How to track digital marketing Return On Investment?

Today we're going to discuss how to track a return on investment from digital marketing for your local service business. So this is a big area of opportunity in the digital marketing space and a lot of times it's just cookie cutter, hey, we're going to do this, we're going to do that. There's not really any return on investment tracking or results. It's kind of just fluff, hey, we're going to do this, we're going to do that. So what we do at our company is we want to be an asset, not another liability. So we actually send out a return on investment. We report twice a month and this is how we do it. So here's a company that we work with, Atlantic Duct Cleaning. If you see they have two different call to actions. They have an estimate and they have a schedule. Now they have a call button, they have a chat button. But let's just look at leads generated, just simple calls or estimate requests from their website only. That's just one way to track an roi. So someone comes to their website and they click on receive an estimate and they fill this out. This is a lead that gets sent to them. They can call and do whatever they want with it. Someone clicks this button and calls them for whatever reason. So let's just take a look at how we're going to track a return on investment for these things. So we use Google Analytics and what Google Analytics allows us to do is to set up a goal. So let's go down here and I'll show you how this works. Okay, so we can see that anytime someone clicks on receive an estimate and submits this form to get an estimate, a goal is tallied in Google Analytics. So so far this month they've had 219 goals completed for estimate calculator. They've also had 112 mobile calls completed with this company. Most of the calls are going to be for estimates they don't have like project based things where people are calling multiple times from a mobile device. So maybe we calcul calculate 70% of those calls are leads or whatever the number is that we decide with the client. So we know that for a fact that we generated 219 estimate forms so far this month. So what we can do is say hey client, if we give you 219 leads, what is your closing percentage? Let's say it's 15%. Okay, so you closed 105 of these so far and your average transaction value is $500. So if you close 105 of these leads at $500. Then you generated X amount of dollars. So it pays for itself and we see that it's working whatever we're doing. So we can look at this on a month over month basis, year over year basis, quarter over quarter basis, year to date, whatever we want to make the qualifier, we can track our progress to see are we working or not. One really good conversion number to look at is out of the number of people that came to your website. So so far in the last seven days they had a thousand people. But let's say they had 4,000 people to their website. What is the goal conversion rate? So our goal conversion rate is 10% of the people that come to your website to turn into leads. So they're right at about close to 10%. We're not calculating any chats that come through or anything. We're just looking at the calculator forms or mobile calls for this scenario. The next question that usually happens is, well, we have a lot of returning customers that come back to us. So what we do is we actually track from a returning perspective over here in audience, we can look at new versus returning customers. So new verse returning people to your website. And this looks at the cookies that's stored on their computer. So if you see this company, Atlantic duckling This, they had 3,000 new visitors and 477 returning visitors to their website over this time period. And 290 of these are from new visitors and 56 are from returning visitors. So this is looking at over the months, what is your goal completion? So let's say that we just wanted to see the forms that came through. Let's look at actually estimate calculator form since we're just looking at that. So we can see that the estimator calculator forms new visitors. They just came to the website and filled it out 185 and their conversion rate is 6% for just new visitors. Straight to the site. Boom. So this is a really great way for us to show transparency. Are we generating leads? Are we not? Are they new customers, returning visitors, where are they coming from? And it allows us to be transparent with the leads that we're generating for our clients. The next step that we take is not just looking at Google Analytics, but we actually get into the client's CRM, their client relationship manager, whether that's service monster or service titan or whatever, Jobber House Call Pro. So we like to go in and say, okay, well this lead came from Google or came from a web form and how did they hear about us? We'll put that on the qualifier list of where the source came from, whether it's Google or Yelp or Facebook. And then we get into their CRM and to see, okay, what, what actually transpired from these different channels. Was it Facebook, was it Google and how much money did we generate and is it working? So that's taking it a step further in this situation. We're just going to look at Google Analytics, a simple setting up goals and tracking and is it working? Is it not working? So if you're interested in more learning more about this content. We grow local service businesses. We partner with local service businesses to help them grow. We be sure to like and subscribe to this video. We put out content on a weekly basis to help you grow your business. If you have a question about this or maybe a comment, be sure to comment below. We respond to all the comments and we're curious to get your thoughts. I'll see you all in the next video.