Recording campaign costs to calculate ROI for campaigns
In "Marketing --> Planning and Strategy --> Campaigns" we create campaigns and then we are able to add assets like landing pages or static list to it and this is great. We can also add budget and campaign goal and this is great too.
My problem is that I want to see the ROI for my online and offline campaigns. When I run a TV ad, I redirect people to a separate URL / landing page so that I capture all the traffic and leads that flow through this channel. I add the landing page as an asset to my campaign so that all the contacts acquired by it belong to this campaign.
But there is no place within the campaign where I can record my actual marketing spending and this is necessary to calculate ROI in reports. It would be great to have the possibility to record my actual ad spending for this campaign so that having ROI calculated I know if I still should be spending money on TV ads or not.
Ads spendings for online sources like Google or Facebook are recorder automatically and the ROI for these channels can be calculated with no problem. The same should be available for all the other marketing channels that are not integrated with HubSpot. I don't know if this should be at the campaign level because it can be mixed with the cost generated by its assets but maybe adding a new asset type ("advertising") and making it available to link with the campaign would be a good idea.
It should be possible to assign costs for this new asset type and the costs should be considered when calculating ROI for this campaign. It should be possible to record "advertising" costs in a one-to-many relation for this asset type and within a certain date range i.e.: when I pay for TV ads on a monthly basis I put my advertising costs month-by-month.
This would also allow me to measure the ROI on Facebook posts. When I hire a marketing agency to manage my Facebook and I pay them $5k / month, I can clearly see what is my ROI for this channel.
I think this would help a lot of people to save money on channels that are not performing as expected. Of course, multichannel attribution would be additional benefit to this.
Yes, 100%. Right now the only way to achieve event or campaign ROI that I am aware of is to actually integrate with SFDC campaigns, add campaign costs in SFDC, and tie everything together.
Posting on behalf of a customer here - this would be tremendously helpful!!! Campaigns aren't always limited to the online sectors, would be great to have everything tied together.
This would be so useful. At the moment we use campaigns to track impressions, sessions and Leads. We manually have to calculate the cost per impression, session and Lead in a spreadsheet. Would be great if we could track this all natively in Hubspot.
This would be so useful in the reporting to easily show ROI against each offline campaign! you already have all the data points, just need to stitch it all together.
Is this still not a thing? There's budget and spend info (that you have to put in and update manually, by campaign) in the Campaign object yet. Is it not useable for ROI?
Yes it would be great if HubSpot would allow for custom fields with formulas to be created on Campaigns, so that users could calculate Cost Per Lead (CPL) based on Budget, etc. The Campaign features in HubSpot need to better mirror Salesforce Campaigns are right now they do not include enough useful data for marketers when not integrated with Salesforce. It would also be nice to have the Budget and Campaign Spend fields be inputted upon campaign creation in HubSpot. Right now you have to create the campaign and then add the Budget after, which makes it hard to remeber to add it. Being able to make certain fields on the campagin required vs not required would also be nice, especially for custom fields that have been added to layout.
This is a really insightful discussion on calculating ROI for campaigns. I completely agree that having a way to record actual ad spending for offline campaigns within the platform would be incredibly useful. For anyone looking to track their time spent managing these campaigns and optimize their efforts, I recommend using a calculadora de horas . It’s a great tool for ensuring you're making the most of your marketing resources!
You've pointed out an important issue in campaign management. The ability to record actual marketing spend for all channels, not just the ones integrated with HubSpot, is crucial for accurate ROI calculations. Without this, it's hard to determine whether continuing investment in certain channels, like TV ads, is worthwhile.
The idea of introducing a new asset type, like "advertising," to track costs and link them to campaigns would be an effective solution. It would allow marketers to assign costs, track them over time, and integrate them into the ROI calculations for each campaign. This feature would also be valuable for managing outsourced services, like when paying a marketing agency for social media management, by providing a clear view of ROI for that spend.
Implementing such a feature would greatly assist in making more informed decisions and optimizing budget allocation, ensuring that resources are focused on the most effective channels.