Several factors impact the success of your marketing campaigns.
It helps to study a digital marketing course, such as those available at GetSmarter, to equip yourself with relevant knowledge and skills.
You also have to embrace technology, such as automation.
Plus, you need to have the budget to bring your creative ideas into reality. More importantly, marketing analytics is necessary to gauge the effectiveness of the campaign.
With that, in this article, we’ll talk about the ways to assess the success of your marketing efforts.
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Measure Open Rates
This is one of the best ways to measure the success of your email marketing campaign.
A high open rate means that your message is catchy as it entices the receiver to make an action favorable on your end, even if it does not necessarily translate into making a purchase.
If the open rate is low, rethink the way you are crafting your message to encourage the recipient to click.
Know Your Lead Sources
To measure the return on investment of your marketing strategies, keep track of your lead sources. This will give you an idea of the platforms that your customers are using, and hence, you will know what to utilize. The leads can come from social media, emails, websites, and pay-per-click advertising, among others.
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Evaluate Your Search Rankings
Another great way to measure marketing effectiveness is to determine how you rank in search engine sites.
The goal is to be at the top of the results when people search for keywords related to your business. If you are still at the bottom or next page, you have to revisit your search engine optimization strategies to improve visibility.
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Measure Direct Sales Revenue
This is one of the most straightforward ways to measure your marketing success. Consider how much profit you generate during the implementation of the marketing campaign. If the profits exceed the marketing expenses, this is an indication that your campaign is working.
Although, it is wrong to assume that marketing is the sole reason for these sales. Evaluate the financial performance of the company so that you will know if it is still worth pursuing your marketing campaign or you should change your strategy.
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Gather Feedback
Ask the customers what they feel about your marketing efforts. One of the best ways to do this is through surveys. You can also consider conducting interviews.
To encourage people to give feedback, provide a tangible reward, such as in the form of discount coupons and freebies. Through their feedback, you can identify the weaknesses of your campaign. It will give you lessons so that you won’t commit the same mistake in the future.
To execute a successful marketing strategy, consider our suggestions above.
From measuring email open rates to conducting surveys and interviews, these things will help to identify the good and the bad about your current strategies, providing insights on how to improve in the future.
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Getting new customers costs 5-25 times as much as retaining existing ones – TheMarketingblog https://t.co/OwyY56mbJs pic.twitter.com/ljMaaFiJZS
— Will Corry (@slievemore) May 7, 2019