How Do You Know If Your Marketing Is Working?
Is it fair to judge your marketing solely on whether you get new customers?
Monitoring your marketing and advertising efforts is crucial to ensuring your money is working for you and not someone else. The fact is, not every marketing or ad campaign is going to result in immediate business. Sometimes a campaign is simply launched to drive awareness; but how do you know if that was a successful campaign if it wasn’t designed for immediate return? This is where analytics comes into play. Before we launch any campaign, define the parameters for what expectations you have. Once the campaign is in motion, begin monitoring the progress against your predefined metrics, or key performance indicators (KPI’s), as factors to determine the level of success you have or have not been achieving. This is ideally the timeframe at which we start reporting to our clients, as they have been briefed and are better prepared to participate in the review of our progress. Communication is key with our clients, as often times we’ll have something complex to report on that could be difficult to translate. If we haven’t established a good foundational partner-like relationship where the client has been educated prior to our launch, it would make reporting analytics seem like a smoke and mirror show, and that’s certainly not beneficial to any professional relationship… unless you’re a magician of course.
We use a variety of online tools to help us analyze and make intelligent decisions. Here are a few of the things that we measure on a daily basis, or metrics parameters that matter most to us on a daily basis…
- The total number of people that clicked on a post, ad, banner, etc…?
- Conversion rate – How many of those people took action?
- The number of first time or unique visitors?
- Call tracking
- What time of day do they most often visit?
- The number of shares?
- Where did the traffic originate from?
- Bounce rates – Out of the people that visited, how many left the page shortly after arriving?
- How much time does the average visitor spend on the site?
- What device are they using? (i.e..mobile, tablet, PC, etc..)
- What is our cost per visit, if any?
- Revisits and retargeting metrics
- Number of pages per session
- Dormancy rates
- Number of external links
- Goal success rates