39% of marketing professionals think evaluating ROI is their top challenge
64% of marketers want to know how to devise better marketing strategies
Email marketing, event marketing, and content marketing are the top lead generation strategies
Your business marketing plan isn’t just a tool for increasing sales. It’s how your brand will be represented in whatever content you put out, both through your digital efforts and through your personal interfaces with potential customers.
But how can you tell if your marketing strategy actually works?
If something is underperforming, the “make it new” approach—tossing the whole thing to start from scratch—isn’t always the best way to go about it. Even a strategy that fails doesn’t usually fail entirely.
Evaluating your marketing plan’s success takes some time, patience, and a good bit of data analysis, but it’s worth your while! Keep these tips in mind before you go back to the drawing board.
Define What Success Means for You
What determines a successful marketing strategy? A good marketing plan doesn’t look exactly the same for any business. You have a unique brand and voice, and you’re addressing a specific need in your industry. So, part of answering this question means defining what success means specifically for your business, and what your goals should be.
There are different components that make for an effective marketing plan. You need to decide exactly what you want to accomplish with each one, and then, alongside the costs, set benchmark parameters to help you keep track of your accomplishments.
Examples of Marketing Components
Web Content Optimization
Social Media Marketing
Trade Shows & Events
Common Digital Marketing Campaign Objectives
After choosing which components of your marketing strategy you want to track and evaluate, you can narrow down objectives for each campaign. Here are some of the most common objectives of digital marketing campaigns:
Return on Investment
ROI is pretty general, but it’s also the most obvious objective. Increasing revenue from your marketing investment is a key sign that customers are responding and choosing to engage with your brand, as well as purchasing your products and services. Analyze your sales data to see what effect, if any, your marketing plan has had on your profits.
Your website is typically the first point of contact from your potential customers online, so it’s important to optimize web content for search engine rankings through SEO. Your content strategy is important for gaining user traffic and should be informative, relevant, and authoritative for users browsing your website.
User engagements can most commonly come from your social media, paid advertising, and email campaigns in the form of views, click-throughs, shares, and much more. These are a good measure of how potential customers are interacting with your brand, and which campaigns are earning successful conversions.
Earning positive (or negative) feedback from your customer base is one of the easiest ways to get a sense of how your marketing strategy is doing. You can utilize things like:
Social Media Comments
Customer Service Surveys
Mailing List Growth
When you use these avenues to gain customer responses, be sure to ask where and how the customer found your business—whether it’s through social media, a Google ad, or by word of mouth from a friend or professional associate. This can help you determine which marketing aspects are actually being effective.
How to Audit Your Efforts
You should analyze the success of your marketing strategy by auditing your efforts. That may sound complicated, but it simply means taking each campaign and evaluating its efficiency using the right measures:
Web Content Optimization
Organic User Traffic – The number of people browsing online using search engines who find your website organically (without the help of paid ads).
Bounce Rate – How long a user views a page on your website before going to a different page or leaving your site entirely. Creating quality, on-brand content will keep users on your website longer and will help you make conversions.
Social Media Marketing
Web Traffic – Calculate the users browsing your website that navigated from your social media platforms first. It’s a good measure of how much your social campaigns are contributing to web traffic.
User Engagements – Again, these include likes, shares, comments, retweets, and new follows that are actively “engaging” with your brand. You can learn which platforms (Facebook, Twitter, Instagram, etc.) are performing the best for your business.
Delivery Rate – The number of emails that are successfully delivered to your email list.
Open Rate – How many people actually open your emails and read its content, instead of depositing them into the spam folder, or worse, unsubscribing.
Click-Through Rate – How many people follow the Call-to-Action (CTA) in your emails by clicking any links to your website. This is the goal of a successful email campaign.
Average Position – The ranking of your paid ad in search engine results. This is important since you’ll be competing for a rank position with other businesses in your industry who use similar keywords and topics.
Cost Per Click (CPC) – You’ll pay for every click on a CPC ad, but you’ll get a direct measure of how many users are engaged by the ad and will potentially make a conversion.
