Running a successful marketing campaign takes time, money and a lot of effort. After all of that, the big question is: How do you know if your campaign has been effective?
Marketing is one of the most important expenditures any company will make. After all, if you are not doing the right strategic things to add to your customer base, you will not hit the goals you have set. That is why effective marketing campaigns are critical to the continued success of any business.
The problem is that most companies do not have a never-ending marketing budget. This is why it is imperative that businesses examine the effectiveness of each marketing campaign to see if that type of campaign was successful or if they need to use alternative marketing methods and channels.
The Three Step plan to Successfully Measuring your Marketing Campaign
Measuring the effectiveness of your marketing campaign should never be an afterthought. To successfully measure a campaign, you need to understand what you need to be tracking through the planning and implementation of the marketing campaign.
1) Plan your campaign and define the channels you need to track
As with anything you try to implement in your business, it starts with building a thoroughly detailed and effective plan. Marketing is no different, you need to define what channels will be most effective for your business, such as events, e-newsletters, social, etc. Next define when and what you will promote through each channel and make sure your content is integrated, for example once you have selected which exhibitions to attend, you should be emailing the exhibitor list and posting on social about the event before, during and after.
Once you have devised your plan and decided what channels will be utilised, you will need track exactly how your traffic is finding your business:
And what channels are driving traffic to your business:
• Search engines
• Social media
• PR campaigns
• Paid for print advertising
• Paid social advertising
• Direct Mail, etc
2) Define the metrics you want to measure
As with any business investment it is key to know what return on investment you’re getting, again this is key to understanding how the marketing campaign has performed. As we now know what channels we’re using and what we need to measure, we can now compile what metrics you need to track to determine the performance of the marketing campaign.
There are hundreds of different metrics you could track, picking the ones essential to your campaigns that actually prove the marketing activity is working is the hard part. We have compiled a list of the best non-vanity metrics to track for each channel:
o New visitors v returning visitors
o Bounce rate
o Visits on each page
o Source of the traffic
o Time spent on each page
o Visitor demographics
o Conversion rate
• Social Media
o New followers
o Web traffic from social media
o Most popular content
o Video views
• PPC (Google Ads & Social)
o Click Through Rate
o Cost Per Click
• Email Campaigns
o Open Rate
o Bounce Rate (Soft and Hard)
o SEO ranking
3) Measure Your Campaigns
Now you have completed the planning for your marketing plan, you have chosen your channels and decided what metrics you want to track, now is the time to begin actually tracking and measuring the impact of your campaign, the best tools to enable you to do this are:
• Google analytics for all your web traffic
• All the major social platforms have a built-in analytics suite to measure both organic and paid for advertisement
• Google Ads will show how your PPC campaigns are performing
• Most major email platform providers will provide with the insights on campaigns you have sent out
It is no longer enough to guess the impact of marketing campaigns. The tools and data exist to enable you to track results, especially for tracking digital channels, so they must be utilised to determining the effectiveness of any marketing campaign that was implemented.
For years Marketing Directors did not have answers to questions concerning the effectiveness of marketing campaigns with the exception of sales increase. That is no longer the case, now even if a marketing campaign fails to produce the desired result of increasing sales, it will still provide you with valuable insights going forward, which can help to make your next marketing campaign successful.
It is imperative that you use the analytical marketing tools that are available to gather data and scrutinise that data to continually improve future marketing campaigns.
What to do next?
If you’re looking to implement a new marketing campaign, through our unique ‘Dupree’ process we can assist your business at every stage of the process from planning, to implementing, to measuring the impact.
Feel free to get in touch at firstname.lastname@example.org or call on 01780 757666 to book a free consultation.