5 Great Ways To Maximize Your Return On Investment

Man fingers setting profit button on highest position. Concept image for illustration of profitability or return on investment

You don’t have to be the world’s greatest mathematician in order to be a business owner. However, it is of vital importance that you understand one mathematical principle: to be profitable, you must earn more money than you spend. And while everyone surely understands this, it isn’t always something that entrepreneurs are able to successfully pull off. And that’s because their money is often being spent in the wrong places!

It’s important to think your advertising budget through. You not only want to be clear about how much money you can devote to your marketing strategies, but you also want to set out a plan to earn a certain amount of money in return by launching said strategies. That way, you can continuously ensure that you’re always getting the most for your advertising dollars. So what are the best ways to maximize your return on investment?

Here are five great ideas:

1. Research advertising successes and failures in your industry. Do you due diligence and look into what has worked and what has failed for your competitors. At the same time, revisit some of the marketing strategies you’ve had in the past and attempt to recall which ones turned the greatest profits. A lot of trial and error is generally necessary in the advertising game, but you’ll want to avoid as much error as possible by acknowledging history.

2. Attend workshops and seminars to meet other industry professionals. It certainly doesn’t hurt to mix, mingle and network with like-minded industry counterparts who may also have quite a bit of experience with advertising their own companies. Not only can you learn from their experiences, but you can also develop new relationships that may help to grow the reach of your advertising efforts. Scratching certain backs can help to get yours scratched in return.

3. Select the advertising strategies most likely to attract interest from your customer base. What may seem like an obvious tip is one that should only be heeded after our first few ideas are considered. Of course, you’ll want to speak directly to the needs and concerns of your target audience, but how will you know what they are until you’ve looked into it? Television commercials, billboards, print ads, radio spots – which will work best for your brand?

4. Make strong and regular use of your social media accounts. Using the internet to advertise is a no-brainer. But utilizing your Facebook and Twitter pages, among other platforms, is practically a must in today’s business world. Firstly, it’s completely free to create Facebook posts and tweet to your heart’s content. Secondly, social media are used so regularly, it’s bound to help spread the word about the advertising campaigns you’re actually spending your money on.

5. Invest in call tracking. If you want a precise and accurate understanding of what your true returns on investment are, you’ll track your calls. At SIClytics, we provide services that measure the incoming and outgoing calls made using your telecom account. Our system helps you to determine which advertising sources are generating the most leads. That way, you can invest more into the strategies that work and less into the ones that don’t!

If call tracking is a new concept to you, don’t worry, you’re certainly not alone. We would be more than happy to provide you with more details about our advanced tracking system in order to get you on your way to spending your advertising budgets a lot more wisely. Please don’t hesitate to give us a call. For more information, dial us up at 1-877-374-6003.

The Importance Of Call Tracking For Your Business

Depositphotos_26499863_m-2015Advertising is important. But knowing exactly which advertising avenues are the most effective is what is most important to any business. How do you know without trying different methods? Is it more advantageous to invest in online marketing campaigns or run a (likely to be very costly) commercial on television? Is it wise to throw up a huge billboard in your city or print boxes of flyers to hand out to members of your community?

Needless to say, there are countless ways to promote your brand but some are simply going to work better than others. This is where call tracking comes in. It has practically become an integral element in today’s business world and is arguably the best way for business owners to get good senses of the returns on their investments. When phone calls come into your business, it truly pays to know what prompted the calls in the first place.

So how does call tracking work exactly? To put it plainly, call tracking records the number of phone calls that come into your business and determines where they come from. It helps to establish which of your ad campaigns are leading to the most phone calls and the percentages of your advertising dollars that are resulting in those calls. Call tracking is the answer to the question “What return on investment am I getting from my marketing efforts?”

Why is call tracking so vital in today’s business world? Call tracking is an excellent marketing tool because it helps to pinpoint what marketing strategies are actually working for you and which ones are not. That way, you’ll end up spending your marketing budgets a lot more wisely. And your marketing efforts will be a lot more effective as well. With the statistics given to you by your call tracking efforts, you will significantly increase your ROI.

Consider how much more of a winning strategy you can develop if you know that your mail outs are resulting in 40% more call backs than that billboard you invested in. In all likelihood, you’ll be compelled to transfer the advertising dollars you were spending on the billboard to more mail outs. With the statistics you’ve discovered via call tracking, you will enjoy a higher success rate with your advertising efforts.

Obviously, the alternative is a lot worse. Without call tracking, you’re left guessing. You’re susceptible to thinking “Well, maybe all of those calls coming in are because of that billboard we put up”. If you follow this line of thinking, you’re liable to continue spending money on keeping up with an advertising strategy that is not producing the results you think it is. This is not to say that billboards don’t work, by the way. It’s simply to highlight the fact that call tracking is what will help you to know for sure!

How can SIClytics help you? Our call tracking efforts are designed to measure the incoming and outgoing calls that are made using your telecom account with approved SIP vendors. As part of our services, we offer Call Reports & Analytics which include in-depth graphs, charting and reports of your incoming calls. We also offer Telemarketing Reporting which reports on the results of your telemarketing team.

For more information on how SIClytics can track your calls and offer you a greater return on investment for your marketing efforts, please don’t hesitate to contact us at 1-877-374-6003. If you’re not completely satisfied with our services, you have the option of cancelling them within 30 days to take advantage of our 30-day money back guarantee! Give us a call today. We look forward to helping you get the most out of the calls that come your way.