One Question Survey: Learn if Your Marketing is Effective
In the world of digital marketing, the only thing that doesn’t change is the fact that the world of digital marketing is constantly changing. New technologies, strategies, and needs are always surfacing. In fact, ten years ago being a coordinator for social media wasn’t even considered a job, receiving an email after abandoning a cart was unheard of, as well as ads that follow you around the internet.
It’s important to continually refine what goals you have in the world of digital marketing, as well as define what qualifies as a success. While the world of digital marketing is evolving, the principle for measuring and analyzing performance doesn’t change. A single question that can help you assess your marketing goals is this: Do you have purposeful goals that can be measured, reported, and intelligently analyzed?
Define Your Goals
Before you begin any project or take on any new task, it is always important to determine what success looks like. If no goal has been set, then your performance can not be tracked properly. On top of that, there is no reason to make changes or optimize current campaigns to achieve anything greater than what’s already being achieved.
This isn’t true with just marketing, but all initiatives. The difference between online and offline tracking is that with all of the developments in online marketing, tracking different aspects has become doable.
Each campaign, and marketing channel should have it’s own unique goal, as well as monthly benchmarks so you can see where improvement needs to be made and what changes are creating positive results.
Choosing the Right Key Performance Indicator
It is important to choose the right KPIs in order to run effective marketing campaigns. The data you pull should not only assess the performance of marketing campaigns, but also what happens after the click/sign up. If a campaign is cheap, has a lot of clicks, but no conversions… then ultimately, the campaign is worthless. Through properly setting up a tracking system, you can correlate marketing performance with business performance. This too will help you see what improvements need to be made.
Frequency of Reporting
There are many various forms of digital marketing, but none of them are a one-time installment. Comprehensive reports should be generated on a fairly frequent basis. If someone is managing your marketing, they should be checking on the different campaigns that are running on a daily basis. However, for channels like SEO, constantly checking reports is a waste of resources because it can take a while to rank higher. A weekly or monthly report should suffice.
When going over reports, it is essential to adjust your goals if you’ve outgrown them or rethink failing strategies.
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While generating data gives you insight into your different marketing strategies, an effective marketing plan can not be created unless a thoughtful analysis accompanies the data. Thoughtful analysis compares current data with historical performance, as well as other factors that may be impacting results – both negative and positive.
Leveraging reports to their fullest extent can only be done when the data is interpreted, in both the big picture and the granular. The difference between an insight and an observation is that true insights will generate ideas and decisions based off of what is succeeding and what areas need investment. Some strategies may need to be cut and completely redone. Through intelligent analysis you will avoid a lot of wasted budget that is keeping your business from growing.
Inspiration for Testing
Keep in mind that every insight coming from your reports gives you an opportunity to optimize every campaign. Leveraging these strategies will continue to give you more insight as you optimize your conversion rate. Whether it’s a split test on a landing page, a brand new advertising campaign, or a website test – all of these give you key insights into who you marketing strategies are targeting. No marketing campaign is a failure unless nothing is learned from it.
If you are interested in learning more about the solutions we offer at EverConvert, click the image below for a free marketing assessment or feel free to contact us with any questions.