How Do You Measure Marketing Success?

Investing in marketing strategies can be one of the best ways to grow your business.  Intelligent investments can pay dividends well beyond the initial investment.  How do you, as a business owner, measure this success?

When we look at simple metrics like the number of likes on a Facebook, an Instagram post or on the total retweets we may overstate or understate our success.  Likes and retweets don’t always translate to revenue. We aren’t saying that these simple things aren’t important, but at the end of the day, you need to look at your marketing efforts holistically and use several metrics to truly determine the ROI on your investments.

User Engagement.

Sure you have 100,000 Facebook fans but do you post a status and get only 10 likes?  Perhaps you post a picture and say “comment with your favorite product” and only three people reply.  This means that your community is disengaged.  While social algorithms can have an impact, ultimately the likely culprit is that you don’t have quality followers.  Know your audience – understand your demographic and target them.  This will improve the community you develop and offer the opportunity to reach potential new customers.  We can help you map your customers to help you understand where you have strength and opportunities for growth.

Click-Thru Rates  

Do you regularly post campaigns on social media?  What about e-mail campaigns?  Do you use open rates as a measure of success?  What truly matters is not how many people opened it but really if they did anything with the content.  Click thru rates allow you to measure the success of direct marketing campaigns.  Some ways to improve these numbers is to send out links to relevant content, like podcasts, infographics, white papers and other material that has true value and isn’t just marketing content.  Engaging customers with meaningful content can help to generate leads or sales.

Conversion.  

Conversion is the step beyond click-thru rates.  It measures the outcomes of the clicks.  Converting a click to a revenue generating event is the ultimate goal for any type of marketing campaign.  Are they signing up for your service?  Did they buy a product?  This is the ultimate measure of ROI for your campaigns and efforts.

Natimark can help you understand your marketing landscape, customer profiles and reach, which allows you to create more informed and effective marketing plans.

Contact us today for a consultation!

3 Data Trends for Q3

Personalization of Data

It has been reported that personalized emails improve click through rates by 14% and conversion rates by 10%.  Are you personalizing your emails?  Including the recipient’s first name, geographically relevant references and/or other personal information will transform your email marketing campaign from generic to unique.  Personalization doesn’t stop with email – personalizing web content is also valuable. PURLs are an example of integrating personalized email with personalized web content.  Statistics show that nearly 75% of online shoppers “get frustrated with websites when content appears that has nothing to do with their interests.” Being able to engage everyone may not be realistic, but being able to engage your target customers more effectively can produce a greater return on your marketing investments.  We can help you track your market penetration to determine if your efforts are working!

Microtargeting

Microtargeting is the process of identifying your behavioral tendencies amongst your target market to take personalization to a new level.  By leveraging this data to create ultra-personal marketing campaigns you end up targeting only those who are most relevant.  The relevance engages the customer, resulting in the people you reach being far more likely to accept the call to action.

Microtargeting requires a few key steps – first determine who your target customers are.  This will dictate their needs and motivations.  Data append services are an excellent way to gather information about your target customers.  This will provide insights into how you can help the customer with your service or product. Customers who recognize their need perceive greater value and a valuable transaction converts customers into clients. Targeted campaigns tend to be at least twice as effective as other ad campaigns so why wouldn’t you choose to maximize the return on your marketing investment?

The Role of Data

A recent study indicated that 78% of all marketing professionals acknowledge the importance of data-driven campaigns and the need for high quality relevant data. So what does this mean for your organization? It means that data must be at the forefront of both your marketing strategy as well as customer acquisition and retention.  So how do you foster this in your own company?  The first step is acquiring the data – the second is analyzing it.  We can help you with both!

Contact us today to find out how we can help you become a data driven organization.