You can be on your way to measuring marketing success in three easy steps.
By Robb Begg
It is a three-step process to measuring and driving marketing success in your business.
Most marketers know how to create a digital plan and launch a Facebook page, but many still have trouble tracking results.
One of my biggest pet peeves is marketers who spread lies by saying social media cannot be measured. Or worst, it’s the marketers who say there is no ROI on social media and digital is just something you have to do! In reality, all it takes is a bit of planning, some strategic thinking and a commitment to accountability. You can achieve marketing success.
You can use the following three-step process to ensure that you’re able to measure the success of your marketing initiatives and reach marketing success. This process doesn’t get into the weeds of what exactly you should measure because it’s different for everyone. It does give you the foundation of what the best marketers are doing to measure and optimize for marketing success.
The goal of this post is to help you understand the process and the thinking you need to take if you’re looking to achieve measurable success for marketing success.
1. Start With Smart Marketing Success Goals
Don’t make the mistake of confusing business goals with digital goals. Business goals are where everything starts. It’s the reason why you’re using social media, it’s the reason you’re creating content and it’s the reason you want to do marketing in the first place.
The typical business goal starts with something along the lines of this:
- Increase Brand Engagement On Twitter
At first glance this might sound great, but don’t fall for it as you start thinking about your marketing success initiatives.
As a digital marketer, you need to hold yourself to a higher standard since the entire industry is built on accountability. One of the most tried and tested approaches to developing goals that work is the SMART system:
Specific, Measurable, Attainable, Relevant and Time Based
This approach would improve the goal above to be something along the lines of this:
Increase The Click Through Rate (CTR) On Tweets by 20% by the end of Q4
How did we come up with this marketing success formula?
Let’s break out the SMART formula and check it out:
Specific: Increase Twitter CTR by 20%
Measurable: Previous and Future CTR
Attainable: With the right strategy it is
Relevant: More clicks = More engaged following
Time-Based: We have twelve months to achieve this goal
Now this is a marketing success goal you can be proud of and one that you can hold your team accountable to. Again, this might not be the right goal for you but it’s this thinking that will help you ensure that your marketing success efforts can actually be measured.
2. Monitor Key Performance Indicators & Trends
If you’re going to launch a marketing success initiative, you have to track the ongoing success. It’s not enough just to launch, you also need to be studying the data as it comes in. You need to be monitoring your results, as they happen to ensure that the strategy you’re implementing is the right one and performing based on the goals you’ve identified.
A few months ago, I was working on a project where the goal was to drive an increase in awareness. The company was promoting their blog content using Facebook and was finding great results in terms of engagement and traffic. Over time, the results started to slow down and the brand was unsure why this would happen. After a quick glance at Facebook Insights, Google Analytics and comments on the blog, it became obvious that the target audience was becoming content fatigued. As a result, we swapped the content for a new post, ensured that more content would be delivered more regularly and their engagement got back on track.
The only way that you can identify trends and opportunities is to keep an eye on analytics and insights. Data can help identify holes in your marketing funnel and highlight opportunities you may have missed. As you think about your goals, identify key performance indicators like comments, shares, visits and downloads to monitor how close you are to achieving your goals. It’s these indicators that will show you whether or not your efforts are effective or on life support.
3. React Quickly & Strategically To Intelligence
As you execute your marketing success initiatives, things will change. It’s important that you and your team are on deck to react quickly and strategically to the insight delivered from your data. It’s great to collect data but it’s always better to use it to make smart decisions.
It’s important to leverage insights to make strategic adjustments that can help drive results that link back to your SMART goals. If you can do that, you’ll be able to drive real results for your business and clearly see the ROI.
About the Author
As Introhive’s CMO, Rob Begg is responsible for making sure sales has the leads, tools, and awareness needed for success. Prior to joining Introhive, Rob was vice president of product marketing for salesforce’s Marketing Cloud. With almost two decades’ and five start-ups’ worth of marketing and sales enablement experience, Rob is often sought to speak and comment on social, content, and online marketing in high-growth business. https://www.introhive.com