Accurate attribution is key, and over time you can refine your reporting. Set up an analytics dashboard to determine the ROI for each channel. Consider what you already spend each month, quarter, and year, and segment that budget by your different marketing initiatives. While your marketing strategy and budget are both works in progress, they need to work together, and your marketing efforts will see better ROI when that’s the case. If your marketing strategy centers on the oldest segments of the population, but your marketing efforts are largely reaching millennials or Generation Z, there’s a disconnect.
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