Proving ROI, the IOI Way
November 30, 2022 | Nolan Villeneuve
If you remember a few months ago, we asked the question in one of our articles “What is the most difficult thing we face as marketers?” The answer, we found, was that even though we can run all of these extravagant marketing campaigns, it means nothing without the ability to prove Return on Investment (ROI).
In the article referenced above, we were able to prove a 1,333.33% ROI off of a $3,000 ad spend for one of our clients utilizing Google Ads, Facebook Ads and HubSpot’s slew of great tools they have. This allowed us to track and convert contacts from leads, to opportunities, to closed/won deals. You’ll have to check out the previous article we did to see exactly how we went about doing this, but here’s a quick overview of the process:
- Identify ad budget – in this case we had $3,000 Ad Spend
- Create a paid media plan – build a plan for the ads (who, what, when, where, and how)
- Build the ads – build each ad from the media plan, pushing contacts to a landing page with a form
- Create a new HubSpot Campaign to attribute new leads to
- Create tracking URL’s in HubSpot’s campaign tool to allow us to track ad interactions
- Input the tracking URL’s into the ads
- Run the ads
Given that this was a few months ago, we wanted to follow up with this in a “Where are they now” kind of story. That means we used the same tools, the same tracking abilities, a greater ad spend, and even greater results.
Given the success of our first round of Paid Advertising campaigns through Google and Facebook, we decided to build off of that and greatly increase the overall spend. The new budget given to IOI from our trusting client increased from $3,000 to $20,000. This allowed us to optimize the ads that were performing well and create new ads to improve on what we already had been doing well. We went back through the same process outlined above but added some additional optimizations into the sales process.
We added in a nurture sequence using HubSpot’s workflows tool which allowed us to send a series of follow up emails when a contact submitted on a website form after being driven there from one of the ads.
We also met with the client’s sales team to get a better understanding of how they use HubSpot, what makes a good-fit lead, and what makes a bad-fit lead. By listening to what both sales and marketing had to say about their customers and their internal sales process, it allowed us to target the paid ads effectively and capture information on forms that can actually be used in the sales process.
$20,000 Ad Spend
1,955 New Leads
34 New Deals and 7 Closed/Won Deals totalling $260,000 worth of revenue
Take $260,000 – $20,000 = $240,000 Investment Gain
That’s a 1,200.00% ROI
Which made one happy customer
Now, when you look at this, you may say “This is a 133.33% worse ROI than in your previous article.” While that is entirely true, you could also make the case that these recent marketing efforts have also generated $200,000 more than before. In the previous article, we were only working with a $3,000 ad spend, and were able to generate $40,000 worth of revenue off of that.
We’ll take the $200,000 improvement. Connect With Our Digital Marketing Experts Today