What marketing to measure
As in the stats, the analytics, the numbers, such figures to included when measuring your marketing are:
- Google Analytics (users, sessions, hand time on pages, keywords used to find the site, bounce rate, sources of traffic to the site, which pages are popular and which are not etc).
- Social media profiles (stats per each profile) – likes, followers, reach, engagement, impressions etc.
- Email marketing – numbers on the database, send rate, open rate, click through rate etc.
- Plus measure your leads – how many do you have and where do these come from?
Plus, and this will vary depending on what marketing channels you use to market and sell your business, you may want to measure SEO activity, number of blogs, sales calls, networking events, advertising clicks, online directory listings, membership or subscription numbers and so on.
Measuring your marketing
Now you know what to measure, how can you do it? My recommendation is to firstly do this regularly eg monthly or quarterly. Monthly would be better so you can take any action swiftly where needed and to maintain the momentum. How you measure can be recorded in a simple spreadsheet or an advance spreadsheet or via your CRM system or via online software and apps. The aim is for as much as possible data entry and analysis wise to be automated and calculate/populated. The measuring and outcome of the results can be numbers based or visual or both.
Do you easily lose focus? Do you need help staying on track? Do you procrastinate a lot?
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Why measure your marketing activity and campaigns
Peter Drucker – “If you can’t measure it, you can’t manage it.”
- You will want to cross check the numbers you are measuring against your goals and KPI’s so you can gauge progress. So what are the other benefits to measuring your marketing and sales activity?
- Knowing the numbers and facts will enable you to make informed decisions, and not rely on guesswork as to what marketing to implement, when, where and how.
- You can see what is working and what isn’t, so you can plough time and money into the best channels as opposed to covering them all in a tick box way.
- You can ensure you don’t lose focus and stay on track
- And stop procrastinating and taking no action
- And finally, you can use such a report to keep yourself and your team (internal or outsourced based) accountable
What to do with the findings from your marketing report
The numbers and graphs should mainly be used for making improvements in your business eg improvements in what you do or who does it or how much time and money you spend on it. As said before, you can use the reports to see what is working and what isn’t and then be able to, with confidence, determine/ramp up/cut back on certain activities and channels and use your limited resources in the right and most appropriate way.
Then finally, you double down on what is working within your marketing.
Outsourcing the ROI and measuring your marketing
Do you want to grow your business with capacity and also capability?
Do you need your marketing to be consistent but without you being bogged down with the day to day detail?
Are you limited on time to manage/oversee your businesses marketing yourself?
Would you like your marketing/team set up, well organised and proactive?
Do you need signposting to the right marketing suppliers and support?
Should I do marketing over the summer?
Are you a b2b (business to business) company such as an accountant to an SME or an insurer to a client or an HR consultant to a business owner? Are you thinking summer is only around the corner and as the summer/Q3 is normally quiet for b2b’s then now might be a good time to cut back on the marketing, and save some money over July and August? If you are thinking this, please RETHINK! The quieter months can be the best time to market as you have more time to think about this and dedicate to marketing and more time to chat to your marketing agency. And then use the summer to get the marketing consistent again ready to hit the ground running by generating leads and converting these to sales from September onwards.