What is the best way to monitor the return on Digital Marketing investment for an eCommerce site and for a corporate site not having shopping cart. ?

ROI for Ecommerce store - Simple to measure and it depends on where you run the campaigns - Facebook Pixel for facebook campaigns, You can use the Events attribute in analytics to measure the user engagements in cart page or 'add to cart' button. Also different attributes in Google analytics can be used to monitor the traffic from different sources and measure the conversions from each source. Conversion codes for Google Display ads - helps you to monitor the conversions (sales) via Google Adwords.

Corporate website - usually it depends on the CRM management linked with the contact form. You can use the google analytics attribute to check which page had more number of visits. Include the option to select a service in the contact form which the user who submits it, is interested in. Monitor through the CRM which all contacts were converted into sales. In case of phone leads the telemarketer or the person who attends the call can help by noting the source and let the digital marketer know about it.

These can help in optimizing your campaigns.

Collecting and analysing data should be a key part of your business strategy, and should regularly factor into your overall approach. The better you understand your customers and business, the more targeted and efficient your marketing efforts can be. In your own business scenario, try using a mix of quantitative and qualitative approaches to help build a clear summary of your activity. Have a think about the benefits of digital data and make sure you are collecting the relevant data you need to help inform those big decisions.

Ecom Website - its very simple as you can moniotr sales directly which is generated using Digital Marketing and you can track this using UTM in Google Analytics or any other analytical tool. 

 

Corporate Website: We can consider multiple metrics here, most important is leads generated using Digital Marketing then you can also consider visits, time spent and lower bounce rate.