How to Measure Overall Marketing Performance for All Campaigns
For most companies, marketing expenditures are the most crucial investments they would purchase. It is, therefore, necessary to analyze and measure the progress in regards to the return of investments from marketing campaigns. Many individuals make the common mistake of leveling their marketing performance in regards to their sales figures. There is more to marketing than just creating immediate sales. This brings us to our most important question- How can you measure your overall marketing performance?
Degree of Engagement
Just because your consumers didn’t purchase your products or services doesn’t mean that your marketing campaigns were ineffective. The smartest move would be to analyze how much engagement your campaign received from potential customers. High engagement says that you created a long lasting impression on people who might just come back for more. Wondering how you can achieve this? Here is how to go about it
Under email marketing, there are usually three statistics that you have to follow through to identify consumer engagement. Such include unsubscribes, clicks and opens
Openings- If you have a high opening rate on your emails, your definitely heading in the right direction! This means that your emails are well crafted enough to convince the consumers to open them. Head on back to your drawing board if your open rates are pretty low. Try and revisit what could be affecting it.
Click rates- Are customer taking any action after reading your emails?
Unsubscribes- It is pretty salty to see unsubscribes. However, they’ll always be there. Identify the main reasons why people are unsubscribing from your newsletters and emails.
2. Social Platforms Engagement
Various social media platforms provide different forms of user engagements. It may be in the form of retweets, comments or shares. Nonetheless, identifying your marketing performance on social media is measured by how much you trend over time.
Evaluation of the “search” performance
Thanks to googling analytics, you can easily measure traffic and other significant data that related to your websites or marketing campaigns. Such measurement metrics include pay per clicks ads and SEO position.
Total Sales and Conversions
Ideally, we can’t ignore the fact that marketing performances are linked to generating sales and conversions. How many individuals did the marketing efforts reach and attract in addition to the people who were convinced to purchase services and products? You should evaluate how your marketing campaigns influenced this variable. Was there a notable increase or decrease?
However, take note that while other marketing campaigns may result to direct sales, others may also significantly impact your brand presence. Deeply analyze the metrics that result in the highest returns on your investments.
This is the type of traffic that originates from other sites to your website. It mostly originates from social media posts or other inbound links. Google analytics provide comprehensive information on to where all your referall comes from to identify the source of traffic.
Calculate the various changes that take place on your different marketing channels on a monthly basis. This will help you to track the progress from your organic traffic.