experience in a review.

Therefore, reviews or testimonials hold more value to a business than you may think.

Dedicated Testimonials Page Can Make a Difference:

A dedicated testimonials page can prove to be a goldmine for your business as prospects who seek social proof to make purchase decisions can invest in your product/services, if convinced.

A dedicated page helps you to convince your prospects about your products or services that require a lot of investment, and you need  more testimonials for them.

A dedicated testimonials page doesn’t need whims and fancies but the most important element on the page is content itself and golden words delivered by your happy customers.

Customer testimonials are one of the most important pieces of information on website and landing pages., from which prospects can get a clear idea about your brand. Good elaborative customer testimonials are 89% more effective in increasing conversions rates as compared to other social media tools. 

Testimonials vs. Reviews.Key difference?

Client testimonials are different from user reviews. Reviews are simply the user's own independent opinion about the business, and their nature can be positive as well as negative, depending upon the experience. Contrary to that, testimonial is a carefully curated and crafted statement highlighting the positive experience about the product / service. Testimonials are garnered by the company asking their best customers to provide insights on their product/ services. 

Client Testimonials: New-Age Social Tool Demonstrate Benefits

The goal of every testimonial proves credibility of  your brand showing potential customers how previous customers satisfied with the product/ services. Prospects always prefer to know that the product has been tried and tested successfully by other customers and so they recommend it to others for future use. Testimonials should not be from an anonymous user.

Successful testimonial addresses 3 challenges:

1.Eliminates pre-purchase anxiety of prospects:

The testimonial should address the doubts, hesitations or difficulties they faced before they purchased your product. 

2.Highlighting Post-Purchase satisfaction

The customer should share the results/ outcome of using that product, that they have used it. Customers should pinpoint how the product eliminated any of the negative pain points related to the benefits coming from this product.

3. Sharing the experience:

The customer should write how soon they achieved the results. Also emphasize on how insightful, confident, happier they felt after using your products. 

It is pivotal to ask your existing customers to ask for a constructive review but since they may not speak or write lengthy testimonials because of a hectic schedule around them, they may ask your team to carefully create a script post. Team members can gather points over a quick call session and it will be imperative for you in crafting a successful testimonial which is authentic and powerful leading to strong positioning of your brand among your target audiences. 

Customer Testimonials to Increase Customer Acquisition:

Social Media

Social media channels are the best platforms to share customer testimonials. Brands that share authentic user-generated content can build more trust among their user base with their social media pages like pages on Instagram, Facebook and LinkedIn. They provide opportunities to post customer testimonials alongside customer photos and profiles.

Search Engine Optimization

Search engines always hold weightage in terms of customer testimonials for a number of reasons. Customer- engagement through testimonial is a key factor for increased search ranking for your brand and to create hype. 

Testimonials bring a fresh and honest perspective and present relevant content that proves to search engines customers are interacting with your brand.

Reviews generally contain long-tail keywords that customers are actually searching or googling.

Should exhibit meaningful understanding of the product. 

E-commerce:

20% of eCommerce businesses lose their prospects due to an unclear product or service description. Therefore, Customer testimonials are a fantastic way to mitigate this issue and keep your customers buying. 

Testimonials optimization helps in a way that generic testimonials should be represented and the content of each testimonial should be focussing on your product, another one on your customer service, and another on your reliability or responsiveness. More benefits demonstrate to prospects leading to more engagement which is likely to convert.

Most E-commerce businesses are too complicated and an experienced team like Techsaga, offers Integrated Brand Promotion Company, with the right tools and strategies to make everything work in your favor. If you think it’s time to create a niche for yourself in the market, collaborate with Techsaga for proper guidance and how you can leverage digital marketing, SEO services and advertising for better ROI. 

Low-risk releases: Removing 8 common wastes from your software development life cycle

Even a well-functioning software development process can be a waste due to some bottle-neck issues. Inefficient teams, resources and processes can be a hindrance existing in your software development “factory.” For your software to be highly efficient, you need to address waste in a systematic and in a sustainable way.

In this technology-infused digitization, businesses aim to deliver quality applications successfully in an effective and quickest way. To meet this imperative is by rooting latency out of the application delivery pipeline, followed by DevOps practices that emphasize automated solutions.

