How do you measure your marketing campaign? It’s crucial to evaluate your marketing campaign using the right tactics and tools to ensure that you determine its strengths and areas of improvement. Whether you launch an offline or online marketing campaign or a combination of both, it’s essential to have an objective and data-driven analysis decision-making process as to how you can measure its success.
There are plenty of benefits of including this step in your marketing, such as increasing your leads, conversion, and sales. In addition, you’ll better understand what type of marketing strategies are suitable for different buyer personas and how you can direct and assist them better in the sales funnel.
In this article, you’ll learn some helpful tips on how to measure the success of your marketing campaigns.
1. Use The Right Tools
What are the tools you’re currently using in evaluating your marketing campaigns? Are they effective? Or are you thinking of investing in new tools? By using the right tools to measure your marketing campaign’s success, you can view accurate data and use the information in improving your strategies. In short, you’ll have a great basis to measure success.
Check the following marketing evaluation campaign tools you might want to consider:
- Enterprise Call Tracking: According to Dial800, enterprise call tracking is a software program that gives you comprehensive conversion tracking. This indispensable tool is important in evaluating your digital marketing and direct response marketing campaigns.
- Marketing Project Management Software: For marketing project planning, using this tool can help you in planning project timelines according to your previous track record. A marketing project management software can be used to prioritize, capture, and organize campaign ideas. In addition, you can adjust the schedule as needed and track your marketing campaign progress in real-time.
- Customer Relationship Management: A CRM software is a very powerful communication tool that enables you to access key information, giving your customer service, marketing, and sales teams great advantages. This software technology manages all your business’s interactions and relationships with potential customers and existing customers.
2. Gain Customer Perspectives
Another way to evaluate your marketing campaign is to gain customer perspectives or asking your customers directly if your strategies are effective or not. By knowing what your customers think about your promotional tactics, you’ll gauge what strategies to keep, improve, or eradicate.
Here are some tips to go about gaining customer perspectives:
- Use An In-store Questionnaire: Using a questionnaire is an inexpensive and easy way to monitor your marketing technique’s effectiveness. You can evaluate how well you’re promoting a new product or service to your existing clients by communicating to them using a questionnaire.
- Conduct A Survey Study: Sending out surveys to your target audience through random sampling can help you see if they’re familiar with your brand or company.
- Direct Questioning: You can tell your sales reps to ask new clients how they’ve learned about your company to determine the most persuasive marketing strategies you use.
3. Know And Compare Your Competitors’ Marketing Tactics
Do you know the best marketing strategies of your top competitors? You might see their massive presence online because of accelerating digital marketing strategies.
You can evaluate their marketing strategies by assigning someone to check the type of content your competitors use in their website and their presence in various marketing channels such as the following:
- Social Media: Check what type of social media posts do your competitors use on their fan pages, such as animation, contests, inspirational videos, and a summary of articles they have on their website.
- Business Directories: Are your competitors present in major online business directories? You might want to also include your business in these listings to improve your trustworthiness and good reputation.
- Community Forums: Are your competitors participating in community forums online? People ask questions and answer them on these platforms. You can provide your insights on topics related to your expertise like what others do and attach a link to your website to direct online users to your business.
- Partnership platforms: These platforms refer to organizations and agencies that businesses tie up with to provide free products and services in exchange for exposure.
4. Split Testing Or Bucket Testing
Split testing or A/B testing is one way to measure the progress and success of your marketing campaigns. For instance, you can measure your content marketing campaign by creating two versions of content and testing which among the two drives more visitors and sales. This testing also applies to ads and landing pages.
5. Know Your Capabilities
Do you know your current capabilities when launching and evaluating various marketing campaigns? These capabilities include how ready you are in terms of infrastructure, manpower, and techniques. In this way, you can both evaluate and improve your marketing campaigns.
Check these tips to determine your marketing capabilities:
- Create Research Opportunities: You can identify the potential problems that your business faces when converting customers by creating buyer personas (your ideal customers). You can also create research opportunities by analyzing your quantitative data through analytics, session videos, and heat maps.
- Set Your Proper Expectations: Think of reasonable goals and make sure that they’re realistic. For instance, you can set your target sales goal to increase by 10% to 20% next quarter, instead of a big jump. With the right expectations, you can reduce the huge pressure on your marketing team to improve productivity and maintain competitiveness.
- Know Your Technical Limitations: For the efficient and quick implementation of your marketing project, make sure that you have the right technical resources for testing and monitoring. If you’re lacking the right technical requirements for monitoring and assessing your marketing campaign, you can invest in the tools mentioned above or hire someone to do it in-house or outsource.
Every business needs to evaluate its marketing campaign to determine if the strategies are successful or not. In this way, you can save time, effort, and money, and make a sound business decision. Now that you’ve learned the various ways to do it, it’s high time to evaluate your current business marketing strategies by following the tips shared in this article.