Podcast
Questions and Answers
What is the formula to determine the revenue per lead?
What is the formula to determine the revenue per lead?
- $Sale hinspace value \times Leads hinspace required$
- $Sale hinspace value - Leads hinspace required$
- $\frac{Sale hinspace value}{Leads hinspace required}$ (correct)
- $\frac{Leads hinspace required}{Sale hinspace value}$
How is the ROI calculated when a sale is worth $150 and it takes 15 leads to generate one sale?
How is the ROI calculated when a sale is worth $150 and it takes 15 leads to generate one sale?
- $150 - 15$
- $\frac{150}{15}$ (correct)
- $150 \times 15$
- $\frac{15}{150}$
What are micro conversions in the context of measuring campaign success?
What are micro conversions in the context of measuring campaign success?
- Actions that only occur after a sale
- Actions that have no impact on the purchase decision-making process
- Actions that contribute to the purchase decision-making process (correct)
- Actions that directly result in a sale
How can non-conversion activities like social media or display be measured for their impact on leads and sales?
How can non-conversion activities like social media or display be measured for their impact on leads and sales?
What should be examined to determine the impact of non-conversion channels on sales?
What should be examined to determine the impact of non-conversion channels on sales?
How can video views impact brand awareness?
How can video views impact brand awareness?
How can customer awareness of a brand rise during or following a social media campaign?
How can customer awareness of a brand rise during or following a social media campaign?
What should be observed to assess if non-conversion channels impact sales?
What should be observed to assess if non-conversion channels impact sales?
What is an example of a valuable outcome of video views?
What is an example of a valuable outcome of video views?
What is the largest budget consideration of any digital marketing plan?
What is the largest budget consideration of any digital marketing plan?
What factor should determine the allocation of more budget into PPC in a digital marketing plan?
What factor should determine the allocation of more budget into PPC in a digital marketing plan?
What should a meticulously planned budget provide?
What should a meticulously planned budget provide?
What can be included as part of the overall budget in digital marketing?
What can be included as part of the overall budget in digital marketing?
What should be prioritized towards channels that deliver on your goals in a digital marketing plan?
What should be prioritized towards channels that deliver on your goals in a digital marketing plan?
What should you use for budgeting and forecasting in a digital marketing plan?
What should you use for budgeting and forecasting in a digital marketing plan?
What is essential for implementing a budget in digital marketing?
What is essential for implementing a budget in digital marketing?
What is the second largest expense in digital marketing budget allocation?
What is the second largest expense in digital marketing budget allocation?
Which factor may influence budget planning in digital marketing?
Which factor may influence budget planning in digital marketing?
What may be a better model for driving performance than charging a percentage of media spend?
What may be a better model for driving performance than charging a percentage of media spend?
What should be carefully evaluated before budget allocation in relation to digital tools?
What should be carefully evaluated before budget allocation in relation to digital tools?
What is crucial in focusing marketing efforts effectively with a small budget?
What is crucial in focusing marketing efforts effectively with a small budget?
What is the formula to measure ROI?
What is the formula to measure ROI?
How can traffic cost be estimated for digital marketing?
How can traffic cost be estimated for digital marketing?
What is a common challenge for late-adopting businesses in digital marketing?
What is a common challenge for late-adopting businesses in digital marketing?
How can ROI planning help in digital marketing?
How can ROI planning help in digital marketing?
What does the formula ROI = (revenue - marketing spend) x 100 / marketing spend represent?
What does the formula ROI = (revenue - marketing spend) x 100 / marketing spend represent?
What is the purpose of developing a budgeting plan for digital investment?
What is the purpose of developing a budgeting plan for digital investment?
Study Notes
Digital Marketing Budgeting and ROI Planning
- Allocate budget to channels efficiently delivering on digital marketing objectives
- Forecast channel performance using historical data as a benchmark
- Estimate traffic needed at historical conversion rates for a certain number of sales or leads
- Estimate cost of traffic by using historical CPCs or CPMs
- Evaluate realistically available budget for digital investment
- Common challenge of under-investing in digital for late-adopting businesses
- Anticipate ad spend allocation for media channels used in the marketing mix
- Prioritize budget allocation to avoid under-investment and under-performance
- Develop a budgeting plan to secure long-term digital investment
- Understand the role of ROI as the cost of digital activities versus the return they generate
- Measure ROI using the formula: ROI = (revenue - marketing spend) x 100 / marketing spend
- Determine ROI through sales and leads generated by digital activities, and their associated revenue values
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Description
Learn about forecasting channel performance and estimating traffic and costs for digital marketing campaigns based on historical conversion rates, CPCs, and CPMs.
