If you’re reading this, I assume you’re either an agency marketer or someone who understands the ins and outs of running a marketing agency. Congratulations, you’re in the right place! In today’s fast-paced world, it can be difficult to stay on top of marketing trends. How do I know what’s hot and what works? That’s what we’re here for! From understanding what is driving consumer behavior to converting that knowledge into marketing success, we’re going to walk you through everything you need to know.
The Evolving Landscape Of Marketing
Traditional marketing methods evolved with the timescale of a decade or more. It was assumed that the role of marketers would stay the same but, with the changing world, this isn’t the case. In the past, marketing was considered a ‘funeral rite’ – a necessary evil to be endured while products were immersed in, and analysed by, the data scientists of Google Analytics.
This view undoubtedly changed with the advent of social media. When companies realised that their customers were already residing in these spaces, their world changed. Suddenly, marketing could be fun again. Companies loved the fact that their customers were willing to engage with them and, in turn, learn about their products and services. Marketers could finally see the results of their efforts and, as a bonus, were able to observe the effects of their campaigns in real time. What’s more, social media allowed marketers to establish direct conversations with potential and existing customers. At the time, this was seen as a massive game-changer.
Why Are Agencies Different?
Although the evolution of social media changed the landscape of marketing for good, it also presented some challenges. Namely, how do I measure the success of my marketing efforts? Without a clear metric to show for my efforts, how can I hope to convince my boss that my strategy is worth implementing?
The short answer is, you can’t. It’s all very well having a ‘Plan B’ for marketing, but if you don’t show any results, then it’s very difficult to justify the extra costs of implementing Plan B.
Emerging Technologies To Help Marketers Achieve More
To solve this problem, businesses looked to emerging technologies for inspiration. What they needed was a way to gauge the success of their campaigns. This desire turned into hope as they found a solution in the form of web analytics. For those seeking the perfect Plan B, web analytics provided the answer with the potential to measure the results of their campaigns in real time. Web analytics doesn’t measure everything, but it does provide a good overview of website traffic which can, in turn, be leveraged to determine the effectiveness of a particular marketing campaign. Once determined, this information can be used to refine and optimise future campaigns. Small businesses in particular found that this was a significant source of insight. Thanks to the technology, they were finally able to prove the value of their efforts to those responsible for investment and procurement. This, in turn, helped secure future funding and, eventually, become profitable.
The Rise Of Marketing Analytics
If you take a step back and consider the role that digital marketing has to play in the grand scheme of things, it’s easy to see how emerging technologies helped businesses overcome the ‘vanity metric’ of simply looking at website traffic. Thanks to metrics such as event ticket sales, web analytics provided businesses with a clear way to measure their marketing efforts. This, in turn, enabled business owners to understand the true ROI of their marketing investments. The ability to determine accurate and meaningful conversion rates from one campaign to the next was a significant milestone in the evolution of marketing. Suddenly, marketing became a bit more than a ‘funeral rite’ and business owners could see the results of their efforts in real time.
Measuring The Effectiveness Of A Marketing Campaign – The Grand Tour
So you want to measure the effectiveness of a marketing campaign. Easy enough, right? You’re going to set up a simple test with a small group of users and track whether or not they convert (i.e. become a paying customer) after engaging with one of your marketing messages. With a bit of time and a little bit of resource, you can have a measurable result that demonstrates the value of your efforts. This is the theory, anyway.
In practice, things aren’t quite that simple. In order to get the most accurate results, you’re going to have to make a few key decisions. Firstly, you’re going to need to decide how best to approach reaching your target audience. That is, you’re going to decide which channel or tactic is going to be used to attract users to your website. Once you have that decision made, you can start to consider the second decision – what are you going to do after getting them to your site? That is, are you going to convert them into paying customers or just gain more knowledge about your target audience?
Setting Up The Test
To set up your test, you’re going to need to consider how you want to approach reaching your target audience. That is, do you want to use a digital channel such as social media or email marketing, or do you want to go the old-fashioned route and use traditional marketing methods? One of the great things about setting up a test is that you can use whatever method you want for reaching your target audience. In fact, you can set up automated emails (i.e. drip campaigns) to send out to your target audience. Another option is to set up a pop-up on your site, which, when clicked, takes the user to the contact page. Essentially, the choice is yours but there are a few things you should keep in mind.
Where Should You Measure The Effectiveness Of Your Campaign?
Firstly, it is essential to consider where you are going to measure the effectiveness of your campaign. This may seem obvious but, in practice, it’s something that many businesses struggle with. Once you have your target audience, you need to decide which one of their properties (e.g. mobile phone, laptop, tablet) you are going to use to measure the effectiveness of your campaign.
Ideally, you want to measure the effectiveness of your campaign on the channel or device that you used to attract the desired audience. For example, if you’ve been using Facebook ads to target people based on interest in your product or service, the best place to measure the effectiveness of that campaign is on Facebook itself. This is because Facebook is the biggest, if not the only, social media platform which allows you to track the effect of your ads. Alternatively, you could use Google Analytics to track website traffic and determine the reach of your social media posts.
What Should You Track To Determine The Effectiveness Of Your Campaign?
Once you have your target audience, you need to decide what you are going to track to determine the effectiveness of your campaign. This varies based on the method that you used to attract the desired audience. For example, if you used Facebook ads, you’ll want to track likes, shares, and comments to see the effect of your campaign. Alternatively, if you used SEO to attract the desired audience, you’ll want to track both ranking and traffic to see the results of your efforts.
If you are measuring the effectiveness of a digital marketing campaign, you are probably going to want to track some kind of conversion or click-through to determine the value of your efforts. For example, if you set up a pop-up on your site which, when clicked, takes the user to a purchase page, you can measure the effectiveness of that campaign by looking at the number of people who visited the site but didn’t make a purchase compared to the number of people who did make a purchase. Essentially, you are looking for the ‘conversion’ rate from one of your marketing tactics to another. For example, if you set up a pop-up on your site and that pop-up prompts the user to subscribe to your email list, you can measure the effectiveness of that campaign by looking at the number of people who visited the site but didn’t make a purchase compared to the number of people who did make a purchase and followed up by subscribing to your email list.
How Long Should You Track For?
Once you have your target audience (whether they are existing customers or people who you’ve attracted with your marketing efforts) you need to decide how long you are going to track the results of your campaign. You can set up automated emails to send out to your target audience regularly or, alternatively, wait a few weeks or months before measuring the results of your campaign.