ROI – Return on Investments has been one of the most heard words in the digital marketing industry worldwide. Not just agencies, but clients and marketers now also demand RoI success on each campaign done. On one end, the concept has surely lent a go-to parameter for marketing success, but there are some cons to it as well.
Usually, when we describe ROI to CEOs or CMOs in the UAE, we just say that ‘for dirham we spent on media, we made X dirhams in sales.’ This concept was fairly simple. But not anymore. Like we cannot standardise the brands and their communication strategy, same ways we cannot standardise the concept of ROI for brands in the UAE.
There is a net of multiple channels (Video, Blogs, Social Media, Paid Content, Media Outreach, PR) which are employed to make a digital marketing campaign a successful venture. But what defines this success? Can this all be compressed in the form of ROI? This is the question many digital agencies face these days.
A pragmatic way is to acknowledge that ROI is not just the only parameter for digital success. Other factors like how we measure ‘VALUE’ in the digital approach are equally considered important.
It’s the balance between Qualitative and Quantitative performance that marketers must ascertain. In the hunt for actual increased conversions, don’t miss out the ‘value-oriented’ approach while analyzing a campaign’s performance.
As a trusted digital agency in the UAE, we aim to create awareness about the ‘value’ of marketing campaigns. This surely includes Digital Conversions, but also takes audience response into consideration.
If audience registers recall value for a product and uses social media to share their positive responses, then this is a ‘Value’ we’ve earned on digital campaigns.
– While ROI is still an important parameter, CMOs and CEOs should also try to ensure the campaign also creates ‘value’ for the customer. This could be a Win-Win situation for both brands and consumers. Agree? Or need more insights on this. Our team of digital experts is always there to help you get the most of digital brand campaigns.