What Metric Do You Use To Measure Your Online Marketing Campaign Success?
Each online marketing campaign needs to be measured in some way to see if it’s worth the time, effort or money. What metric do you use to measure success?
Many business owners, especially the DIYers, have a tendency to choose the wrong metric when they try to determine the success or failure of an online marketing campaign.
Good SEO firms will tell you the same thing I have been telling business owners that ask me what the most important metric is and that is conversions or profits.
Here’s an excellent article in Forbes my in SEO professional that agrees with me. http://www.forbes.com/sites/joshsteimle/2013/10/10/seo-focus-on-the-only-metric-that-matters/
As the article states, you can focus on many things to measure success and some of them are:
- Bounce Rate (time on site)
- and more
The two things that should matter the most to you are whether the visitor to your page took the action you want to them to and then whether or not that action ultimately led to a sale.
If a visitor joined your mailing list to get the freebie that you offered but they never ended up making a purchase, then that particular conversion was of no value to you.
Admittedly, some people that opt in to your mailing list may stay on your list for years and faithfully read every message you send them before they make a purchase. There are multiple reasons that this may happen and some of these are:
- The perceived value of your free offering be may not have been of a high enough to fully gain their trust.
- The timing may not have been right for them so that they could take immediate action on the product or service that you are selling.
- Their cash flow may not have been high enough for them to purchase your product or service without putting themselves in a financial bind.
Whatever the reason was for not making a purchase, the fact that they open and read your messages means that there is an interest so they are worth keeping on your list.
The people that join for your freebie that either unsubscribe right away or sit on your email list and never read your messages or rarely read them aren’t worth having on your mailing list because they are not your ideal customer. If these people do eventually make a purchase, the chances are high that they will either request a refund right away or they will be a support nightmare.
The reality is that business growth happens when you make more than you spend. If you track what makes new customers contact you and where they originated, you can scale up faster.
Share this with your friends and acquaintances then leave your thoughts below.
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