Exploring The Benefits Of Focusing On ROI

So what exactly is ROI?

Return on investment is basically what it sounds like. The three letter acronym is simply a short form way of asking the question “What did I get in return for what I invested my money in?” The obvious way to determine your ROI is to subtract what you have spent from what you have gained. This will provide you with the exact amount of return you have received.

Another way to calculate ROI is to divide your gains by the cost of your investment. This will give you the percentage of your returns. Naturally, a positive number indicates that you have earned money and, as a result, enjoyed a successful return on your investment. Of course, a negative number indicates that you have lost money and that you were unsuccessful in the particular business venture that you engaged in.

What are the advantages to calculating your ROI?

Well, it’s certainly important to know whether or not you are spending money in the right places. Obviously, losing money is part of no sound business strategy. If you find that you are losing money in particular areas of investment, calculating your ROI will help you to cease such ventures. On the flip side, if your strategies are proving lucrative, you’ll know to invest further in those avenues.

Marketing, for example, is one of the top methods that businesses use to grow themselves. The objective, of course, is to get the word out about your brand, product or service in hopes to have a direct impact on the buying public. When you launch a campaign, the hope is that it will generate greater interest in your company and that more customers will come your way. A good marketing strategy is one that earns a company more money than it spent on advertising.

In what others ways you can determine ROI?

Naturally, companies spend money in a variety of ways in order to boost revenue. Buying new equipment, ordering new inventory, hiring new employees and adding new departments are among them. In some cases, it can be harder to calculate ROI because of the difficulty in determining exact economic results of your move. For example, some new equipment may not directly generate new sales, but they give you the ability to run better your business.

New inventory, on the other hand, is easier to calculate. It goes without saying that you sell your products are marked-up prices so that you can easily determine your profits. However, you must take into consideration such things as shipping costs and even your advertising budget to determine if ordering and selling the new products are making your business any money.

At SIClytics, we know that calculating your ROI can make your business more successful in a short period of time. As a result, we offer Call Tracking services that specify which of your advertising methods generate the most phone calls to your business. By pinpointing which of your marketing strategies encourage the most calls to your company, you will much better understand which advertising methods are the most profitable. This helps you to better manage your overall advertising budgets, greatly improving your ROI!

For more information about our Call Tracking services, please don’t hesitate to call us at 1-877-374-6003 or email us at sales@SIClytics.com.

3 Ways To Market Your Small Business Online During The Holidays

depositphotos_34097593_m-2015Can you believe that the holiday shopping season is nearly here? Although we’re not yet halfway through October, it’s the right time to begin thinking about the ways in which you wish to market your small business for the impending holidays. Needless to say, business is about to pick up. However, it’s important to not assume that, simply because more Canadians will be out shopping over the next couple of months, you’ll automatically boost your sales.

You’ll have to ramp up your efforts to get shoppers to come specifically to your business for their holiday shopping needs. In 2016 (almost 2017!), it should be a no-brainer to consider using online methods of marketing for your small business. With the internet being so widely used on a daily basis by so many Canadians, it only makes sense for your small business to strengthen its online presence this holiday season.

What are the best ways to market your small business online during the holidays? Here are three ideas:

1. Create a holiday-themed YouTube video. It’s no secret that people use social media each and every day. YouTube just so happens to be one of the most popular social media platforms out there. Not only can your video help to advertise your new holiday sales, promotions, discounts and in-store events, but it can help to drive traffic to both your website and physical store for many months to come!

This is because YouTube videos have the potential of going viral. The more innovative you make your video, the better the chances are that people will share it on their own social media platforms. Be sure to post your video on your Facebook and Twitter pages among your other profiles and don’t forget to show viewers how fun, original, approachable and inviting your brand is.

2. Include holiday-themed words in your website’s content. Blogs just like this one can help quite a lot with getting people to land on your website when Googling for places to shop during the holidays. And that’s because of all of the extra holiday-themed terms that will appear on your website. It’s all about the magic of content marketing, communicates Adam Binder on CreativeClickMedia.com.

He recommends that you adjust your SEO strategy to include holiday search terms such as “holiday sale” and “free shipping” among many others. “Make adjustments in your blog posts and content, on page SEO and backlinks,” he writes, “Pay attention to what keywords currently drive the most traffic to your website, and nurture holiday version of those. In addition, the holidays are a great way to branch out in regards to your web traffic audience.”

3. Begin a holiday email campaign. Reach out to your current customers by letting them know how much you appreciate their business. Of course, a warm holiday greeting will be a great reason to send an email in the coming weeks as well. Be sure to highlight your best products and services and offer up reasons why coming to your business is the right choice. Keep in mind that your previous customers are the most likely to support your brand again.

It’s wise to offer them special discounts and bonuses to show how much you appreciate their support. You may even want to incentivize them to bring family members and friends to your store by offering significant benefits for their referrals. That way, you’ll foster a larger number of shoppers during the holiday shopping season that you know will have been recommended by others who already have good impressions of your business.

At SIClytics, we know how important it is to pinpoint which of your online marketing strategies are encouraging the most phone calls to your business. By understanding which advertising methods are the most successful, you can better manage your overall advertising budget for years to come. Our Call Tracking services are able to specify which of your advertising methods generate the most phone calls to your business!

For more information, please don’t hesitate to call us at 1-877-374-6003 or email us at sales@SIClytics.com.