When it comes to your company expenditure, it goes without saying that marketing is likely to be one of your most significant and certainly your most essential expenditures. If you are not taking the correct steps to increase your customer base, then it is unlikely that your company revenue will grow. It is for this reason that it is critically important that your marketing campaigns are effective – they can mean the difference between the continued success, or the failure of your business.
The only problem with this is that most companies do not have access to an unlimited marketing budget. Therefore, it is important to examine just how effective your marketing campaigns have been to see what has worked and what hasn’t. If you are able to use a marketing agency, Cheshire then they will be able to help you measure the success of your marketing campaigns.
End results are important and are mainly measured by means of web traffic and sales date. When it comes to reviewing your campaign data, you need to be able to measure how much of an increase in revenue is directly related to the campaign you have been running. New sales are however just one of the signs of a successful campaign, it depends on the focus that your campaign had. Some campaigns don’t have an immediate translation into sales they may be more about increasing perceptions of your company and its brand.
Not all potential customers will make an immediate purchase during your campaign, and this is fine. It doesn’t mean your campaign was unsuccessful. This should allow you to see just what kind of “engagement” you are creating with your campaign, how much those potential customers interact with your campaign and ultimately what kind of impression you are making. In the case of email marketing you need to be looking at three things;
Opens – whether your email is engaging enough to get a high number of people interested enough to open it.
Click rates – Are people clicking and then taking action after they have read your email. In other words, are they taking some form of action?
Unsubscribe – You will always get some of these. However, if you are seeing a rise in people clicking unsubscribe then why? Are you sending too many emails? Are they simply not reaching your target market?
Time spent on your site
This is another good way to measure how successful your campaign has been. On their own traffic figures don’t mean much, if the potential customer visited your site, looked at one product and left without doing anything else then your campaign probably didn’t achieve what you wanted it to. If they looked at that one product and then looked at other items in your catalogue or signed up for alerts or a newsletter then your campaign had some real value, they were interested in your company and what you had to offer. They may simply not have been in a position to make a purchase financially.
The key to understanding how successful your campaign has been is truly understanding what you were hoping to achieve from the campaign. An immediate increase in sales is, of course, great. But, raising brand awareness and getting your products out there can be just as important if not more so when it comes to conducting a successful marketing campaign that can have potential benefits for your company in the longer run.