Advertising is a fluid process. It never stops and is ever changing. The importance of marketing campaigns cannot be overstated. If you’re not going to put any effort in growing your customer base, your business will never grow in size or revenue. But advertising is not cheap. Therefore, you need to evaluate the effectiveness of each method to save time and money. Besides, evaluating your strategy will enable you to know what is working and what is not and how you can make the necessary adjustments.

Define the channels

You will use multiple advertising channels. Measuring the effectiveness of your marketing campaign as a whole may not give you the desired results. It will not give you specific details on how each particular channel has performed as far as generating leads, conversion rate, customer retention and other parameters of measuring the success of your marketing campaign are concerned. The best way is to deal with each channel separately.

Define your goals

The purpose of any advertising campaign is to foster the overall growth of the business. But this should not be the only basis on which you measure the success of your marketing strategy. Every ad campaign has a unique goal. You will need to be more specific if you intend to monitor the effectiveness of your advertising efforts. If an individual ad was meant to drive traffic to your site, for example, its success will depend on how many leads it generated.

How to measure the success of the campaigns

After defining the goals you hope to achieve with your marketing efforts, it’s time to look at the different ways that you can measure the success of your campaign. Of course, the methods will vary from one channel to another.

Search engine performance

You can measure the amount of traffic that your website generates and other metrics that are directly affected by traffic. Google analytics is one of the best tools that you can use to measure such parameters. They include.

• Lead conversion – It measures the number of leads who become actual customers after making the initial contact.
• Content engagement – it measures the quality of your content by determining whether readers followed through up to the actionable task.
• Click through rate – It measures the number of people who initiated the actionable step after visiting a page.
• Bounce rate – It measures how many people landed on a page and left without taking any action or visiting other pages.
• Page views – It measures how many pages a visitor visits and how much time they spend on that particular page.

Social Media Marketing

You can measure Social media marketing in two different ways: Ongoing analytics and campaign focused metrics. Ongoing analytics monitors the activities over time while campaign focused metrics examines the impact of targeted campaigns. Major social media sites have analytic tools that are built into them. These tools will help you monitor the effectiveness of the content you post and the success of the campaigns you create.

Email campaigns

If you want to measure the success of your email campaigns effectively, you will need to focus on the right marketing metrics. Here are some of the most crucial parameters that you need to track to improve the ROI of your campaigns.

• Open rate – the number of recipients who open the email
• Click through rate – the number of recipients who clicked the link inside the email
• Unsubscribe rate – the number of recipients who opted out of your list
• Bounce rate – emails that didn’t reach the intended recipient successfully
• Pay-per-click ads

There are many metrics that you can track to measure the success of your PPC marketing campaign. Some of the most important ones include;

• Quality score – it measures the relevance of your keywords
• Click through rate – the number of clicks that the ad generates
• Conversion rate – how many people performed the desired action after clicking the ad
• Cost per conversion – how much are you paying to gain a customer
• Wasted spend – how much money you’re losing because of clicks that fail to convert

Conclusion

You don’t need to guess whether an individual marketing campaign is working or not. Many tools can help you measure the different metrics to track results. You need to evaluate the success of your marketing efforts regularly. It will enable you to fine-tune your campaigns to achieve maximum results and save you a lot of time and resources.