The thing about digital marketing strategies is that almost every company has one, even if you’re not the one actively controlling it.
Even if you’ve never spent a minute on Facebook, Twitter, Pinterest or any other Web property or it might be based on mentions of your company’s name by individual users — or by your obvious lack of participation.
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Because your presence on different digital marketing properties matters more than ever, it’s a good idea to take time out of your schedule to regularly evaluate how well your strategy is performing.
Here’s how to do it:
The first step in any good digital marketing strategy evaluation is a thorough examination of the specific goals you’ve set for yourself in the past. (Obviously, if you haven’t yet created any goals, this is the first issue you’ll want to tackle!)
Digital marketing goals include items such as:
If you’ve previously set up goals, take the time to determine whether or not you’re hitting your target projections. Also, look to see if the goals you set in the past still make sense for your company based on its current performance. If necessary, revise your goals to accommodate new objectives or to account for changes in product/service offerings.
In addition, it’s important to remember that any good digital marketing plan is founded on a series of well-constructed customer profiles that outline the specific types of people you’d like to reach through your campaigns.
So while you shouldn’t launch a new marketing campaign until you have some idea of your target customer’s demographics, interests and Web activities, you’ll also want to continually develop this profile based on your newest data.
As an example, if you set out to target young men on Facebook but find out that the majority of your “Likes” come from middle-aged women, you may need to reevaluate all elements of your marketing campaigns to account for this new customer data.
As you reexamine the types of customers you target, you’ll also want to periodically assess whether or not you’re actively participating in the right digital properties.
For example, suppose you’re in an industry that targets young women, ages 18-26. If you launched your digital marketing campaign before the advent of the social networking darling, Pinterest, you could be missing out on a potentially tremendous source of traffic if you never took the time to determine whether or not you’re active on the right sites! Get digital marketing techniques here.
Next, take a look at the specific types of messages you’re releasing as part of your digital marketing campaigns. Specifically, evaluate:
If your digital marketing message is in line with your customer’s expectations, you’ll see high levels of engagement with your branded materials, as well as a high number of social shares as people pass your content on to others. If you aren’t yet seeing these results, this could indicate a mismatch between your company’s messaging and your customers’ interests.
The last thing you’ll want to evaluate when it comes to assessing your digital marketing performance is your overall ROI. Now, calculating your exact returns can be difficult, but you’ll ultimately find that the data you’re able to produce is well worth your efforts.
To measure ROI, you’ll need to track two different variables:
For a rough idea of how this looks, imagine that your company has spent $500 on digital marketing materials and $500 in labour hours to promote them. Now, if you determine that inbound visitors from social networking websites have accounted for ten sales at $20 each (for a gross profit of $200 total), you can see that you’ll want to scale back or realign your digital marketing efforts.
If on the other hand, you would notice that visitors from one particular social media website have accounted for 80 percent of those sales, you may decide to refocus your efforts to concentrate on the traffic streams that have proven most valuable to your company’s bottom line.