If you’ve heard of any hot topic in the digital marketing world recently, it’s search engine optimization (SEO). It’s a growing trend, but 57% of businesses still don’t use it in their marketing strategies!
Well, if you remain skeptical, there are ways to test how well it works, and you can do it all yourself. Let’s discuss some tips on measuring your campaign ROI for SEO campaigns!
Why Calculating ROI Matters
It’s important to track your ROI for any marketing effort, but SEO is a long-term marketing strategy. If you aren’t tracking your ROI, it’s easy for spending to get out of hand as you try to build up your strategy. Also, you will want to know when the strategy is paying off and offering a profit, as it may be time to develop a new strategy.
ROI is arguably the most important metric of your SEO campaign. Not only will it tell you how your SEO efforts impact your bottom line, but it will also tell you when you need to spend more, spend less, or make adjustments to your campaign.
1. Account For All Expenses
Tools, in-house personnel, professional SEO services (who may provide the ROI for you), and all other SEO campaign elements need to be accounted for. This includes wages, packages, and more. If you paid for keyword research tools, analytics tools, or any other SEO-related platform, account for this.
Of course, your CMS tool won’t count unless you purchased a plan specifically for creating an SEO campaign. Only account for expenses that you wouldn’t have made without your SEO strategy.
2. Track Conversions
Using Google Analytics or your other favorite analytics tools, you can easily track who comes into your website, how they get there, and how they behave. Conversion tracking is a great way to track your progress on your SEO campaign, so use these tools as soon as possible.
As these conversions come, add up the grand total for revenue and subtract your expenses for your first rough estimate. However, that’s not all.
3. Account for Passive Revenue
Even if your SEO doesn’t directly drive conversions, it may still help increase your revenue. Building brand awareness, signing up for newsletters, or finding your social media accounts are common ways that SEO can passively boost your revenue over time. Also, optimizing your website for search engines will help improve conversion rates on other platforms!
While this is difficult to account for, you can start by looking at your social media marketing, email, and other metrics before and after your SEO strategy. Try to determine how much you can attribute to your SEO efforts. This won’t be perfect, but it can help you understand your total revenue increases.
Now that you know how to track your SEO campaign ROI, use these tips to perfect your strategy over time. It could make this process a lot more cost-effective and lucrative!
Stay up to date with our latest digital marketing tips, and don’t hesitate to contact us with any questions or for help with your strategy!