Companies both small and big have access to the world’s most influential marketing tool: the internet. The web helps level the playing field, giving advantages to companies who know how to use it. A small business with a tiny marketing budget but a smart and well targeted campaign can outshine its much wealthier competitor.
The average business spends 12-13% of their revenue on marketing. A single marketing campaign can influence millions of people around the world and, if done effectively, you can see a significant ROI from that campaign.
But how do you measure if your marketing campaign is successful? What qualitative and quantitative data do you need to determine whether or not the value of money and time that you spent on this campaign was worth it? Here are 6 ways to determine just that.
Goal Setting for Your Successful Marketing Campaign
Before launching your successful marketing campaign, create a list of goals for yourself or with your team. How many impressions are you looking to make, and how many leads would you like to generate? Are you looking for an increase in revenue, and if so, by how much?
Make sure that you are setting tangible, attainable goals for yourself. Keep your expectations high, but be realistic. First-time actors aren’t expecting to win an Oscar. They’re just hoping to land a second, slightly better, gig. Your measurement of success should be in terms of you, not Apple, Starbucks, or Walmart. With a list of tangible goals in mind, it’s time to check out your quantitative data.
Keywords and Domain Ranking
You can use Google Analytics or any comparable search engine marketing tool to analyze your site’s traffic to determine where you were before and after the campaign. There are four different kinds of web traffic: organic, social, referral, and direct.
- Organic traffic comes from unpaid listing on search engines and directories, like when you type keywords into a search bar, and a link comes up.
- Social traffic refers to traffic coming from your social media platforms or networks.
- Referral traffic is measured by link building, or when someone visits your site after being on a different site.
- Direct traffic is most commonly the result of someone physically typing in the URL to your site, or by clicking an untagged link from an email or on a Word or PDF document.
Analyzing the web traffic you had before and after a marketing campaign will show you how influential your campaign was on all four of these different avenues. You can also input your domain and see the total change in traffic, which will further help you in measuring your success.
Further Analyzing Web Traffic
Google Analytics also allows you to figure out how many new and return visitors you have, and also lets you track your visitors by demographic.
You can track new vs. returning visitors under the audience > behavior tab on Google Analytics. This information won’t be 100% accurate because the same new user can access your site on their mobile device, laptop, and tablet (and if they clear their cookies they are considered a new user again), but it’s a helpful source to determine if your marketing campaign is influencing new people. Return visitors, of course, are people who have already accessed your site and are browsing it again.
New users can you help determine if your social and referral traffic is working. Odds are that most of your new users are coming from one of those two sources. If you don’t see a sizable increase in new user traffic, you will want to rethink your marketing strategy for future campaigns.
You can also find demographics under the audience tab. This allows you to determine traffic based on the information the users have put on the internet, such as age, gender, and location. All of these can be important, depending on which demographics your campaign is looking to influence.
Built links and inbound links are measured on Moz’s link explorer. The number and quality of links that you have will increase your domain authority score, making it easier for people to find you organically.
An off-site content strategy can play a significant role in your marketing campaign. According to Forbes, any link you embed in your content will pass authority to your site. Using Moz’s link explorer, you can determine how many links you’ve built and how effective they are.
Inbound links are also relevant. The more your site is linked as a point of reference, the higher your domain authority will rise. Moz’s link explorer allows you to see a site’s influence, the inbound links to a page, as well as several other analytics that could be useful in your marketing campaign.
Aside from gaining social traffic to your site, social media offers several other ways to analyze the effectiveness of a marketing campaign. You can track the number of new followers you acquired on Facebook, Twitter, and other platforms. You can also see the number of likes, shares, and comments, as well as what posts or statements were liked, shared, and commented on.
Social media traffic also allows you to determine how many new email and website subscribers you have after running a campaign. All of this information will be useful when you decide whether or not you ran a successful marketing campaign.
Value of Time and Money
The final way to analyze a marketing campaign is by figuring out how much time and money you spent on it, and whether or not it was worth it. Keep a spreadsheet that lists all of your advertising costs, including labor, to get an estimate of how much the campaign actually cost compared to what was budgeted. Keeping track of time, specifically, can offer unique insights. What other projects or opportunities could you have been exploring instead of working on a marketing campaign?
Upon its conclusion, while you’re analyzing your links, web traffic, social media, keywords, and domain authority, use this spreadsheet and compare it with the results. Not only should you be able to determine your quantitative and, to an extent, your qualitative ROI, but you can also compare it against your initial goal and decide whether or not you ran a successful marketing campaign.
The Importance of Marketing Campaigns
Businesses that don’t market themselves get lost in the Google algorithm abyss. Your campaigns won’t always be as lucrative or as rewarding as you want them to be. However, with each attempt, you’ll have a better understanding of how to improve and prepare for future campaigns, and if your marketing campaign ever starts to gain on a larger, more profitable competitor’s you know you’re on the right track.
How do you measure your marketing campaigns, and what has worked for you in the past? Leave a comment below.