"What is the opportunity cost of running this campaign?" These words ring in my ears every time I even think of suggesting a new marketing initiative. I suppose because it is the very cornerstone of the 90's business model and many of those in charge have not made the mental leap to the digital age. However nowadays digital strategy has a powerful answer to this question & it comes in the form of full e-commerce tracking.
If you are running a PPC, SEO, E-mail or Social media marketing campaign, then full e-commerce tracking is for you! Run through Google Analytics (free program), the tracking data can capture exactly where each and every sale came from and allocate exact dollars amounts to each sales channel.
Josh Strawczynski's Opinion:
Armed with this sort of evidence, it is simple for marketers to test their projects with a negligible amount of company money and come back with fully quantitative results for the CEO. Some of my best PPC campaigns have proven themselves even more valuable then the owner knew, in one instance, the campaign was making around $50,000 per month more than they were attributing to my work.
Be careful, it is extremely difficult to set up, but well worth the toil and time!
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