Measuring Performance Marketing
How do you do it?
Businesses work on ROI (Return on Investment). It is important to choose the right technique to market your business to capture the right audience and boost growth for brand building. However, where marketing techniques are concerned, many make decisions without thinking about ROI.
Online marketing techniques are ever-changing and evolve quickly compared to regular marketing techniques. Hence, you need to utilise them well to optimise their full potential. If you're thinking of online communication or branding, here's how you can evaluate performance marketing:
Analytical Goals
Every campaign starts with some goals or objectives; however, not all are measurable. While goals can be different as per the brand and its requirement, it is crucial to choose analytical goals that can be evaluated with calculations.
Your goal can be something like:
Lead generation
Improved conversion rate
Engagement
Customer loyalty
Measurable ROI can be a game changer for any brand. Hence, be sure to select quantifiable goals.
(Source: Lystloc)
Analytics of Website
Whether you build your website with sites like WordPress or choose to build it with your resources, you need access to the analytics. Based on the increase or decrease in traffic, you can evaluate how well your website works to engage your audience. Observe how different environments and marketing trends work in favour of or against your brand.
Performance of Inbound Links
Inbound links will help you identify where your traffic comes from, it can help you understand ROI. If the current outsourcing is unsuccessful in bringing you qualitative leads, it's time to look for another partner.
Social Media
Performance Marketing also revolves around social media. Hence, it is crucial to understand how much traffic is generated from social media and advertisements on social media. You can evaluate traffic weekly and identify the most popular post.
Due to its short recall value, one can experiment a lot with social media. The change in the follower count can also be a parameter for determining the right campaign.
Page Rank
How well is your website ranked on the search result page by Crawler during indexing is critical. You can be at the top of a search query with relevant words while others can keep you farther or on the next page. Therefore, one needs to check how the rankings change for blogs, websites, homepages and other pages.
Get a Direct Confirmation
Modern technology enables you to connect with your audience and establish a dialogue. Hence you can directly communicate through social media or other online advertisements with your audience. You can ask them if they've heard about your brand or opt for similar surveys to get their answers.
Referrals
Referrals during online marketing are the number of people sharing or reposting your content to reach a wider audience. Check the number of shares or re-post your original post to understand if your target audience is helping you reach a wider audience.
(Source: Swift Medical)
Identify Opportunity
Any advertising agency or digital marketing agency will help you identify different marketing opportunities by optimising the budget and leveraging your brand potential.
According to the need of the campaign, you can determine which traffic to optimise. It can be a referral, direct or search traffic. Further, you can divide your budget among all types of traffic to get desired results.
Evaluating performance marketing with the parameters mentioned above will empower your brand to shine through the clutter of online marketing.
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