Running a digital marketing campaign is not easy. The success of these campaigns is not measured by how much money you spend, but by how many customers end up buying from your brand. It’s easy to spend a lot of money on digital marketing and see little in return. There are many reasons digital marketing campaigns might not succeed. Ultimately, businesses must avoid blowing money doing the wrong things.
Most new companies end up spending money on ad channels without understanding whether these channels can generate any returns, according to veteran marketer Primal. While marketers find new ways to attract customers, similar effort should be spent on finding out how successful these different tactics actually are. Here is a list of ways to find out whether the digital marketing campaign your business runs is actually effective:
Measure Conversions, Not Traffic
Never, ever judge a marketing campaign by how much traffic it generates to the company website. Traffic can come in droves. What really matters is the conversion rate. If ten thousand users visit your site monthly, that’s good in terms of traffic. But if only one or two people actually end up purchasing the product you are selling, that’s a terrible conversion number. This indicates a faulty marketing strategy. Perhaps your campaign is too focused on driving traffic it’s not targeting the right audience. Therefore, always measure success of the campaign in terms of conversions and leads relative to traffic, not traffic numbers alone.
Count the Number of Email Subscribers
The number of people subscribing to your email list should grow as your site matures. Customers who subscribe to an email list indicate a very strong interest in your business. Therefore, keep an eye on how many people end up on the emailing list. The number should not dwindle, but grow. If the number is dwindling, you should immediately figure out what’s keeping people from signing up. It could be a marketing issue, a site design issue, or something else.
Collect Customer Feedback
Do collect and analyze customer feedback to find out how effective your advertising efforts had been. You can directly ask customers about particular marketing practices and get their feedback. Customer feedback also provides highly valuable data for perfecting your brand message and overall marketing strategy. Therefore, make this a vital part of gathering data.
Evaluate ROI for Each Advertising Channel
You should have your marketing team individually calculate the returns generated by each advertising channel your company has spent money on. It’s the only way to know if you are just spending money on a channel that is simply not resonating with your target customer base. This is a vital component of any marketing plan. Calculating ROI will tell you if your business is spending money where it should.
Are Customers Taking Advantage of Incentives?
Are incentives parts of your marketing plan, and are customers actually taking advantage? If they are, then your campaign is on the way to success. Incentives should be a part of your marketing plan to generate leads. If not, it’s important to analyze why customers may not want incentives like discounts or free gifts.
The above suggestions should help your company understand whether the marketing campaign is being as successful as it should. If not, it’s important to take a step back and do a self-evaluation.