In light of ever-shrinking advertising budgets and human resources, marketers are under mounting pressure to do more with less so increasing ROI has never been more critical in keeping executives at bay when the monthly financial reports are published. But how do we do more with less? We get smarter.
Using Analytics to Measure Success
While this seems basic, some marketers neglect to create an analytics plan at the beginning of a campaign. Identifying key data points e.g., page views, qualified leads, sales conversions to name a few; and selecting the proper tools based on the expected data capture, will ensure accurate measurement of each tactic.
A key to any marketing program is knowing who your audience is and what appeals to their expressed interests. Undoubtedly a daunting task if you consider the size and diversity of your customer base not to mention the myriad interests at play. Sure, gender and age are a great place to start, but you need to target them with laser-focused messaging to motivate responses and close sales. Leveraging the appropriate tools and programs at the onset will ensure accurate measurement of your success but keep in mind that you may need to test and adjust once your campaign is underway.
A/B and Multivariate Testing
Refine your audience one step further withA/B or multivariate testing. Just as its name implies, A/B testing is using two distinct variations on a marketing theme such as different subject lines in an email, different images, varying colors, etc., to see which resonates more. Multivariate testing is similar but with more than one element changed and presented. While the former does seem constraining, the latter may be a challenge in identifying which component they responded to.
ROI measurement has never been more important than now. With careful application and management of your marketing campaigns, you’ll be on the road to success in no time.