In the 1992 presidential campaign, Bill Clinton used the phrase “The economy, stupid” as part of the effort to unseat sitting president George H. W. Bush – which as you may know was actually successful. The phrase became iconic in the format, “It’s the economy, stupid.” The point about the phrase is that it’s very easy to get distracted discussing many other issues, but if the economy ain’t working, then don’t expect to get keep you place in government.
The same is true in online marketing. The economy IS the ROI – although that does warrant a little explanation which we’ll do right now. ROI stands for “Return On Investment” and different people have different formulas and definitions for how to calculate ROI. On top of that, others use metrics which are also about ROI but are called something else.
For our purposes now, we’re defining ROI as the key performance measurement you use to determine whether your business is finanically successful online or not. In other words, is your volume of sales sufficient to generate profit over your overheads – not just did the orders going through our online cart pay for the media spend which is after all only a tiny(sic) part of our costs?
So what’s the ROI on your content? What do you mean you don’t know? There is absolutely no point in investing in website development and publishing if it doesn’t make you are return or an ROI in your language, now is there? And whilst we’re talking about “language” do you measure the ROI on your localisation efforts? You should.
The value of content is in bringing valuable “traffic” not just loads of visits relevant or not. I’m sure you’ve heard that before and get the picture. And everything should be measured against the goal including the cost of graphic design, the time costs or your agency, media and translations costs. Only then do you have the relevant ROI. So you see, one man’s ROI is another’s donkey.
So go on then, tell us what Webcertain does to generate ROI on content?
There you go, we don’t make things any more complicated than they need to be!