Have you noticed how much we learned since this blog started? It is amazing. Indeed, a lot has been said of how to use online tools, engage with your audience, structure a proper digital marketing campaign, and so on. But one question remains unanswered: how to know if this it is all worth it? Are you having the expected return? How to measure that in order to improve a campaign’s performance?
Well, today’s blog is my help to you in this quest of answering this core question. Truth be told, the greatest thing about online marketing is the fact that it offers you the opportunity to properly measure your campaigns outcomes. That because, unlike traditional media (e.g. TV, Radio, Magazines) – where the audience cannot be identified in isolation – online media enables you to know exactly who saw your campaign, who liked it, who did not, how they saw it and so on.
Actually, there are a thousand acronyms out there that would help you measure that, one for each occasion and purpose, but everyone needs a starting point, right?! This is mine; give it a go:
ROI
Return On Investment is probably my favorite measurement tool. That because in order to properly use it, firstly you will need to know in which grounds your brand and campaigns are currently in. That means that you and your brand should start by knowing and describing your target audience, the current audience, your goals, missions, where you want to increase traffic, which channels you want to use, etc. By doing so, you will generate a solid database, which will in the future enable the monitoring of your performance, accomplishments and what truly matters to you and the company – regardless if it is Twitter’s RTs, Facebook friends or blog readers.
You want to see some examples on how to measure the investments made? Check and try this out kid:
1. Promotional codes/coupons’ campaign can be a great way to measure success. Think about it! Coupon campaigns are an easy way to analyze how your consumers are using the coupons in your store in an everyday basis! Now think harder about this: it will generate a great amount of data – which will only help you measure your outcomes – how great is that?!
2. Now you want to know where are your consumers? Well, track your links! A great way to do so is by using Google Analytics – a gadget that can track from where your clients click are coming from (if it’s from Twitter, Facebook, blogs). That will give you a great heads on the repercussions of your campaign. Use it in your favor!
3. But what are they truly saying about my campaign? Indeed it is essential to know your customers’ feedback. And that is where Google Alerts come in. It can help you a lot with that as it follows in real time what they are saying about your brand. With this you will know if the effort put on the online media was worth and successful or not, which will then help you correct any errors and mistakes of your campaign.
Great, but when is the right time to measure ROI? Well, in this case patience is a virtue. Do not expect that from one day to the other you will be able to collect enough data to measure your campaign. You will not. That because it is not only through the number of followers and fans that a campaign lives, it is also extremely important to consider whether your brand is well positioned in search engines (e.g. Google, Yahoo), what happens when the traffic of your site increases, if you are expanding your consumer’s knowledge on your brand, and – most importantly – whether your audience is truly interested and engaged in your brand or not.
Sounding too complicated? Well, the truth is that calculating the success of a campaign is not simple, it is not an easy task – mostly because there is not a standard of how to do it – but I can tell you something 21st Century Kid, everything can be solved when there is a good plan and detailed result’s analysis behind it.
Want to see some examples of how ROI helped improve campaign performance? Check this Socialnomics’ video where it shows several campaigns and its usage of ROIs.
Did you like it?! I hope you did kid.
Now go plan yourself, good luck and remember to always share your thoughts with me.
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