As a small business owner in the digital age, you’ve probably heard about marketing ROI. This key metric helps you see how effectively your marketing efforts generate real returns. But with numerous platforms and campaigns in play, knowing the best ROI tracking method can seem impossible.
In this post, we’ll clarify return on investment (ROI) and why it matters for your bottom line. Then, we’ll walk through five ways to measure it—so you can focus on the strategies that truly make a difference.
What Is Marketing ROI?
ROI, or return on investment, tells you how profitable your marketing activities are compared to what you spend. Unlike measuring profit margin alone, marketing ROI is typically calculated as a percentage:
ROI = [ (Revenue – Expense) / Expense ] x 100%
Watching your marketing ROI lets you avoid pouring time and resources into efforts that don’t pay off. Instead, you can direct funds to the channels that yield the results you want.
For small businesses, showing a clear return on marketing spend can also build confidence among partners, investors, or even your own team—everyone sees how your campaigns contribute to progress.
Most importantly, ROI tracking means you’ll know which tactics drive revenue and which ones need rethinking.
5 Ways to Track Your Marketing ROI
1. Use Analytics Tools
To see which campaigns actually deliver, analytics tools are a valuable starting point. These provide information about your visitors and your website's performance.
Platforms such as Google Analytics show you:
- Traffic Sources: Where visitors come from (organic search, social ads, etc.)
- On-Site Behavior: Pages they visit, how long they stay
- Conversions & Revenue: How many people complete an action or purchase
In addition to being free, Google Analytics has become standard for detailed, privacy-conscious tracking.
Tracking ROI is essential when evaluating your social media strategy, too. On the most popular social media advertising platforms like Google Ads and Facebook Ads, it only takes a few clicks to view the ROI of each campaign.
2. Assign Unique Phone Numbers
If many of your leads call in directly, unique phone numbers can help you distinguish which ad, channel, or campaign resonates most. For example, one number might appear on billboards, another on your website.
Compare the call data with ad costs to see where your marketing ROI stands.
3. Integrate QR Codes
Though they’ve been around for a while, QR codes continue to bridge offline and online marketing. When scanned, they send prospects to a specialized web page—so you know exactly which ad or medium they came from. This is especially handy for flyers, mailers, or event booths where digital data might be harder to capture otherwise.
Besides the campaign the QR code is associated with, you get to know your customer’s location and device.
Accompanying your ads with QR codes can help you track your marketing ROI
4. Ask Customers Directly
Surveys and forms are still a straightforward way to track where customers learn about you.
Adding a simple “How did you hear about us?” to your contact or purchase forms can uncover valuable info. Keep it brief and neutral so people give honest answers. While self-reported data isn’t perfect, it complements more automated tracking methods.
5. Monitor Influencer Partnerships
Influencer marketing is a great way to attract new customers, but you need a clear link between an influencer’s activity and your ROI tracking. Provide each partner with a unique code or link, then measure how many new sales or sign-ups come through it.
You’ll quickly see which influencers speak to the right audience—and which ones don’t.
Track Your ROI with Scorpion
Without tracking your marketing ROI, it’s tough to know what’s working.
Thankfully, methods like analytics, unique phone numbers, QR codes, customer surveys, and influencer-specific codes can give you the clarity you need. Once you see which channels truly drive revenue, you can emphasize those approaches and set aside what’s not bringing results.
But, setting up ROI tracking across multiple platforms can be complex.
Scorpion has helped countless small businesses:
- Establish analytics in Google Analytics or social media dashboards
- Develop trackable campaigns (with different phone numbers, QR codes, or custom links)
- Fine-tune efforts based on which campaigns create the biggest returns
If you want professional guidance on measuring and improving your marketing ROI, reach out today. Let’s pinpoint the best strategies for your business and ensure every marketing dollar is well spent.
Reach out to Scorpion today.
