Tips For Analyzing The Effectiveness Of Your Marketing Operation
Jonathan Dolan, Owner at Off Main Marketing – Published on August 8, 2024
Jonathan is a LinkedIn Top Marketing Voice
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This blog post presents my contributions to a LinkedIn Collaborative Article on “Tips For Analyzing The Effectiveness Of Your Marketing Operation”. NOTE: Contributions to LinkedIn Collaborative Articles are limited to just 750 characters each. Due to their comprehensiveness, each contribution has some overlapping points with the other contributions.
I hope you find the advice and tips in this post helpful in your marketing journey!
Set Goals
(Contribution 1 of 3)
TEXT:
When setting marketing goals 🥅 for your business, first start with an overall business goal, and align it to a marketing objective.
🥖 So if a local bakery has a goal to increase sales by 20%, one of their marketing objectives could be to increase website traffic by a certain percentage.
🧰 And they can use benchmarking tools like SimilarWeb or SEMrush to view their competitors’ website traffic to determine what a good goal is for them.
.
Example using SMART:
SPECIFIC: Increase web traffic by 100% with social media & blog posts
MEASURABLE: Track all visitors with Google Analytics
ACHIEVABLE: Leverage existing following & content creation skills
RELEVANT: Directly aligns with increasing sales
TIMED: Aim to achieve within 1 year
Track Metrics
(Contribution 2 of 3)
TEXT:
Here’s 2 examples of how to tie marketing goals back to KPIs, using specific tracking tools: ⬇️
BUSINESS #1: Jewelry Store.
OBJECTIVE: Boost online sales by 30%
KPIs & TRACKING TOOLS:
▪️ # of engaged followers, and # of purchases from posts/ads: Sprout Social, Hootsuite
▪️ Average Order Value: WooCommerce, Shopify, Google Analytics
▪️ # of Cart Abandonments, and % that purchase after remarketing: Klaviyo, ReCart
.
BUSINESS #2: Consulting Firm
OBJECTIVE: Generate 200 qualified leads
KPIs & TRACKING TOOLS:
▪️ # of website visitors & form conversion rate: Google Analytics, Unbounce
▪️ # of people reached, and cost per lead: Google Ads, Meta Business Suite
▪️ # of leads, and score of how qualified each lead is: HubSpot, Salesforce
Analyze Results
(Contribution 3 of 3)
TEXT:
Here are 2 Steps to analyze, and continuously improve your marketing efforts ⬇️
1️⃣ Quantitative Analysis: First – do you have any sales from current marketing? (If no, be more consistent with your efforts, or try new ones)
But any results, even small, show if the business has a sufficient Conversion Rate, Average Order Value, Customer Lifetime Value, or any negative future ROI indicators.
2️⃣ Qualitative Analysis: Next, assess customer experience. Did it meet expectations set by marketing? Gather feedback via:
▪️Surveys/Interviews: Direct customer feedback
▪️Reviews: on Google, Yelp, etc.
▪️Social Media: Monitor brand mentions and sentiment
▪️Behavior: Use website heatmaps & session recordings to find hindrances to conversions
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