ROI, Conversions, Loyalty, and More — Getting the Most from Your CPG Marketing Spend
In the past few columns in our CPG Marketing Magic series, we’ve embarked on an exciting journey through the realms of branding, user experience, inventory movement, and digital advertising. Now, it’s time to delve into the pivotal role of metrics in your marketing strategy. In this article, we’re diving into the world of analytics, where we unravel the intricacies of return on investment (ROI), conversions, loyalty, and how they shape the success of your CPG marketing efforts.
Let’s jump in!
Navigating the Challenges of Measuring ROI and Loyalty
Measuring ROI and loyalty can feel like deciphering a complex riddle. It involves navigating challenges such as:
Pinpointing the right metrics to track. Tracking conversions effectively. Understanding the ins and outs of conversion tracking and GA-4. Deciphering what’s “good” vs. what’s “bad”. Data overload! There can be so much to track and review that sometimes it’s hard to determine what the heck it all means.Additionally, a lack of standardization or a prescribed system by industry can often be one of the biggest challenges in measuring ROI. Each industry has its own niche with specific benchmarking “standards” depending on whether it’s a product or service, the product age, and audience diversity.
In …