Snapshot Survey Results | Is Online Marketing Cost Effective?
In the January 2018 Snapshot Survey, we asked contractors all about digital branding to get an idea of what’s working in the industry and what’s not. Here’s one survey question and its results from the summary report, which is now available in its entirety to EGIA members.
Question: Has your company found online marketing to be a cost-effective way to increase leads?
While just seventy-one percent of those surveyed said their companies had engaged in online marketing, a whopping 81% of those who had engaged in it found value, against 19% who did not.
While it can be daunting to shell out untold amounts of money toward marketing, there’s balance to be found once you’ve established a proper return on investment (ROI) that will ensure the revenue you bring in from any given marketing activity exceeds the marketing costs.
Once you’ve found the target ROI, after factoring in other expenditures and costs associated with onboarding new customers, it’s much easier to simply incrementally increase those marketing costs knowing revenues will increase proportionately.
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