Techsaga, is a leading Automation Software Development Company ,aimed to increase operational efficiency of business processes 

During these following seven stages, you’ll find waste in your software development life cycle (SDLC) and how you can solve them with a DevOps approach.

1. Overproduction

In your SDLC process, software professionals can produce a large set of bug fixes or features in this stage and are not ready to deploy. Team will keep on building the software, working on updates, while sitting idle. If the team is deploying every feature in single stages, chances are overwhelming your users with excessive feature additions and changes.

 

How to solve overproduction with DevOps

Your team should be in a position where it should create a pool of features at high velocity, look into your overall flow and reconsider shifting focus from quantity to quality. Faster bug fixing leads to better quality software with less defects and a better pace for delivering features to the customer.

2. Stagnation

Technically, this doesn’t cost much to store stagnant software “inventory,” but organizations have paid their teams for the unfinished tasks which are not seeing any returns. Partially completed work will cost the organization much higher when trying to address these tickets later on.

Solving software inventory issues with DevOps:

Instruct your team to prioritize tasks If you find, for example, piles of unfinished projects, and none of them gets completed on time, their scope of work is too broad. Devote resources and time to proper backlog refinement and story adjustment.

3. Software Motion through SDLC:

Transferring software from one stage of the software development during the life cycle to another is termed as “motion”. Each phase transition is an opportunity for a roadblock to introduce waste into your process.

 

How to solve motion roadblocks with DevOps

Identify bottlenecks with mindfulness that how they would affect the flow of software during the life cycle. Prioritize removing those bottlenecks so that developers won’t be waiting for something else to happen before they initiate the task.

4. Preventable defects

Software product development cycles can never be defective-free. Software continuously evolves as due to innovation in technology, changing landscapes and more. In a year, your software will not be the same as it is today. But these defects are treatable and rework must be done to decrease customer frustration.

 

How to address defects in DevOps

Right process application witnesses improved software flow, with quality and sees fewer defects. Quality can be achieved through automated testing processes. A well-built testing process easily catch-up the defects in a small unit of work, also will require minimal effort to change it later.

5. Feature bloat

Too many features will make your dashboard a complex to navigate. More features will lead to software bloating, the greater the chances of something going wrong.

 

How to solve over-processing with DevOps

Proper backlog of tasks ensuring seamless runaway feature sets from being deployed. Team should not create features the customer doesn’t need, as they will be needing time to work on identifying and preventing defects. 

6. Wait time

Longer waiting time for processes like features integration, testing or deployment leads to bottlenecks in the process, as it will cause delay or slow their work process.

 

How to decrease wait time in DevOps

Focus on creating and maintaining your value stream by filing time between the gap in the stages from deploying stage to production. Deploying automation is a great idea to reduce time wastage between those steps, prioritizing the gaps which requires least effort to solve. Most issues with longer waiting time can be eliminated with automation or a policy change in a process. For example, any approval process which needed manual intervention of humans can be replaced by some other checking methods.

7. Transport

Transportation of software never adds any value to the SDLC cycle. This phase or stage includes making the created product reach its destination. In software, “transport” ecompasses the time which is the time consumed while building the software, testing and approved for release and the moment when the customer uses it.

 

How to solve transportation issues with DevOps

Transport issues of software can be handled with an integration, where artifacts are in motion. Implementing and integrating automated processes in software will enable you to push software into an environment for testing and deliver it as soon as it's deemed customer-ready.

8.Environments

One of the most common wastes of the current software development processes which includes Agile methodology, is setting up development and testing atmosphere. Each time a new software developer joins the team, teams in an organization spend a considerable amount of time setting up and configuring Dev/QA environments. Additionally, if any change needs to be done in configuration of existing applications, then software developers/IT staff get involved in reconfiguring the testing environments accordingly.

Testing environment is created by setting-up dedicated test servers and any changes to application configuration requires the dedicated test server’s configurations to be changed relatively. A self-service test environment is a complete automated process. However, software development from self-service DevOps and test environments is completely automated using containers such as Dockers, CoreOS and configuration management technologies such as Ansible, Chef, Puppet, etc. The human intervention and time involved in these environments is completely eliminated.

Wrap Up!!

Nowadays, Software development teams from DevOps are changing the way that software is developed and deployed. IT companies are adapting the DevOps settings adding value in the software development process and to the customers and be in sync with the changing technology landscape.

