An important aspect of local search marketing is being able to calculate your ROI. Unless you do this, you’ll have no way of knowing if what you’re doing is working and if your investment is paying off.
The problem is that there’s no clear method to calculate your local search ROI. There are some effects which are difficult to quantify, like positive online reviews and Facebook likes.
The good news is that there are now new ways to calculate your ROI. According to a recent Street Fighter article, if you work with an agency, then they can show you how to calculate your local search ROI:
"The most exciting thing I’ve seen is that the calculation of return on investment on mobile search becomes much much easier, particularly if you are a service business and you judge leads based on phone calls. There’s a huge industry built up around tracking phone calls. The paradigm is pretty mature, and the innovation and evolution happening on the post-search world is what I’m most excited about at this point."
An important aspect is that there are several factors which you need to account for. In addition to counting new leads and page visits, you also need to see how those leads translate to sales and your other marketing efforts. Even if your sales remain stagnant but you gained several new social media followers, the investment was probably worth it. Those followers will convert to customers sooner or later.
We recommend all businesses that practice local search marketing to take a look at their ROI. In the worst case scenario, you’ll identify what’s wrong with your local search efforts and will be able to fix it. Moreover, don’t hesitate to reach out for help in case you’re struggling to calculate your ROI. It’s important that you account for all of the relevant factors, even if they’re indirect.
To talk more about local search, or anything else, please contact us. Thanks.