Calculating a return on investment (ROI) for some businesses is much easier than others. For instance, if a retail store has onsite ecommerce set up to track revenue then you can apply a simple calculation to derive at your ROI. You'd take the revenue gained over the cost spent for your marketing effort as your ROI calculation. Having access to true monetary revenue makes it pretty straightforward for marketers to understand their campaign ROI performance. But what about those marketers that are not tracking ecommerce or a monetary value that enables them to track ROI? How can they measure ROI with metrics outside of dollars to convey the story of return for their campaign?
Marketing ROI that is not tied to monetary values can be a bit tougher to quantify — and in some cases much more subjective. You must lean on other telling metrics such as lift, engagement and conversions to prove to the client what our marketing efforts are doing for them. Moreover, marketers need to partner with a trusted and experienced digital team to help them understand what metrics matter for ROI.