Marketing is one of the most important expenditures for a company to monitor when it comes to budget. If you can’t prove your marketing efforts are generating business, then you might not have any grounds to stand on at budget meetings.
That’s why measuring your marketing campaigns are critical to validate your efforts.
So what is the most effective way to measure a marketing campaign?
The answer is digital marketing.
There are several steps that are involved when it comes to tracking the results of a digital marketing campaign.
1. Start with a well planned campaign, including details related to your website:
- Keywords that are valuable to your website
- Current traffic and desired traffic
- Organic referrals and strategic referrals
2. Determine the sources of your web traffic, and how to best track them in your campaigns. Are visitors finding your website through:
- Search engines?
- Social media?
- Direct visits to URL?
You could also track customers who visit your website through paid ads and emails.
3. Define the marketing metrics you want to measure for ROI. These metrics will allow you to see if your marketing campaign met your goals that were set. There are a variety of ways to do this:
- Lead conversion measures a customer’s behavior from initial contact, to recurring visits, to the close of a sale. This metric will help you track where potential customers may have fallen off the wagon, or what pathways were most valuable to your campaign.
- Tracking new visitors VS returning visitors aids in showing how effective new content drives traffic to your website.
- Click-through-rate (CTR) measures how many people visited a webpage and left, and how many people visited a webpage and took action. CTR reports work well to measure the effectiveness of ecommerce sites and call-to-action initiatives.
- Bounce rate is compiled data on how many viewers go to one of your webpages and then leaves without visiting anywhere else or taking any actionable steps. However, bounce rate can be misleading because customers may have been satisfied by all the information they wanted and didn’t need anything further from your website.
- Page Views can tell you which webpages are most valuable to your company, and could inform you to make similar pages or concentrate on marketing that page to more customers.
- Search engine referrals can track what keywords and search engine people used to land on your website, so you can concentrate on those topics as you develop more content to help customers.
- Social media features auto-generating reports to track and measure advertising effectiveness.
4. Measure your campaigns once it has gone into effect. Check how your traffic is doing pertaining to your website. Don’t forget about tracking your SEO position ranking and your pay-per-click ads. Take a look into your social media metrics using their built-in analytics that help track the effectiveness of your posts and ads. This information will support you at budget meetings and help you to refine your strategies.
It’s not enough to make guesses about what is or isn’t working. It’s important to use the tools that exist to track results and gather data, especially among competitors. This data can help bring success to your future marketing campaigns.