Tuesday, November 18, 2008

How Do You Measure the Success of a Campaign?

With a plethora of affordable options open to marketers these days, there is certainly no excuse to cut all marketing activities. And it has never been easier to measure the effectiveness and track customer responses. Here are some basic guidelines: 1. Set some guidelines What are you hoping to achieve once a potential customer lands on your page? Obviously the desired end result is a transaction, but capturing some participation also has a value in terms of future offers and communications, and even brand building. This is establishing a Success Metric so remember to have a call to action such as registering for future offers. 2. What’s it worth to you? There’s always a cost involved in converting a visitor to a sale. Set some realistic expectations and budgets i.e. what is the action worth to you? 3. Gathering data and trends Google Analytics is an excellent tool providing significant angles to slice and dice the tracking data. However, don’t forget the powerful use of a promotion code in tracking exactly what your prospect does and when. Try and conduct your tests one at a time to fully understand what works and what doesn’t. Multiple and simultaneous promotions create confusion in terms of analysis thus loosing the opportunity to establish some key metrics. 4. Don’t get overwhelmed Today, there is so much data that one can get paralyzed. You can measure everything down to the individual, but ask yourself if it’s necessary. Start by obtaining an overall picture and monitoring the changes to be able to spot a trend. Getting the whole picture will enable you to hone in and refine later. 5. The new digital era marketing is not so different 'Test and measure' used to be the mantra of good marketers. It just used to take a lot longer with direct mail and cost significantly more. With today’s web marketing opportunities, never has it been easier to try, test, learn, adjust and change in days instead of months. In a down economy, expect to react to changes; monitor your market, know your customer because their buying patterns also change much more than in good times. To stay ahead of the competition you must hone in on these minor changes and create campaigns accordingly. Got a comment, post here or email me at businessissuestoday@gmail.com

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