The Importance of Tracking Marketing Dollars

In today’s blitz of modern media, it’s now more important than ever to track your marketing dollars. No matter what your profession is, you can benefit from an advanced statistical analysis of your marketing. Whether you are using special software or not, it is possible to increase your ROI by keeping good books. There are tons of marketers out there who are wasting money by dumping unseen content on social media. To be a truly effective marketer you need to target your audience and build a personal relationship with them. Business marketing is about the clientele first and foremost. By giving your customers special attention you will be able to engage with your audience more effectively.

Entrepreneurs of all walks can benefit from a specialized tracking of marketing dollars. This lets you know how effective your campaigns have been at reaching your customer base. A campaign that returns an exceedingly high ROI, is one that gets the consumer to purchase your product. Oftentimes, lack of tracking can lead to campaigns that lose money for the company. A loss is clearly a waste of resources for you and your company, and can create financial hardships. The most advanced metrics available today can help you and your business succeed.

Social media marketing is an important aspect of an effective consumer strategy

Social media marketing is an important aspect of an effective consumer strategy, but as mentioned above, this tool has to be used effectively in order to get the most out of it. It is too easy to pour money into a social marketing campaign that turns your consumer off. One of the best tools that can measure how effective your marketing dollars are, is the use of phone surveys. Unfortunately, all surveys have shortcomings. While they can provide data for your company, they often provide dubious feedback. This is why you must engage in the real test of if your ads are effective: Asking the consumer if he or she is interested in buying your product. This is the most important test of effective marketing dollars. In order to engage in the modern business world, you should take all the feedback you can get. Asking for a purchase is an instant feedback that will let you know if you are on the right track or not with your marketing dollars. Winning in online marketing is all about tracking at the end of the day. He (or she) who tracks better, wins.

How do you track your marketing dollars. Share your best tips below!

27 Comments
  • PillowMan1234

    Diversification sounds good but isn’t it really a bad thing? It is like a huge mutual fund…. It helps you against downfalls wouldn’t it go against you when you strike good in one area? I think it would be better to focus on one area…. Dollar cost average it. Why is diversification good? is it only good for a non-risky investor?

    July 18, 2013 Reply
  • borabora5524

    Ok, so I understand that buying AIG stock right now is a gamble. I have been searching for answers on whether it is a good idea to buy now or not and there are so many different opinions that I get it…nobody knows. I have a few dollars and I want to take a gamble. Obviously by my questions I am very ignorant in this area and this is the first time I have ever bought a stock. I have always wanted to learn about it and as sad a time as this is, I feel no better way to get my feet wet than by jumping into the pool. Swim or drown. There are a few terms that keep popping up and I was wondering if someone could explain. 1) Why would someone say sell before the OCT 1 short sell deadline? What does that mean? 2) What is the importance of the lack of dividends and the stock price 3) The bailout…even though the bailout is in disagreement, AIG signed a deal, right? So how does the bailout decision effect the AIG stock? 4) What affect would selling off assets have on the stock price? Make it go up or down? 5) Would any FBI indictments have any affect on the price? I mean, it seems like it wouldn’t. These things happened before the crash and government loan and those people have undoubtedly been replaced. Those are all the questions I can think of. Any other opinions about this stock would be greatly appreciated. As I said, I am very new to this and want to learn. I am sure to many of you these questions are simple. If you have negative comments to make about my inexperience, please keep them to yourself. I would appreciate mature, adult advice about this matter.

    July 20, 2013 Reply
  • Miguel M

    I heard lot about Illuminati and these secret societies tryin to take over us and stuff but from what ive heard it’s pretty dumb like Jay z is trying to make us worship the devil and stuff? Can anybody help or tell me what I can watch or read to learn more stuff about it?

    July 22, 2013 Reply
  • mavis24

    I need suggestions for an advanced web design course that will be implemented for a college course. Some examples are divs and CSS layouts, creating a blog, image gallery or simple ecommerce site. This course is targeted for designers in mind, without or little programming experience. Any of your suggestions is very much appreciated.

    July 23, 2013 Reply
  • TommyKay

    What is the best online or in person resource in Austin or Dallas to get crash course in social media marketing? Im talking one or two week crash course to make you an expert!

    July 23, 2013 Reply
  • Ryan Dunn

    Neel…dear….view the site before recommending it next time. It sucks a big one…just like your answer. Tootles… 🙂

    July 24, 2013 Reply
  • Disrae

    I just want to know if other entrepreneurs do this social media marketing to boos their sales.

    July 24, 2013 Reply
  • ademuth93

    I had this argument with a friend and I sorta need other points of vie. I personally do not understand why Steve Jobs is considered such a great revolutionary in terms of his work by introducing ipods and such; in my opinion the world would still continue if there were no ipods and ipads and considering how many people prefer regular laptops to ipads it still makes no sense to me. I am not discrediting him in any way, I just wanna know what were the main reasons for his great fame? It cant possibly be because of the iphone, ipod and ipad coz that would disappoint me

    July 26, 2013 Reply
  • Dark_LovexXx

    I feel so overwhelmed, since it’s so ever-changing.

    I have a library of books, but don’t know where to start.

    – Social Media Marketing
    -SMO/SEO
    -Video
    – Facebook
    – HTML5 & CSS3
    – Email Marketing
    – Blogs
    – Web Design / Graphic

    In three months, how can I conquer the basics?

    And the list goes on?

    July 28, 2013 Reply
  • Armas

    list three strengths and three weaknesses of the Consumer Price Index calculation.

