Is your company ready to increase marketing ROI and laser-target potential customers? Look no further than IDMap. This novel tech company has invented the technology that can acquire and correlate diverse, conventional, non-traditional data points and social sentiments – in real-time. IDMap’s founder Sabira Arefin has developed a data discovery and creation platform which leverages machine learning to acquire and correlate data points with social intelligence and build highly accurate business and consumer data sets.
IDMap creates unique derivative data products by combining information identified through its discovery and creation platform with data assets provided by its publishing, ad exchange, and crowdsourcing partnerships. These channels enable IDMap to curate and augment data sets to power B2B and B2C sales and marketing campaigns, customer retention and relationship management services, location-based services, search engine optimization (SEO), sentiment analysis, email list attraction, lead gen activities and more.
What is ROI in marketing?
Marketing return on investment (ROI) is the practice of measuring the profit and revenue growth resulting from marketing initiatives. By calculating the return on marketing investment, organizations can measure the extent to which marketing activities, either holistic or on a campaign-by-campaign basis, affect revenue growth. Marketing ROI is generally used to justify marketing spend and budget allocation for current and future campaigns and initiatives.
At the organizational level, calculating the return on marketing investments can help guide business decisions and optimize marketing activities. Understanding the ROI of a campaign helps marketers accomplish a number of key tasks, and IDMap has the capability to address the following integral areas:
Marketing Spend Qualification
CMOs consistently cite allocating resources and budget to marketing as a top priority. However, in order to secure the budget and resources for future campaigns, it is important that the current marketing costs and budget are justified at the management level. To do this, marketers must accurately calculate the return on investment that their marketing efforts will generate for the organization. For example, they should know if native ads are converting and generating ROI while display ads are falling. From there, budgets can be properly allocated.
Share marketing budgets
Online and offline channels have countless possible marketing mixes. However, all combinations of campaign initiatives require funding. That’s why it’s important to understand which online and offline efforts generate the most revenue in order to properly allocate your marketing budget.
Measuring Campaign Success and Establishing Baselines
A key part of a successful marketing team is the ability to measure campaign success and establish baselines that can be used for future efforts. With that in mind, accurately measuring ROI helps marketers do both. By understanding the impact of individual campaigns on overall revenue growth, marketers can better identify the right mix of offline and online campaigns. Additionally, consistently measuring ROI allows marketers to establish baselines to quickly measure success and adjust efforts to maximize impact.
Competitive Analysis
Tracking competitors’ marketing ROI allows marketers to understand exactly how their organization is performing in their particular industry. For example, marketers who monitor publicly available financial data can estimate competitors’ ROI and adjust fundamentals based on those estimates. This will help keep your efforts consistently competitive.
About IDMap
Entrepreneur and business management professional Sabira Arefin has over 10 years’ of experience in the tech development industry. She previously built the company LocalBlox from the ground up, and exited in 2019 after building it to a value of $5 million in revenue. This foundational database powered her larger organization and served its data needs.
“I’m someone who sees an opportunity and translates a concept into a sustainable product and solution that improves the efficiency of organizational operations,” she says. “I have experience in providing customer-centric data tech services, and take great pride in my work.”
Her passion for her work is fueled by her passion for life, intensified by the fact that she battled and won against cancer. This has given her a new insight into the unique tech needs of the healthcare industry, which is where she’s set her sights next. “Throughout my career experiences, I have become adept at evaluating processes and implementing strategies to achieve organizational goals while overseeing operations throughout all phases,” she says. “As I fought cancer, I saw both the triumphs and struggles faced by the healthcare industry, and I am inspired to help make vast changes there.”
Arefin has been acknowledged as a competitive innovator in the market and has conceptualized and maintained project plan and project budget for 10+ software applications including Peoplesoft, Hyperion, Sales Logix CRM Software, and other third-party applications. “Ever since I could remember, it has always brought me joy to contribute to public functions with the potential to improve my community,” Arefin says. “It is fascinating to learn the data behind how hospital operations contribute to growth in everyday life and society.”
