Tips for Effective ROI Calculation
Ø Distribute ROI Responsibility: In every company buying cycle is like this:
So, we cannot say that a seo specialist will handle the responsibility of generating brand awareness solely about your product. There are more members in any company who have to handle are responsible for creating brand awareness in customers for ensuring ROI. Solutions specialist, sales people and customer support are the members who are also responsible for putting their efforts in equal ratio.
Ø Separate brand specific keywords: If your company is brand and users know your company name then they will search you easily by your company name, so it is compulsory to exclude brand specific keywords from your study before measuring the results of your SEO efforts.
So it is better to separate branded and non-branded keywords if you want to calculate or determine your actual success of seo.
Ø Setup business goals: Every company has its own different business goals due to its different nature of business. For example: A technology company setup the goal of demo signup, registration or subscriptions whereas for an e-commerce company, the goal could be to sell more products or product purchase. So, clearly define the conversion goals you want to achieve through organic traffic. You can setup goals through Google analytics.
Ø Determine customer conversion rate: Each and every business runs and doing hard work whole year with a common motive and that is to track conversion rate and determine customer conversion rate is the most difficult and important for any business. An SEO marketer should discuss with his team that how many leads they will generate by per person and in how much time they will take for this.
For Example: Just imagine a seo person is able to generate 10 leads by his seo and if 1out of 10 each leads changes in to customers then the conversion rate is 10%. And the average price of product is Rs.500 then each lead can be assigned Rs.50 value in Google Analytics. So, with 10% conversion rate you are still making overall Rs.500 if 1 converts form 10 leads.
Ø Enable e-commerce tracking system: In this you can easily track it through with the help of Google Analytics. For this, you have to go on Google Analytics Dashboard > Conversions > E-commerce. Then you should just fill the compulsory fields for a product item and Transaction data and finally create average reports for measurement of Product performance, Sales performance, Transactions and Time to Purchase.
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