Evaluating your marketing strategy is essential for ensuring increased growth and success. It allows you to weed out the marketing strategies that aren’t bringing in results and focus on the ones that are.
Without regular evaluation, you may continue spending unnecessary money on advertising campaigns that aren’t doing you any good.
What Marketing Tactics Are You Using?
Before you can evaluate the success of your overall marketing strategy and plan, you must have a clear and organized view of the different tactics you have been using so far. This way, you can evaluate their individual success rates using hard data and metrics.
Are you using paid social media or search engine ads? Are you spending money to collect leads and subscribers so you can send them emails? Or is your focus organic search engine optimization and social media growth?
What are your goals with each strategy? Without having clear goals, it’s impossible to measure your success. Too many businesses blindly jump from one marketing tactic to another without having defined end results in mind. An agency can help you figure out what your goals should be and supplement your marketing team by providing guidance and expert advice.
How Can You Tell What’s Working and Prove ROI?
In order to tell if your marketing strategy is working or not, there are a number of things that must be taken into account. We use HubSpot to help gather and present the following data.
KPIs or Key Performance Indicators, allow you to measure the success of a marketing campaign. When your sales or profit have been shooting up, you will be able to see clear results. However, KPIs are not limited to that.
Here are some examples of Key Performance Indicators that let you measure a campaign’s success:
- Sales by Region
- Customer Lifetime Value
- Customer Acquisition Cost
- Net Promoter Score
- Likes and Followers on Social Media
- PPC Cost-Per-Click
- Website Visitor Volume
- Conversion Rates
You must have clear goals for each KPI. You can aim to reach a certain conversion rate, CPC, website visitor volume, or amount of Twitter followers within a certain time frame. By comparing your actual performance to the KPI goals you set, you can see if you are on the track to success.
KPIs are worthless if you cannot track a lead or sale to the marketing tactic that caused it. Reap + Sow can help you figure out which marketing strategies and advertising campaigns are bringing in leads and sales. Once you have a view of the big picture and know where the majority of leads and sales are coming from, you can stop expending any effort on the marketing campaigns that are bringing in only a small percentage of the results.
An important part of measuring your overall success is checking in on your customers. Customer satisfaction is essential for the success of your business. You can take online or in-person surveys to determine whether you are reaching customers’ expectations. By listening to their feedback, you can find out how you can improve.
Reap + Sow can look at things such as Net Promoter Score. This is a metric that determines how likely customers are to recommend you to their family, friends, and acquaintances. A good Net Promoter Score means that customers are satisfied with your business and can predict future business growth.
Who Should You Partner With For the Best Marketing Strategy?
To get the most out of your marketing budget, it is crucial to partner with an agency that has years of marketing experience and knows what works and what doesn’t. We are trusted by major companies such as ExamSoft, Corrigo, and Bluware and are confident that we can understand your offer and present you to consumers in the best light. We take a results-driven approach to help you reach and exceed your marketing goals.
Contact us today to take the first steps towards success.