How do I track the real ROI of my marketing activities?

Understand that ROI isn’t always immediate or directly trackable. An art show where you only broke even on booth costs might seem like a failure, but if you met someone there who hired you for a major project six months later, that show was incredibly successful. Similarly, a small sale off your website might lead to a referral that becomes your largest client. Focus on the number of new customers acquired per year, as this is directly proportional to revenue potential. Every interaction, every small sale, every social media post is a potential seed for future opportunities. Many successful deals come from connections made at events that seemed unproductive at the time. Be prepared for opportunities when they arise, and cast a wide net rather than trying to optimize each individual activity.

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Asked by an artist trying to measure marketing effectiveness · Answered by Patrick Shanahan and Derek Emge · art-marketing-podcast · 2024-09-06