You might be familiar with the concept of online marketing, as it relates to marketing activities carried out online. However, if you’re a brand new to the concept, here’s a short guide to help you get started.
1. Measure The Successes Of Your Marketing Efforts
One of the primary goals of any online marketing campaign or initiative is to drive sales. This can be in the form of a sale, conversion, or getting a potential customer to take a desired action. Without a clear idea of how effective your efforts are, you’ll never be able to improve upon them.
In order to measure the effectiveness of your online marketing efforts, you’ll need to set up automated systems to track these numbers. One of the simplest and most effective ways to do this is with a marketing analytics tool. The data these tools collect allows you to easily identify which strategies work best for your product and establish new campaigns based on these findings.
2. Form A Team
An important step in putting together a successful online marketing campaign is to identify the talents and skills of the people you’ll work with. As a general rule of thumb, you want to ensure you have people on your team that have extensive experience in multiple areas.
Your digital marketing team will likely include people with expertise in marketing analytics, strategy, content, and design. In addition, you’ll want someone to take care of the technical aspects of your campaigns, such as web hosting, email marketing, and SEO.
By bringing these individuals with different areas of expertise together, you’ll be able to create compelling content that will effectively reach your target audience.
3. Test Promotional Strategies
Once you’ve established the foundations of your online marketing campaign with a clear idea of how to measure its success, you can begin to experiment with different promotional strategies. This is especially important if you’re looking to maximize the effectiveness of your campaign and want to determine which strategies work best for your product. One of the best things about digital marketing is its ability to test various strategies and find out which ones work best for your product.
There are four basic steps you’ll need to follow in order to test different promotional strategies.
- Set up a test group (or multiple test groups) to experiment with different approaches
- Determine how you’ll measure the results of your tests (i.e., which test group is responsible for the increase in sales)
- Analyze the results of your tests
- Determine which strategy worked best for your product (and why)
Once you’ve got your test groups set up, you can begin to experiment with different promotional strategies. Keep in mind that the first step in any testing protocol is to set up a control group. This is a group of people that you’ll continue to promote and market your product in the same way as the original group, but without the use of experimental marketing strategies. Comparison between the two groups allows you to determine the effectiveness of the different approaches used.
4. Identify The Key Performance Indicators (KPIs)
Once you’ve tested various promotional strategies and determined the most effective ones for your product, the next step is to analyze these results and identify the key performance indicators (KPIs) that allowed you to determine which marketing approaches were most effective. These will be your best bet for measuring the success of your online marketing efforts, and they allow you to easily determine which strategies you should continue to pursue.
A good rule of thumb is to focus on the top three KPIs that allowed you to determine the effectiveness of your tests. From there, you can select three more KPIs that allow you to determine how effective your current strategy is in comparison to your original strategy. Keeping these six numbers in mind will allow you to easily compare your performance from one month to the next.
5. Review The Past Month’s Performance At Least Once A Week
A critical part of any successful online marketing campaign is reviewing the performance of your efforts at least once a week. This allows you to track your progress over time and identify any improvements you might make with your strategy. It also allows you to identify any weaknesses that might need to be addressed.
It’s important to note that your monthly or weekly marketing review is not the same as your regular review of your performance. The monthly review will include a more detailed analysis of the results from the previous month, while the weekly review will only include a summary of the previous week’s performance. This summary will only include key performance indicators (KPIs) and may not provide as much detail as the monthly review.
6. Use The Right Metrics
Your monthly reviews of your marketing efforts are a great place to start when it comes to determining which metrics you should use to measure the success of your online marketing campaign. There are four basic metrics you’ll want to consider when reviewing the performance of your campaigns.
- Unique Visitors: The total number of people who came to your website during a specific period
- Sales: Revenue generated from the sale of your product during a specific period
- Conversion Rate: The total number of people who came to your site during a specific period and converted to a sales person
- Clicks: The total number of times someone clicked on an advertisement or content piece when it was displayed
Each of these metrics has advantages and disadvantages. Unique visitors provide you with a good idea of how many people are coming to your site, but this number can be manipulated by changing the way your site is designed and how it’s promoted. In order to get a true picture of the effectiveness of your campaigns, you’ll need to consider using a combination of these four metrics.
7. Be Creative
Last but not least, we have some good news for you — you’re finally going to get a chance to be creative. After months of planning and reviewing your performance, you’re finally going to get a chance to implement your ideas and dream up innovative campaigns that will help you grow your business. This is one of the primary reasons you entered the online marketing world — to be able to be creative and use your talents to the best of your ability.
Doing business online is different from doing business offline. You’ll need to look at everything from a different perspective and find new ways to effectively reach your audience. While this might seem daunting, you’ll have the opportunity to work with experts that can help you achieve your goals.