Is Your Marketing Contributing To Your Business Goals?

It’s the big question on every business owner’s mind: Is my marketing working?

In digital marketing, there are an endless number of metrics and numbers you can get caught up in. Many metrics can give you a feeling that you’re doing well and that your ads are being seen, but if they’re not leading to action from customers, they may not be as helpful as you think.

Let’s take a deeper look at marketing metrics and get a better understanding of what you need to know to ensure your efforts are moving the needle.

SETTING THE RIGHT GOAL

By focusing on achievable goals and outcomes for your campaigns, you can ensure that your digital marketing efforts are working. When setting a new campaign, identify the most important conversions you want your audience to take.

Every business is different, so defining what success looks like for you and your campaigns is a critical first step. For example, success for a credit union may look like more loan applications or sign-ups to open a savings account, while a contractor may be looking for more bookings or people interested in a specific service they want to expand into, like roofing or waterproofing.

When you shift your focus and clearly define what campaign success looks like, you move away from the mindset of activity to action. You stop focusing on how many people looked at your ad and start focusing on how many people are engaging and taking the next step.

When you anchor your marketing strategy in goals and actions, you can see measurable success (that means ROI)!

ACTIVITY VS. ACTION

Clicks, impressions, reactions, and views are all important metrics, but just because your ads are being seen doesn’t mean that they’re working. What happens after someone clicks your ad or reads your post matters! If someone isn’t scheduling an appointment, making a purchase, or signing up to learn more, then you may need to make adjustments.

Click-through rates are a crucial way to measure whether your ads are being seen by the right people who are willing to take the next step. Pay attention to the clicks and impressions you’re seeing. They’re key parts of your customer’s journey, but not the end! Digging into what happens next and whether it meets your goal will provide the information you need to decide if you need to adjust your campaigns.

Actions taken by customers can include things like:

• Requests for quotes
• Purchases
• Email newsletter sign-ups
• Form fills

Your reporting should tell the story of who is seeing your campaigns and if they are effectively driving them to action.

Starting with a clear campaign goal in mind can help you better analyse your metrics and understand the effectiveness of your marketing. By paying attention to the actions your customers take beyond the activity you’re seeing — like clicks and impressions — you can get a better sense of campaign performance.

MAKE SMARTER DECISIONS WITH REPORTING

Ultimately, the data you get for your marketing campaigns is only as useful if you do something with it.

Reporting is more than just a box to be checked off; it’s a critical part of understanding your campaigns and whether your efforts are contributing to your business goals. Your reporting should act like a feedback loop, where you continually analyse your results and improve your strategy.

Analyzing where your audience is taking action helps you stop guessing if your campaigns are working and start making changes that drive results.

While reviewing reporting, ask yourself a few key questions:

• What trends are we seeing?
• Which strategies are working and which are not?
• Do we need to realign the budget to more effective strategies?

Do you need a digital marketing partner that understands the dynamics of digital marketing metrics and reporting? Federated Digital Solutions can help you make sense of your data and make more informed decisions that help move the needle for your business. Contact us today to learn how we can help you maximize your ROI!