Any kind of marketing that you do for your company costs money, which means it is an investment that you want to measure. SEO ROI is one of the easiest marketing investments to measure if you have the knowledge to ensure you’re doing it correctly. MyCity Social in Orlando provides the SEO services Orlando business owner’s trust the most and can help teach you how to handle the return on investment for your marketing strategies and teach you how to identify whether or not your techniques are effective. Once you understand how to do this, it will become easier for you as a business owner to determine which investments are working and which ones are not.
How to Track and Measure SEO ROI
There are a number of different analytics tools that you can use to find out the success of your search engine optimization. With resources like Google Analytics, you are able to examine diverse data to monitor your traffic, referral sources, and conversions. However, if you want to truly be able to determine the success of your marketing campaigns and search engine optimization, you need to be paying particularly close attention to your return on investment, which is also known as ROI. Calculating your company’s return on investment allows you to see which marketing plans and campaigns are generating the most money for you. Having this information will enable you to focus all of your energy and attention on to the high-performing marketing strategies that are working the best, which will also help you save money from your marketing budget. The analytics that you’ll get from the online tools will give you all the information you need to make these calculations and decisions. Below you’ll find some insight into how Google Analytics, in particular, can help you measure the ROI of your company’s SEO campaigns.
The first thing you need to do in order to determine your return on investment is to set up conversion tracking in Google Analytics. What this does is it will allow you to keep track of all of the conversions on your site that earn your organization money — the setup changes depending on whether or not you make sales directly on your website. For example, e-commerce stores can use tracking to pull data from their online transactions to measure their online revenue. This gives business owners extremely accurate data for online returns. On the other hand, businesses that provide services can set up conversion goals and assign a dollar value to them to track and obtain customer data. After you’ve set up your e-commerce tracking, you can analyze the data on your site and look at the e-commerce overview report that will show all the information that is relevant to your online sales. This e-commerce overview report will help you measure your website’s overall success as well as monitor your company’s performance. Even if you aren’t planning of tracking your return on investment right away, professionals still recommend setting up e-commerce tracking sooner rather than later. The earlier you start collecting this information, the more you’ll have to analyze and investigate to determine what is costing your company the most money and what is making your company the most money if you are a lead generating business that doesn’t make sales directly on your site then it can be a little more difficult to get detailed information on the amount of revenue you are earning. The best way to get this information is to assign dollar values to each of your services based on the data you have from past sales and services you provided. In Google Analytics, you have the ability to assign a value to a wide range of goals, including contact forms being filled out, quote request, or even phone calls. It’s essential to note that the values you assign will not be precise, however, if you are pulling your estimates from past data that you can find a reasonably accurate estimate. Some of the things you should consider are how many leads are turned into sales, what the average value of a sale is for your company, and figure out the value of each lead you receive.
Once you have analyzed and collect conversion data for about a month, there should be plenty of information to measure your return on investment from the search engine optimization campaigns. The fastest and easiest way to do this is by looking at your conversions report. You can evaluate this report by a specific time frame only or by the entire time you’ve been collecting analytics. The report will also be broken down into different channels depending on how the marketing campaign was delivered to your customers. Some of the channels include direct, paid search, organic search, email, display, referral, social network, and a few others. The organic search section consists of any users who found your website through a search engine, which means the results in that channel can be added to the results from your SEO strategy. After you have figured out the amount of revenue your search engine optimization plan made during a certain time period, experts say it’s best to do it monthly or quarterly, you can compare it to the amount that you have invested into your SEO strategy. If your company has been comparing your ROI for other marketing strategies, then you can use the same formula to evaluate the results from your search engine optimization efforts. However, if you don’t have an existing formula to use, there is a basic one to you. You subtract the cost of investment from the gain from investment and divide it by the cost of investment. Once you have that number, you will multiply it by 100 to get your return on investment in a percentage.
There are other reports in Google Analytics that you can use to help you calculate your return on investment. Using them in conjunction with your initial results can help provide a bigger picture of how your strategy is working.
- Assisting Interactions Analysis: Typically, customers will visit your site more than one time before converting. It doesn’t matter if the conversion is a purchase, a submission form, or another type of conversion it will take multiple visits for it to happen. Depending on the conversion model you utilize, you may end up with a skewed result of where the client came from. What this means is that if you’re only paying attention to the last interactions you’d think that the conversion came from direct traffic although this isn’t entirely wrong it leaves out the fact that there was a first visit from an organic search, which means that the sale probably would not have happened without search engine optimization. Although the organic search didn’t exactly cause the conversion, it did help in it, and the Assisting Interaction Analysis report will give you a look at these events and add value to the channels that indirectly lead to a conversion.
- Top Conversion Path: This report is similar to the Assisting Interactions Analysis report because it will help you consider all of the steps that happened to get the conversion. However, the major difference is instead of the report displaying every channel’s contributions it will show you the most common paths that your users take before converting. Most of the time, you will find that the first step is for users to find your site through Organic Search results, and then later, they come back to the website directly before converting. This report is essential to look at and evaluate because it gives you an inside look at how your customers interact with your site as well as the channels they use to get to it before they make a purchase or become a lead for your business. You must understand the actions of your customers so you can create your campaigns around the way they think.
Implementing a well-structured SEO strategy and campaign can increase your company’s return on investment, but it is vital that you understand how to draw traffic and attention to your website before you’re going to see any type of incline with your ROI.
- Increasing non-branded traffic: When there is an uprise of traffic to your company’s site that is usually a good sign that your company is ranking well in keyword searches. However, it is vital that you aren’t only getting more traffic from potential customers searching for you by your company or brand name you want to make sure that there is more traffic because you are being found through non-branded keyword searches. In Google Analytics, you’re able to identify the traffic that came to your site by users searching non-branded keywords in the Acquisition section. Looking at this information will allow you to have a better idea of which keywords are working and which ones aren’t. The reason it is so important to look into this information is that when a potential lead finds your business through non-branded keywords that means they are a new visitor who is unfamiliar with your business and company, which is critical to expanding your brand and gaining new customers. Although branded organic traffic is important too, those visitors are people who are already aware of your company and are probably existing customers.
- Increased inbound links: When another company or brand links your website to their page, it is a way of them vouching for you and giving potential customers confidence in your brand. This is also a critical component of Google figuring out if you are an expert in your industry. Creating relationships with other companies in an effort to increase the variety and amount of inbound links to your website is an extremely effective way to boost traffic and increase your organization’s visibility in search results. If you analyze this information over a three month, six month, and twelve month period, you will get a good understanding and picture of which content helped draw the most links and attention to your site, which will help you plan future content and campaigns. You must look at the infographics, blog posts, product pages, and videos drove the most quality traffic.
- High-quality traffic: Getting a lot of traffic to your website is excellent, but if the traffic is unqualified, than it is useless to your mission. Of course, getting an increase in traffic is essential to growing your company and its recognition, but the traffic that visits has to be relevant to what your company is offering because if it’s not the visitors are going to leave as quickly as they came. Unfortunately, when there isn’t an expert around to help implement search engine optimization strategies, this tends to happen, so it is essential that you take the time to analyze your traffic and the strategies that drove people there.
Contact Us for SEO Services Orlando!
MyCity Social has gained recognition throughout the Orlando area as providing digital marketing businesses can trust. We pride ourselves on having extensive knowledge in the internet marketing field, which has made our clients come to us again and again for advice on how to increase SEO ROI. We make it our top priority to help businesses reach their full marketing potential through unique and strategic tactics. Call or visit us today to find out how we can help you!