How To Tell If Your Marketing Efforts Are Working Out?
Your marketing strategy must begin with knowing what your ultimate goal is since you'll focus on different metrics if you're trying to improve your brand awareness versus generating leads, for example.
If your goal is lead generation, let me share with you the meaning of utm (Urchin Tracking Module). Although it might seem confusing, they are just short pieces of code that you can add to your links for example your landing page or main website's link with the purpose of making it easier to track clicks, traffic, and leads from a specific social media post or campaign.
Your CRM database will then keep track of the generated lead along with several metrics, such as date, location, and the lead source. Then you can determine which leads were generated from specific campaigns and determine the most effective ones.
If your strategy is focused on brand awareness the measures to keep in mind are quite different. To determine the impact of marketing on a brand, use a benchmark before and after the campaign, and compare the results to see if the marketing strategy was effective.
In order to inform future growth predictions, we aim to measure the changes over time on metrics such as reach, awareness, engagement, brand affinity, purchase intent, and sales.
Measure all possible metrics across your social channels before and after the campaigns. These might include:
Activities on posts for example: the engagement rate, number of clicks, impressions, views per video, likes, comments, shares, etc.
Leads (people who might be interested in becoming your client).
Sales (revenue and the number of sales).
Also, you could launch a free brand awareness survey (3 to 5 multiple choice questions) to see how recognizable your brand is, if your audience knows about your services and how is your brand being perceived to them.
Before beginning any marketing campaign, define all the above points in order to determine your measurement strategy so you can track the results and analyze them.
You can determine the impact of your campaigns after the campaigns have run by comparing all your benchmark measurements with the post-campaign measurements.
Finally, with marketing analysis you'll be able to collect data and determine whether the campaigns for lead generation or brand awareness are being effective or if you need to consider making changes in your campaigns.
Analyzing the results is indispensable for improving the marketing strategies and obtaining valuable information about the campaign performance, the marketing trends, and the consumers behavior which are essential indicators to understand in order to succeed in your marketing efforts.
Thanks for reading!