Marketing Strategy: How to Measure Success

 

We spend a lot of time on researching our marketing strategies.  We want to make sure we have the best strategy possible so we can see our businesses succeed.  However, it will always benefit you to go back and see how your current marketing strategy is working.  There may be a section that isn’t performing as well as it could be, or you see sales begin to stagnant or decline.  Make sure you take the time to review your strategy every quarter will guarantee it is always working for you.

Not sure how to go about measuring the success of your marketing strategy?  Check out the areas you can look at to see how it stacks up.

Content Data

Your content should always be at its best.  Make sure you are using the right keywords for your business industry, or niche, to make sure your content gets in front of more eyes.  Many times, the keywords you started with may not be the ones that work for your content months down the road.  If you notice your traffic goes down, check your keyword performance.

How are your Call-to-Actions working for you?  Take a look at several months of conversion rates through your content.  If you rates stay the same or have declined, it’s time to rethink your Call-to-Action and if it’s easy for visitors to inquire or sign up with you.

Cost Data

Do you find you are spending more to get those clicks than before?  Then it’s time to check out several months of data to compare and see what worked and what didn’t.  You want your money to go a long way, so look at the metrics and see where you can get more clicks for less.

Take a look at your Cost per Acquisition.  This is the money you spend to get that visitor to become a customer.  How much are you spending to acquire them compared to how much they spend at your store?  If you find you are spending more money than you are profiting off of new customers, it’s time to revisit your strategy.

Performance Data

Take a look at your conversion rate.  This is taking the number of visitors divided by the number of sales you have in one month.  This will come out to a percentage.  Conversion rates help you see where your website or marketing strategy is doing well and failing.  You can see where your weaknesses are and fix them.  Once you tweak the issues, come back and see if your conversion rate has gotten better, or worse.  You want to have a high percentage in order to see profits.

This is also a great time to look at Click Through Rate.  Most social media websites can calculate this into a percentage.  Again, we want a high percentage number.  If you are seeing very few click throughs with high visitor totals, you might want to look at changing some things with your Call-to-Actions.

These are just a few areas to look into when measuring the success of a marketing strategy.  Want to know more about measuring your business and website success?  Contact us today!  We are happy to help you onto the road to success.

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