One of the most critical practices for Digital Marketers is to act fast to correct what’s not working in your or your clients’ campaigns as soon as a problem is apparent. In order to be on top of this, you must assess your campaign results consistently.
Whether you are investing a small or large amount of your marketing budget to drive revenue through digital for your business, you must pay attention to the value of your results. There may be data made up of likes, engagement, or followers, but in most cases, you want to also see an increase in top-line revenue and the acquisition of long-term customers.
Although digital marketing is data-driven, it’s always tricky to connect the dots and find out your real return on investment to justify your spending.
That’s why I focus on Agility! And recommend a quarterly analysis of not just the digital marketing results but of digital marketing’s outcome reflected on your sales pipeline.
The exercise to connect the dots between marketing activity and sales output may look something like this:
First – You review the data from all DM campaigns – Consolidate and analyze the results from SEO, Ads, social media, email, or any other online marketing activity. Get the exact numbers and related values for the first quarter of 2022.
Second – Check your Google Analytics dashboard to match the accuracy of the results.
After that – Ask the sales team to share the report of new customer acquisition during the last quarter. Can you attribute the success of those customers to digital marketing activity? (This is not straightforward and will vary as per the nature of your business). Attribution models have gone through tremendous change with the use of multiple customer touch points. But if you have the right tracking parameters in place, you should be able to trace the customer journey.
Next – Create a report of Leads/prospects in your Leads funnel. Identify the potential revenue in the near future.
Things go wrong from time to time – the key is to identify any problem early on and act speedily and creatively in fixing the issues – be it wrong creative, incorrect audience targeting, or just mismanagement of the campaign. If you consistently monitor your campaigns and are prepared to take action, you’ll have better outcomes.
Follow the steps: Gather insights, Assess and analyze information and when action is needed – take it fast to get back on track!
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