Running ads and campaigns is one part of your marketing efforts to reach the maximum target audience. All could go waste if you do not gather the relevant information. Relevant, here, implies what is working and what is not. For example, if Spectrum introduces Spectrum Internet plans, the company will also have to keep track of whether it was a good decision or not.
Here are some easy ways in which you can measure your marketing efforts:
Conducting an Internal Audit
Before beginning with an audit, you need to identify the departments relevant to marketing. You need the data from these departments. Next comes the real challenge- getting the data from them. After getting access to the data, you can make effective strategies for the future. After that, comes the most cumbersome part- the analysis. You will have to make sense of the data you collect after tireless efforts.
After conducting an in-depth analysis, you will understand the touchpoints that you should alter. Leave the rest as it is.
Developing your KPIs based on this thorough analysis will be the best decision. However, you can always make changes along the way.
You should pay more attention to certain values than the others. Many marketers often go with vanity metrics. In my opinion, that is the wrong approach. Vanity metrics can often be misleading. Because they do not include much insight. If you want to keep a track of metrics that matter, focus on the lead value.
Here you need to understand that assigning a value to leads is different for different businesses. For example, a spa might use the cost of an appointment as its lead value. Whereas a subscription-based company may use CLV as its lead value. So, there is no single rule for all.
You would want to consider the channels and advertisement types that generate high lead values for your business. Only then you can come up with profitable strategies for the future.
Develop Content Strategy
It is essential for you to develop your content strategy. It will allow you to attract more audience. Make sure that you come up with original and interesting content every time. Copied content interests no one. Also, it should be related to your business. For example, a furniture company posting about women clothing would be obnoxious.
You will have to work hard to create unique content strategy. Most companies hire specialists that help them to develop one. While doing so, they keep in mind the target audience. Everything that resonates with them is considered good content. Because it is the audience that you are producing content for. If they do not find your blogs or posts engaging, you will suffer a great loss. In case that happens, you won’t be able to argue regarding the quality of your content. If it fails to entertain, the uniqueness and quality won’t matter. Hence, be as relevant as possible.
Integration of the Right Tools
If you think that all analytical tools provide the same level of information, you are wrong. Some tools are better than others. Because some of them will give you access to more data. Hence, allowing you to make a well-informed decision. Do not get impressed by the fancy graphs and pie charts that a tool offers. Have a look at the information that it is providing. If that data does not contain information as per your KPIs, reconsider. DO NOT waste money on software that does not provide the needed information. Broaden your search and look for one that gives you the relevant information.
Remember that a tool that works wonders for one company might not for the other. Thus, sometimes making it useless to get suggestions from friends. Have a thorough look at all the information that a tool provides before you invest in it.
For this, you will have to contact an expert that has in-depth knowledge about the tool you want. He or she can guide you well. As part of the support service analysis, a friend of mine working for a telco dialed Spectrum phone number and asked customer service rep about the tool that they use for analysis. The same tool that was working for them did not work for him. So it is recommended to expand your knowledge before using any tools or strategies.