How to Calculate Your Online ROI – ByzHub Blog

Visual of online ROI

Social Media is the buzz, however social media should be one of several tools in your tool belt for your overall Internet Marketing strategy.  Do you have a strategy?

Is your website at the center of your strategy for the simple reason that you control it.

Whether you are doing Inbound Marketing (New Marketing) or Outbound Marketing (Old Marketing) you still need to create content.  I choose Inbound.

Formula:

Content Creation X (*Social Media + SEO + PPC + Email) = traffic to your website/blog (*Social Media is about building relationships more then driving traffic to your website.)

 

Hubspot stats show that companies who Blog get 55% more traffic than companies that don’t.

When you create content you have something to talk about.

Tip: Add value and people will trust you.

You now have more people coming to your website, when people arrive some will browse, is there a CTA (call to action)?

The next part of the formula is to track your conversion on your website.  I use google analytics to track visitors.   5 buyers / 100 visitors = 5% conversion.

What is a good conversion rate?

Your definition of conversion might be a 1 on 1 consultation and then how many do you close?  Every business is different.  If you sell a $20 million widget and you only sell 1 for every 10,000 visitors your conversion is 0.0001% but your sales are better then most.
2000 vistors a month X 2% conversion = 40  (1 year = 480 converted)Test & Measure

2000 visitors a month X 8% conversion = 160 (1 year = 1920 converted)

In a Nutshell: Drive traffic to your website, have a CTA and track conversion.

Been selling Speed-Sew Fabric Glue internationally for 23 years. ByzHub was a dream of mine that I made a reality. Love #Crossfit.

Extremely fascinated by social media and internet marketing. My kids Rock, I play hard and work hard.

Owen Clark – who has written posts on Owen Clark.


Comments

  1. fergusonsarah says:

    Very clear formula! Hope this will work as easy as it looks..

  2. hector604 says:

    …more traffic then companies that don’t. …more THAN companies

  3. Charlotte74 says:

    ROI is definitely one of the most overlooked online metrics. And considering it can be what makes or breaks you that is just crazy.

    1. ByzhubOwen says:

      @Charlotte74 ROI in online terms also stands for Return on Influence. Why is ROI so widely talked about when it comes to Online but rarely ever talked about in traditional advertising where it’s almost impossible to track?