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How to Measure Marketing Efforts – and Why It’s Important
Measuring marketing results helps you weed out what isn’t working and concentrate on what is.
Nine times out of ten, marketing efforts focus on lead generation or brand penetration and all of the tactics that lead to one or both of those goals. With this in mind, you’ve got to identify the tactics to execute and the expected results. For brand penetration, we typically we measure general statistics like website traffic, social following/engagement, and email reach. These indicate the overall reach of the brand and the messaging.
For lead generation, however, we tend to be much more specific. These typically include direct online sales, indirect offline sales, lead form completion, phone calls and direct email response.
We try to tie each lead contact to a specific marketing tactic so that we can adjust our efforts, focusing more on the positive results and less on the under-performing efforts.
Reporting and Analysis is NOT Optional.
It is imperative to measure marketing efforts to understand what is or is not working. Measuring marketing efforts and collecting data is only the first step. The power of data comes from the analysis and actionable insights gained from understanding what the information means and how the metrics can be improved.
It is also essential to have clearly defined and measurable objectives set which should directly impact and support a company’s overarching business goals. Check out my previous post on Marketing Goals and Business Objectives Examples.
Your goals should indicate what marketing measurements to use.
How you measure depends on what your goals are… but it’s so important to measure whether your efforts are working. One great (and fun) way to compare marketing tactics is through A/B testing. Whether it’s through social media advertising or email marketing newsletters, testing out different styles of language and imagery will help you understand your audience and how to best reach them.
If you’re looking to build brand awareness after a name change or reorganization, impressions and website clicks would indicate the word is spreading and people are looking to see what’s new. If you’re selling event tickets or products, aside from users actually purchasing the product, having the user register for your emails will show you that person is interested in your business and may be a repeat customer.
Testing, testing — 1, 2, 3
Thankfully, there are a variety of marketing tactics at one’s disposal. Which tactics are utilized AND the effectiveness of those marketing efforts depend on the client’s goals. While increasing the number of newsletter recipients is beneficial for extending one’s reach, it is not DIRECTLY effective in lead conversion. While moving up in Google rankings is an improvement in SEO, it does not have a DIRECT impact on time-on-site. Effective marketing efforts “move the dial”, mostly in the direction toward the goal. When the dial is moved in the less-preferred direction, something is learned and is thus still effective IF changes are made. Without measuring the various marketing tactics, one will never know which direction the dial moves, or if it even moves at all.
Measuring your marketing efforts may offer insight into new opportunities.
Measuring your marketing efforts is essential for assessing growth and improvement opportunities. It’s important to analyze your efforts to make sure you’re on track to hit your goals — or your clients’ goals.
Google Analytics is a really helpful tool for measuring marketing efforts. You can also use Facebook insights to track post reach, Google Ads to track CTR, CPC and conversion rates, and MyEmma or Constant Contact to track your email open rates, CTR and bounce rates.
The more you know, the more you can grow.
By the growth of organic traffic, social media outreach, and lead conversation to name a few. These are all important because they can affect the ROI when engagement with customers takes place.
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