 

Being a top Mobile app Development Company in Noida, Techsaga can take you forward on your DevOps journey to continuously improve the organization’s performance in terms of profitability, productivity, and customer satisfaction.our software engineers will provide the best end-to-end cloud cost optimization solutions and produce cloud based infrastructure to handle on-demand project requirements. Consequently, you can spare time and budget for other business-focused purposes.

Above discussed warning signs can help you to keep a lookout and take action at each stage required. Map your waste against your SDLC process to help you take a structured approach to analyzing your software flow. Inefficiencies with purpose can be addressed as they arise. Reducing waste within your process will help you increase velocity, the value you deliver to customers and your company’s bottom line.

5 Tips To Consider To Save Time During The Software Development Life Cycle Process

It has been found that 85% of software projects run according to the schedule and the process of development of software solutions becomes difficult when things do not go according to the proper planning and time. Therefore, it becomes imperative for the software projects to be delivered within the scheduled time. If you are looking for a Mobile Apps Development Company,  you can surely contact the platform of  Techsaga and this will help you solve all the problems related to software and mobile apps development. Mobile apps development company, Techsaga corporations enables connectivity of customers and business owners through digital medium and helps them improve business strategies and techniques to achieve targeted goals. 

As far as five tips to save time during the software development lifecycle process are concerned, they have been mentioned as follows:

Understand the requirements of the software before beginning its lifecycle

If there is a particular requirement, it has to be dealt with proper guidance such as designing and coding there are some important questions that need to be asked to establish the requirements and these questions are as follows:

What is going to be the purpose and objective of the software or the project?

When is the requirement of the software? Its requirement has to be as specific as possible and it can be either after a year or two months or it can be very soon.

What kind of features and functionality does the particular software require to have for its further processes? It is very important to start with the most important feature and a new feature must be included so that users can understand and use them.

How will it be possible for you to know whether the software was successful or not?

These questions can surely create a clear road map for the project and communicating the road map with the team members will be an additional benefit to making the software successful.

Usage of software automation tools will be great

As far as software development projects are concerned, they can consist of two or three developers but when the project is big, there can be a requirement for a large number of individuals to work on that particular project. Once the developers finish their task of the project, they move on to the second project. When it comes to the transition among the team members, automation tools play a very important role. These tools also complete the repetitive tasks which may not require complete expertise or creativity by the team members.

Founded in 2012, Techsaga is a leading Software development company, that has a creative team of professionals who can comprehend the needs of the client's business with key business insights to deliver results. 

Saying “no” to necessary features will be great in the software development lifecycle

The brand can ask for various features to be added to the software but do the users need them? This question must arise because it is, after all, the question related to the requirement of the users. If the users don’t need the feature, it may not be necessary and it will be a waste of time for any company to add unnecessary features. The project needs to begin with a requirement after the full analysis of what the users want. Without having a complete analysis, it will be very difficult for you to understand the features that the users want.

Continuous test of software functionality is advantageous

For any software to face any problem is very common and because of this, testing software functionality throughout the software development lifecycle continuously is going to be great. This can ensure whether the software is working properly or not. It will also reduce the time which is spent on fixing the bugs of the software. This particular continuous test will also ensure that the problem will not be able to delay the project related to the software.

Communication becomes the most important key in software development projects

A team with great communication and collaboration certainly becomes successful when it works on any project related to software development and in addition to this help, automation tools are going to be great to help the team.

It is also important for team members to understand that the communication is not just meant to begin a particular project and end it by just informing about it but it is about understanding the project and working on it in such a way that the quality of the project can be taken care of in a great way.

It is important for software development companies and software development project brands to nurture great collaboration and communication among the team members to work on a particular project sincerely.

 Team meetings among the members can considerably improve the performance of the project but only if the team meetings are done in the right way. It also happens that team meetings can also be a waste of time if they are not done with complete sincerity. There are various brands present online that know how important it is to understand the importance of communication among the team members to make a particular project related to software development successful.

Conclusion

All the five tips mentioned above are great to save time when the work on any project related to software development takes place. If you want to have a Mobile Apps Development Company,  you can contact Techsaga which will help you in this process. If you want to have the details, you can surely visit the website of the platform of Techsaga.