The Entrepreneur’s Guide To Evaluating Digital Marketing And ROI
Every entrepreneur is passionate about their brand and the success of his company, but often times it can be difficult to monitor all the moving components of a business. Since nobody can do it all, we have put together a guide to help you evaluate your digital marketing practices and help keep your team on track to grow your business. The guide below explains what to watch and the best practices for achieving your online goals.
Inspect And Adjust Your Goals
It is important to repeatedly examine your business goals to ensure that your marketing strategy is focused on achieving results. Take a look at your current goals and see how effective your digital marketing plan has been at producing results.
If necessary, adjust your goals to reflect current efforts and increase the effectiveness of your available resources. New goals should be measurable and held to deadlines. Discuss your new goals with individual teams and hold members responsible to meet expectations.
Examine Audience Segments
According to eMarketer, 91 percent of executives are planning a more programmatic approach to audience segmentation by 2016. This means it’s time to take a fresh look at your target audience segments as your brand develops. As your business, industry, customers, and marketing tools continue to change, it is crucial to occasionally reevaluate your market segments and explore new opportunities.
Analyze marketing data to identify audience segments that offer the highest return on investment. Classify new audience segments based on performance and customer feedback.
Analyze Digital Presence
Another common problem for marketers is not being able to see the forest through the trees. Like the cobbler’s children, your brand can sometimes be the last to get the proper digital attention it needs.
Set a regular schedule to audit your own brand’s digital assets and explore the obstacles and opportunities faced as a whole and within individual channels. Calculate where you are getting the most engagement, what types of content generates the best engagement and which platforms are performing best. Identify areas that have been ignored and can be improved, then update your marketing strategy accordingly.
Reexamine Your Messaging Strategy
Nearly 50 percent of companies leverage a content marketing plan, so it is essential to be strategic in your development. The tone and voice of a brand express its personality and values. In today’s digital landscape, producing content is more important than ever for increasing exposure in search and connecting with your users, so ensure you are reflecting your brand in the right light.
Validate that your content focus and voice is in-line with what your customers expect from your brand. Take a close look at what content resonates with your audience and experiment with new styles of messaging. By adjusting your strategy you can improve how content is shared and increase your reach online.
Take a close look at your website analytics to determine the effectiveness of various marketing efforts. By analyzing where traffic is coming from and which campaigns result in the highest conversion you can understand where to allocate your resources and how to transform your strategy.
Establish goal tracking in Google Analytics to track conversion data at a glance. Keep a close eye on analytics and evaluate your marketing strategy frequently to avoid unexpected shifts in campaign metrics and wasted resources.
8 Questions To Ask Your Team
1. What is the main focus on our marketing team?
2. What audience segments are the most engaged?
3. How has website traffic changed in the last 6 months?
4. What keywords do our content rank highest for in search?
5. How is our marketing budget being spent?
6. What marketing practices are generating the most leads?
7. How much does each lead cost us?
8. What purpose does our company’s website fulfill?
Be keeping a watchful eye on internal marketing efforts, entrepreneurs can help prevent missed opportunities. Develop actionable plans with measurable goals and hold individual teams responsible for monitoring progress and cultivating success. By consistently putting your brand in review and keeping digital marketing strategies relevant, your brand can increase its ROI and develop more quality leads through online marketing.