For businesses to succeed, marketing, promotions, and advertisements are absolutely necessary. Without spreading information about business and its offerings, potential customers are likely to choose other, more visible providers of similar products and services. This fact necessitates the requirement for marketing.
Some business owners believe that traditional marketing is acceptable, and may net better results than doing so through digital media, this couldn’t be further from the truth. Regardless of how much a business relies on traditional compared to digital marketing, the CEO of PrMediaOnline believes that tracking performance, money spent, and every single other metric is key to success.
Businesses can utilize Excel spreadsheets, pencil and paper, or other methods of tracking information to reap the rewards of record keeping. Whenever your company starts a new round of advertising on social media platforms, take note of that and write it down. If you talk to current or prospective customers on phone, email, or social media, take not of that, too. You should pretty much record anything and everything directly marketing-related or not.
Recording the price of events you write down is important. You should even write down how many labor hours were used in communicating with customers, preparing emails for templates, and the cost of other events or actions recorded.
Arguably the most important of recording marketing-related activities is analyzing their results. If a social media marketing campaign happened directly before your website experienced a serious uptick in traffic hits, it’s obvious you should try that again. Without tracking actions taken in marketing, your business may have no idea of what actually caused positive or negative outcomes in marketing.
Be careful to not benchmark your success with other companies unrelated to your trade or sector. If you do decide to compare your business’ marketing success with other companies, make sure to benchmark against similar companies and organizations.
In analyzing your company’s marketing performance against itself and similar organizations, the result should be coming up with evaluations on whether particular activities should continue, increase, or be stopped altogether. By stacking up performance towards past results, prices paid, and competitors’ marketing success, your company faces a better chance than ever before in reaping digital marketing results.