Evaluate your Performance Marketing Strategy in 6 Easy Steps
Performance marketing is a great strategy to create a successful and measurable digital marketing campaign. While everyone is fixated on curating viral campaigns and choosing the lowest PPC (Pay Per Click) rates for their campaign, the real challenge arises when one has to evaluate the effectiveness of the digital marketing plan.
When you know your destination and start following a route, it is possible to get lost and end up at a different place. Something similar can happen with performance marketing! Not all leads have quality, and not all viral campaigns are relevant to the audience.
So, how do you identify if your campaign is successful? How can you evaluate the campaign? What parameters do you use?
Here's your cheat sheet!
This is a crucial stage where you need to find the purpose and steps of your strategy. This can be a formative route for any campaign. You can follow the following two steps to prepare before strategising any ideas.
Set the goals and objectives
Defining goals is the first step to success. Identify your goals and milestones before starting any campaign. The best advertising agencies will help you choose the right objectives, while considering realistic timelines that will help the business.
These objectives or goals can revolve around several details from Search Engine Optimisation (SEO) to reaching a wider audience in order to expand your business. One can be as specific as possible with their objectives - like raising the number of followers by 30% in the first two months or choosing to increase sales by 10%. However, the goal needs to be tailored to the needs of the business at the moment.
Be optimistic but real
Many of us are so focused on creating a viral marketing campaign, we fail to notice the loopholes. Hence, while anything can be your goal, you need to ensure that it is measurable and attainable in the chosen timeframe. This rule will help you bridge the gap between expectations and reality post campaign, and eventually reap better results.
Based on the first two steps, you can draw your entire campaign and run it over a certain period. The best part of creating a digital campaign is the fact that you get real time results and have the autonomy to make changes in the strategy wherever necessary. Now here are a few things you need to consider during and post campaigns to improve your digital marketing ROI.
Keep a track on the brand voice
Once you take your campaign live, you need to ensure that all of your brand communication (tone, language, visuals, etc.) remains consistent throughout the campaign.
(Source: Bailey Brand Consulting)
You also need to check the statistics of brand voice in terms of its advertising share. Compare how your brand is working against the competitor and its advertisements. From feedback surveys to analytics, there are several platforms to help you gather valuable data for your brand and its campaign. This data itself can act as a skeleton for your next campaign. Once you start gathering data, ensure to incorporate it in your strategies.
Quality over quantity
When it comes to performance marketing, any good marketing agency will suggest you to focus on lead generation. However, the question is about the quality of the leads generated. Having 100 qualitative leads is better than generating 500 leads with only a 10% of genuine target audience and potential buyers.
Track and visualise metrics
While you gather data from different platforms and sources, it is crucial to have an understanding of the same. The best way to understand the metrics is through visual representation of the data. This will also allow you to keep a track of the overview without having to crunch the numbers all the time.
Once you start evaluating your campaigns by following the above mentioned steps, drawing conclusions and improving strategies will be easier. In addition, continuously practicing these steps will allow you to have better comprehension while revising your strategies and performance marketing plans.
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