Spending on a business often starts with many difficult decisions, you’ve got to feel comfortable with who and what you’re spending it on, and whether it’s going to turn in enough income to ever be worth it. Trying to predict an ROI is hard enough, but in a market that’s still quite new, you’ll find a large number of those in the market right now rushing right in without any planning.
How to find out my ROI from Mobile Marketing
Because of the mobile market space race, it’s not surprising to hear that 68% of mobile marketers don’t know their own ROI or have under-achieved their goals. This makes it hard to take a grasp of an ROI from mobile marketing, possibly due to the companies that use mobile marketing not having enough tools to keep track of their investments and gains, or perhaps companies have been too lazy to take note of them.
Either way, the position you’re in now may make you feel as if you’re on the top of a big wave. But the truth is, only a third of companies know their ROI of email marketing, and that has been going on for a few years.
If mobile marketing is to follow in its digital brother’s footsteps then the ROI of mobile marketing is going to be a tricky one to calculate or observe unless you’ve got enough money to spend on trial and error.
So, if you’re a small business and want to look into mobile marketing, where can you start to make sure you’re improving your mobile ROI, and not decreasing it?
Despite the lack of knowledge, mobile marketing is a very abundant market, and it can bring in new customers, or keep your old customers in the loop.
A lot of professional and big businesses have started to use mobile marketing to increase their customer’s experience, and from a total of 16 different case studies, at least a 10% increase in ROI had been seen in the weeks that the marketing was used.
Despite this information, only 21% of mobile marketers in a study have seen a positive increase in ROI.
As you can see, mobile marketing is a slippery slope, so the best advice for a small business would be to go for a mobile marketing campaign that costs little over their current marketing methods and watch the results carefully. It takes a lot of dedication to finding the sweet spot for your business but once found, you’ll see the difference with your bare eyes.
If you’re interested in mobile marketing, make sure to have a read through our other articles.