Improving your campaign efficiency with metrics marketing

2015-01-24T17:19:39+00:00 By |Marketing Analytics|

The integral part of every business is attracting potential customers to the businesses’ product/service offers in a marketing campaign. Large companies can easily spend millions of dollars reaching out to an audience to build awareness, hoping that a thin margin will take interest. However, this type of overreaching campaign is very complicated and nearly impossible to determine conversion rates.

Instead, taking a more focused metrics marketing approach is actually more effective because it uses statistics in concentrated conditions to measure marketing campaigns. By setting objectives, keeping it simple, and making continuous improvements, your business can reach more interested leads and use less marketing resources with metrics marketing.

Measuring outcomes is the goal

Before committing to using a metrics marketing approach to drive your business sales, your business must clearly define its goals and what you are trying to achieve. What information do others in the organization need to make better decisions? Each business uses analytics to measure outcomes of business decisions and the statistics of web analytics can assign values to the goals of the organization. For example, your business could set a baseline goal to convert 10% of all returning visitors into sales. By measuring those outcomes over time, you can design a marketing plan so that your business can achieve that goal.

Keep it manageable

When observing the metrics of your company website, start small and keep it simple. It’s good to measure many aspects, but not so many that it becomes unmanageable. Your web analytics are only as good as how you can leverage the information to make future improvements to your site. Focus on controlling a few variables that will directly affect sales. For example, using metrics to decide a place to put a call to action button is important because it directly engages leads. Important variables to measure are: unique visits, page views, bounce rate, and click path.

Marketing is an ongoing experiment

Using a metrics marketing approach is not a single use strategy. Once you implement it into your site, you have to continually adapt to changing conditions. One area of the business may start to do well as a result of studying metrics, but another part of the business may need improvements. Make plans for testing and improvements to streamline site pages, reduce bounce rate, and actively engage leads. By adapting the strategy, you can use it to optimize and improve the future bottom line of your business.