    I have found the weakness with this assignment i need help listing three strengths. Thank you

    July 28, 2013 Reply
  • dubmecrazy3

    Well I want to get into collecting records. But I don’t know where, how many different kinds of record players there are, what brand, the prices, what speakers I should buy, do I need a reciever etc. what stuff should I buy? And what brand? I just want good quality sound, not high class stuff

    August 3, 2013 Reply
  • Kevin

    I started working for a friend who started up a business. She wants me to do all of her social media sites. Does anyone know of any tips or online classes I can take so that I can do a good job? It’s a beauty business…

    August 5, 2013 Reply
  • ericmreitz

    I have an idea for my own business, a recovery and refreshment center. It is a place where people can come and take classes in personal enrichment and intellectual stimulation, there will be a coffee shop, a stage fore performers on friday and saturday night, or for films to be shown, in back there is a chapel, a nap center and a labyrinthe. perhaps maybe I could rent out offices for counselors. There would either be a membership fee or a drop in fee. do you think it’s a feasible plan?

    August 5, 2013 Reply
  • alberto s

    I would like to start using social media to market my nursery/kindergarten in the UK. I was thinking of using Twitter, Facebook, and LinkedIn…would all of these be useful for my type of business?

    Also, how would I best utilise these tools to get the full benefits of social media marketing?

    August 7, 2013 Reply
  • MAK & CHEESE

    I am not a creative person who can design something or plan strategies.If I plan to go for social media marketing profile, will I have problems in it?Is SEO knowledge required in this field?

    August 7, 2013 Reply
  • Nick

    I have recently started studying Social media marketing. I am wondering if it is different from adwords or similar strategies. I want a comprehensive guideline or product. Any contribution will be appreciated.

    August 9, 2013 Reply
  • thinkthought

    How can a business such as McDonald’s make use of Web 2.0 and social media to improve their market image and sales? To help you, use:
    http://www.slideshare.net/jfrobinson/social-media-marketing-overview-and-case-studies

    August 10, 2013 Reply
  • Heath

    I’m looking to open up a new account as I still have the same one I’ve had since aged 16 (i’m 21 now). I would like to know what I should be looking for when searching for an account. To me a bank is just where I keep my money and I do not have enough in it – never mind the low interest rates prevailing at the moment – to earn noticeable interest anyway so can’t understand what I should be looking for. The reason I ask is that my current bank doesn’t allow me to deposit money over the counter, only via a machine, and the guy in the bank said there’s better accounts than the one I currently have and I should consider changing.

    I’m a student so was also considering a student account; is it worth it? I don’t want know overdraft.

    August 14, 2013 Reply
  • morbiusdog

    Hi there. I have currently been employed by a company which solely concentrates on Web Development, Marketing and Design. We concentrate on everything from building Websites making them SEO friendly, Social Media, Email Marketing, SEO/SEM etc etc. We are still going over the payments for my services but I would really appreciate any suggestions or advice – I am NOT getting paid a Salary. I have been told by others that for any website building I should get 40% since I am the one going out, finding the client and setting up the meeting to close the deal – I’ve also been told to charge the same percentage for other services since I’m also doing marketing services for the company. Thank you all for your time and a very sincere thank you in advance.

    August 16, 2013 Reply
  • Bryan J

    Is it fair to do social media marketing for NGOs?

    August 16, 2013 Reply
  • homerliveshere

    I know..weird question..but reading the current events some of you all are talking about got me thinking..

    I spend so much time in class and studying the books I’m required to read that I don’t have time for other things. I haven’t watched the weather in months probably. I don’t know what’s going on around me, outside my sheltered “college world”. It makes me feel dumb or that I can’t keep up.

    If you were to ask me about glycolysis metabolism right now I could engage you in a very interesting conversation, but ask me…I don’t know….something in the news, I couldn’t tell you, because I haven’t watched it or had time to watch it in weeks or even months.

    Is that bad? I just feel so stupid sometimes. 🙁
    Lucas…yes, I’m in my 3rd year of university right now. One year left to go.
    glycolysis…the breakdown of polysaccharide sugars into simpler sugars to generate ATP to be used as a source of energy..yeah 🙂

    August 23, 2013 Reply
  • stealspartansbcglobalnet

    My friend just offered me a job on social media marketing, I don’t know too much about it but I could definitely use a second job to get more money. I was told that I could have a 8-9 (1 hour) job which is very puzzling so someone fill me in on it.

    August 26, 2013 Reply
  • Muzahid

    Hi there. I have currently been employed by a company which solely concentrates on Web Development, Marketing and Design. We concentrate on everything from building Websites making them SEO friendly, Social Media, Email Marketing, SEO/SEM etc etc. We are still going over the payments for my services but I would really appreciate any suggestions or advice – I am NOT getting paid a Salary. I have been told by others that for any website building I should get 40% since I am the one going out, finding the client and setting up the meeting to close the deal – I’ve also been told to charge the same percentage for other services since I’m also doing marketing services for the company. Thank you all for your time and a very sincere thank you in advance.

    August 30, 2013 Reply
  • Anny

    I want to promote my business through social media marketing.

    September 2, 2013 Reply
  • Random

    i have done BE in electronics and communications and then MBA in marketing and HR. does the job of social media marketing suit my qualification well? i want to know the scope of social media marketing in india and abroad -eg- gulf. howz the money and how much can i grow in this field? please clarify on the growth oppportunities.

    thanks.

    September 2, 2013 Reply

Leave a Comment