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How to Measure the Success of Your Current Strategy

Do you know if your current marketing strategy is successful in helping you meet your business goals?  In this age of digital marketing, the key to measuring success of your current marketing strategy and knowing what to attribute the performance to is this: Data and Analytics.

More and more companies are embracing the idea of analytics and measuring their marketing effort. However, according to B2B Data Activation Priority report by Forrester Research in 2018 based on a poll of 500 B2B professionals, only about 52 percent of companies are using data to make marketing decisions while the rest rely on intuition and experience. Less than half of those respondents claimed that their company is capable of converting data into insight to act on customer needs.

Many companies are still not sure about investing their resources into measuring and analyzing their marketing strategy because they find it difficult to manage and utilize the data correctly and effectively.

We cannot stress enough the importance of marketing analytics because it allows you to see what’s working, what needs to be improved, and whether you are meeting the level of return on your investment. It also helps you set expectations and goals for your business and its marketing strategy.

How to Start
Before deciding what to measure, make a list of questions for your business. What do you want to accomplish and what do you need to know to accomplish those goals? Design your analytics around those questions and find answers for your business. Down the road, it will be critical to keep a documented strategy for your business and performance measures.

Next, you need the right tools. A good one to get started with is Google Analytics. Google AdWords, Facebook Advertising, as well as most of the social media and email marketing platforms also offer metrics with their service. As there are numerous options available for marketing analytics tools, both free and paid, we suggest that you evaluate your business and search for tools that suit your needs.

What to Measure

  • Total Visits
  • Organic Search Traffic
  • Click Through Rate
  • Customer Acquisition
  • Customer Retention/Loyalty Rate
  • Conversions
  • Sales
  • Bounce Rate
  • Brand Awareness
  • Lead Generation
  • Engagement
  • Cost Per Lead
  • Cost Per Acquisition
  • Overall Return on Investment

If you are just getting started, start with measuring only a few marketing activities and then gradually expand. And remember that this is a long-term task. It will take time, but eventually, you will be able to understand your numbers, begin to see year-over-year trends, and make business decisions with those numbers. Analytics will lose relevance if not viewed over a long period of time.

The marketing world will never stop evolving, but the one thing that will never change is measuring its effectiveness, so you can prove the value of your marketing efforts. If you maintain a steady analytics review process, you will be making optimal decisions for your business growth.

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Organic Social Media Management

Learn how to effectively use social media to build your brand and cultivate a loyal fan base.

This consultation includes the following components:

Interview: Element212 will review:

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Recommendations:

  • Social media posting strategy
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Full Brand InsightsTM Research

Duration: 7-9 Weeks

We’ll take an in-depth look at your brand, communications & buyer’s journey to devise a comprehensive marketing strategy that works.

This consultation includes the following components:

Interview: One-on-one interviews with team members & customers or clients to uncover:

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  • Customer persona
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Survey: Online customer & team surveys

Analysis: Current marketing audit

  • Marketing Collateral
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Report & Recommendations: In-depth overview of your customer’s and team member’s brand perceptions along with a comprehensive marketing strategy and a Gantt timeline for the following:

  • Integrated marketing communications
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General Marketing Strategy

Duration: 14 days

Ready to step up your marketing? We’ll identify opportunities and develop a plan that capitalizes on those findings.

This consultation includes the following components:

Interview: Half-day team interview to uncover:

  • Company growth goals
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Survey: Online customer & team surveys

Analysis: Current marketing audit

  • Marketing Collateral
  • Website audit
  • SEO audit
  • Content audit

Report & Recommendations: Data gathered to bridge the gap between customer & company perspectives with insights to shorten the sales cycle. This report includes marketing strategy recommendations and a Gantt timeline for the following: Website Social media Print marketing Digital advertising Public Relations

Agile Brand InsightsTM Research

Duration: 5 days

We’ll take a look at your brand and identify opportunities for the advancement of your marketing efforts.

This consultation includes the following components:

Interview: Half-day team interview

Survey: Online customer & team surveys

Analysis: Current marketing strategy

Report & Recommendations:
High-level overview of your customers’ & team members’ brand perceptions along with marketing strategy recommendations and a Gantt timeline.

Buyer's Journey Research

Duration: 3 days

We’ll help identify your customers’ buyer’s journey and how you can influence their purchasing decisions.

This consultation includes the following components:

Interview: Up to 10 customer interviews

Survey: Online quantitative customer survey

Analysis: Secret Shopping (when applicable)

Report & Recommendations: Insights into the decision-making process your customers go through when researching, considering, and ultimately deciding where they make their purchase. This report also includes marketing recommendations along with a Gannt timeline.

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Duration: 7 days

Let’s take a look at your team’s internal and external communication processes and identify opportunities for improvement.

This consultation includes the following components:

Interview: Half-day team interview

Survey: Online anonymous team survey

Analysis: Secret shopping (when applicable)

Report & Recommendations: Insights report showing gaps and opportunities for internal communications & processes and marketing recommendations with a Gantt timeline.