How to measure the success of your marketing campaign

Marketing campaigns can have a variety of goals, such as increasing brand awareness, increasing sales, or increasing event attendance. But every campaign requires company resources, whether it’s money from the marketing budget or the time and expertise of employees. When resources are at stake, leaders want to know if there is value in how they are being used.

However, it can be difficult to determine the effectiveness of marketing campaigns if leaders don’t know what to measure. Having an overall goal is a good starting point, but the purpose should be specific enough to tie into data that can be collected and analyzed. Whether that feedback consists of numbers or consumer perceptions, linking it to your campaigns can help you determine if you’re using your resources wisely. Here are some ways to measure the success of your marketing campaigns.

1. Start with historical metrics

When you launch a campaign, it should perform better than the previous campaign. The sales director wants to improve on last year’s numbers, and his marketing leader wants to show that the return on ad spend is improving. But you need benchmarks to know what and how much you want to improve.

This is where historical data and metrics come into play. You can start with ecommerce analytics to reveal the traffic volume and conversion rate of your online store. Perhaps your website traffic from previous pay-per-click advertising is substantial. However, according to the data from the past year, the traffic has been flat and we would like to increase it. You can use traffic volume as a benchmark to see if your current pay-per-click advertising campaign moves the needle.

You can also measure changes in conversion rates. Are your online ads driving store conversions and sales? Data may show that pay-per-click advertising doesn’t make a big difference in ecommerce sales, but you want to change that I think. Experiment with different look and feels by changing the Call-to-Action button text. If your online store sales increase due to visitors clicking on new ads, these changes indicate campaign success.

2. Think more than numbers

To measure the effectiveness of your marketing campaigns, you need metrics. That said, some goals are difficult to quantify and require qualitative data instead. For example, you may want to launch a rebranding campaign that seeks to change consumer perceptions of your company and its products. Instead of measuring conversion rates or click-through rates, you should track changes in your target audience’s perceptions.

Qualitative measurements can compare customer survey comments or use sentiment analysis with focus group results. Certain research tools, such as the Net Promoter Score, help quantify and track certain qualitative data. Net Promoter Scores typically measure changes in customer loyalty, but you can also reveal overall sentiment by including a comments section. You can also compare your company’s scores to industry or general averages.

Positive consumer sentiment and increased customer loyalty following a rebranding campaign can point the way to success. However, it is important to take other changes into consideration in the meantime. For example, have previous studies indicated problems beyond consumer perceptions?

If your business has also amended confusing billing or promotional practices, check to see if survey comments mention these changes. Also consider whether your rebranding campaign highlights these improvements. If so, you can focus more on the impact of your campaigns.

3. Use a digital marketing attribution model

Marketing leaders increased their spending on digital advertising by 15% this year compared to 2021. The reasons behind this shift to his marketing online include the ability to track the performance and impact of specific digital assets. When you spend money on radio and TV spots, it becomes difficult to convert those ads to leads and sales. But online dashboards and tools can show you what digital assets your prospects and customers see and interact with.

This data allows you to determine the performance of your assets using digital marketing attribution models. Social media posts and ads may be the first thing most prospects see. From there, they go to your website landing page. Some visitors take further action by clicking to visit your online store. However, some blog posts move leads through the sales funnel. You can see that these posts have a high percentage of visitors that convert.

Various digital marketing attribution models may attribute campaign effectiveness to landing pages and blog posts rather than social media ads. Because they are the last assets people touch before they convert. Other attribution models consider the impact of each digital asset. Using a mixed model can help you decide that social media is the best channel for building awareness and attracting leads.

But let’s say your blog posts outnumber your landing page conversions. Linking your social media ads to your blog can lead to better earnings. By measuring the difference in conversion rates for your social media campaigns, you can see if this is a more effective strategy.

4. See your customer retention rate

Marketing campaigns aimed at existing customers are usually aimed at driving additional sales. Email and mobile app messages are classic examples of campaign tactics that leverage personalization and existing customer data. In most cases, email and mobile marketing uses your past browsing and purchase information to create targeted offers.

A customer may have viewed a particular product on your website in the last week. They didn’t buy those items, but they did spend a good deal of time looking at them. increase.

When a customer makes a purchase, it means your targeted campaign efforts are on point. But if that person unsubscribes from your Mailing Hers list or deactivates their mobile Hers app account, your message will have the opposite effect. You will find that you need to reconsider either your strategy or your message.

Measuring Marketing Success

Marketing doesn’t just drive sales, but sales numbers often determine its effectiveness. By correlating the right data and results to different campaigns, you can prove your ROI and influence (or lack thereof). Marketing leaders can do this by looking at historical benchmarks and other metrics. But campaigns can have both immediate and long-term impact, so leaders should also include changes in customer loyalty and sentiment in their final analysis.