Impressions & Click Rate – Impressions show how many people viewed your ad, while the click rate determines how many of them followed through by engaging with the ad.
Trade Shows & Events
Leads & Appointments Scheduled – Trade shows and in-office events are not just a great way to increase brand awareness, they’re also great tools for networking, getting new leads, and scheduling appointments with your sales team for consultations.
Promo Items Distributed – Keep track of how many promotional goodies you give out during trade shows and events, and you’ll get a good idea of how many people were interested in your brand and may come back for more.
Saving a Failing Strategy
What’s not working?
If you haven’t gotten the results you’re looking for, it may just need more time to work. There may even be points of your marketing strategy that can be fine-tuned, or reoptimized.
Your customers, partners, and employees are all great sources for feedback, but you may discover that you need to refocus some of your strategies to better target your audience. You can even try testing out different CTAs with A/B testing in order to find out what messages perform the best, diversifying your marketing strategy with creative branding techniques.
Is It Time to Call on a Digital Marketing Agency?
For the best results and a dynamic marketing strategy, a professional team powered behind you can make all the difference. Digital Resource is a full-service agency specialized in all aspects of digital marketing, from custom web design and multimedia content creation to social media marketing and paid advertising. Contact us today to schedule a consultation with one of our internet marketing specialists!
Emily is a graduate from Florida Atlantic University where she studied English and communication. With a background in journalism, she is passionate about writing engaging and informative articles, and has a love for local businesses. Emily strives to assist businesses in building their brand identities and communities through quality, digital content.
Domain authority (DA) correlates with search engine result pages There are over 40 variables used to calculate domain authority Backlinking is critical in increasing domain authority How do you determine your online success? How about the strength of your online presence? These are the questions that online marketers contend with regularly. The truth is that […]
Social media has become a huge part of marketing. What’s crazy is they’re all fairly new. The oldest of the current popular ones – Facebook – was launched in 2004 and didn’t become a social media powerhouse until years later. For a business, having influence on social media has pretty much become a necessity at […]
40% of online transactions happen on a mobile device 51% of marketing budgets are put into mobile ads 4 billion people use the internet on mobile Not long ago, companies weren’t putting much thought into mobile marketing. It’s hard to believe that smartphones aren’t really that old. When they first came out, there wasn’t much […]
Videos on Facebook receive 8 billion views per day One-third of people on the internet use YouTube Users watch 2 billion videos on Twitter per day Creating awesome video content is one thing, but did you know that you should handle video posting differently for all of the popular social media platforms? That’s right! Social […]
56% of Americans stop buying from brands they believe are unethical 75% of consumers say they would take action against irresponsible companies Black hat marketing practices can get your business banned from search engines Not sure if you’ve noticed but the world is changing and it’s happening fast. What we value about a company is […]
If you had it your way all the time, people would be spending hours on your website right before converting, but unfortunately that’s not the case. People have short attention spans, which can result in a high bounce rate. Only 28 percent of words are actually read on a web page. Your website needs to […]
70% of what people watch on YouTube is determined by its recommendation algorithm 73% of U.S. adults use YouTube 500 hours of video are uploaded every minute The majority of Americans watch videos on YouTube, so if you’re not using it to advertise for your business, it’s definitely something you should look into. YouTube is […]
86% of buyers are willing to pay more if it means a better customer experience. 75% of consumers prefer companies that offer rewards 65% of business comes from existing customers The most important factor in a strong relationship with your clients is trust. Trust is the thread that weaves through every healthy relationship, and that’s […]
You just published your blog post or video, and you’re super excited, but no one’s liking or commenting. That probably means no one’s sharing it either. No matter how good you think your content might be, it won’t reach its true potential if no one is sharing your work. That’s why you need to find […]
Facebook is the most popular social media channel for digital marketers producing content Instagram provides the second-highest ROI for marketing efforts Increasing brand exposure is the most commonly cited benefit of social media marketing Cultivating a social media presence for your business can seem like throwing wet spaghetti against the wall – trying to see […]