By Damien Edmonds (4 minute read).
As we approach the end of the financial year, you may be starting to consider how to measure your marketing impact – that is, whether you met last year’s marketing objectives or whether your budget was well spent.
As a marketing agency, the questions we typically ask of our clients include:
- How is your business performing?
- Is marketing having the desired impact?
- Is your organisation getting the desired traction/engagement for business growth?
- Has your management team got full ownership of the marketing direction?
- Is there the consensus and support needed to move forward?
- Is there a tangible link between marketing and growth?
In order to answer these questions, there needs to be a clear understanding of what marketing success looks like. There also needs to be processes in place to ensure marketing metrics are providing real guidance.
It’s important to review and evaluate what’s having the most impact as this will enable your organisation to drive ongoing improvement and increased return on investment,
Here are five tips to measure marketing impact:
- In order to decipher marketing’s impact on lead generation, create clear linkages between sales and marketing activities. This is especially important when there are a range of promotional activities at work. One way to do this is to develop landing pages to monitor the contribution of specific campaign activity. Link these to specific promotional campaigns in order to more effectively evaluate initiatives.
- Develop a consistent and regular process to review and evaluate key activities and associated performance. Compare these month to month to understand how you are tracking and what gains you are making. This process will provide you with insights to understand what’s working so that you can adjust and develop campaign activities accordingly.
- Metrics, make sure you really understand their contribution. At times we see clients reporting unnecessarily complex metrics which do not tell you anything helpful. Tables of figures relating to clicks, impressions, CTRs and CPCs are not useful in themselves unless they demonstrate a positive increase and connection to sales enquiries. Working for one of our clients, over the course of a year, the content marketing campaign succeeded in increasing overall new business leads by 39% and enquiries via the website by 90%. This correlated directly with an uplift in website visits of 280%.
- Don’t assume google is responsible for all your marketing efforts just because prospects mention they have located your service website or social media page prior to making contact. In the digital age it’s likely they will have researched your offering and located your contact details online. But in the purchasing cycle, there are typically numerous touchpoints that customers encounter. Be sure you have a system in place to understand exactly how prospects heard about you and what specific marketing activities prompted their enquiry.
- Digital, is of course, a fantastic way to monitor and measure performance. If you are developing social media, EDMs and google campaigns, have benchmarking and performance metrics that link back to your broader business and marketing objectives.
If you think that, to date, marketing has not quite delivered on its promise, or that it could be more effective with greater consensus, you could employ Edmonds Marketing to run a marketing review and planning exercise on your behalf.
Edmonds Marketing is a strategic marketing consultancy helping businesses measure marketing impact.
- As a group of experienced marketing consultants, we can examine your organisation’s marketing performance.
- We employ our insights and experience to look at your market and help you understand how you’re doing relative to your competition and your objectives.
- We know each organisation is different and have developed service options to meet varying requirements.
- For further information on how we can assist your organisation to deliver effective marketing impact for 2019/2020, contact Sophy on email@example.com or call 07 3175 9905.
Image source: Shutterstock #310013051.
For more information:
- Marketing Strategy provides a comprehensive map that focuses efforts on critical factors which leads to successful outcomes.
- Set marketing goals and objectives for your business.