If you are an emerging brand, chances are that you have hired a digital marketing agency to leverage your online assets. All the money thrown into marketing channels is starting to look inordinate when you realize that there is pretty much nothing to show for it. On one hand, you have a digital marketing agency running full-fledged campaigns but failing to deliver on grand promises. On the other hand, you’re presented a litany of metrics and figures that have nothing to do with your ROI. Any hard-working business would be anxious to know whether the agency in charge of your marketing initiatives is actually worth it’s salt, or if they actually know what they are doing. After all, you expect nothing short of profit from marketing campaigns.
“Believe it or not, the vast majority of self-anointed marketing experts are inept at proving the effectiveness of campaigns ad spend, and outcomes”.
Wait, you are joking, right?
Well, actually no!
For starters, take a look at this study published by The Fournaise Marketing Group back in 2014 just so you get an idea about where the industry might be headed.
Now let’s hear the marketer fraternity utter that famous line once again: “Your marketing is only as good as your measuring”. This may strike some as a jejune generalization of the sort, but to be very honest, most marketing agencies today are so busy planning campaigns, winning over new clients, and explaining away hairsplitting metrics that they lose sight of quantifying the actual ROI. There may be intended or unintended reasons why agencies fail to deliver correct measurement of marketing initiatives. Remember, your job is not to find out the legitimate reasons for such negligence on their part, but to see if you should move on to a different, more transparent agency.
At Mr. Digital, we never make an attempt to keep our digital marketing clients in the dark. Our focus is always on the measurement, and then on elucidating marketing results to clients with real clarity. In understanding why a typical ad agency may want to hold back the real data, you will learn how to work your way out of this marketing “Limbo”.
Evaluating the marketing data brought to you by an Agency
When all is said and done, everything about digital marketing boils down to this one little thing: Return on Investment.
Try as you may, not every digital marketing initiative can generate the desired outcome. What’s important as a marketing agency is that instead of bemoaning the shortcomings of its misfired campaigns, it should harness the data to reshape its next marketing move. The objectives of each campaign may vary, but the overriding concern will always be to generate profit, be it by enhancing the visibility of your brand online or by driving new users to your website and making them stay. Remember, all these strategies are designed with the larger picture in mind, which is to convert users into long-term clients. With most Digital agencies, just a whiff of short-term success, they start trumpeting the achievement like it is the be-all and end-all. Of course, this brings you to ask a pertinent question:
“How can you tell whether your digital marketing efforts are yielding the results you badly need?”
Well, let’s jump right into the different ways in which Mr. Digital measures the success of its marketing efforts. To make things easy for readers with the non-marketing background, we have classified our measurement techniques into two broad types, namely conversion and website behaviour.
The word Conversion may mean different things to different businesses. But in general, it is that which confirms a profitable action on a website or landing page. In order for digital marketing to be successful, you need to get more conversion. On average a marketer sees conversion types aplenty. While it is not possible to keep track of every one of those conversion types, there are certainly proven ways of tracking the relevant data. If the online sales are today the easiest conversion type to track using Google analytics, the online-to-store sales continue to baffle both digital marketers and store sales team alike.
Not everyone who comes across your online business is going to end up buying on your website. Similarly, the same people who visited your store for a product may later buy it during their website visit, or vice versa.
The only viable way to repair the rift between two departments is by persuading the online visitors to give their personal information like email address which then can be later cross-checked with the details of those who shop at the store.
Why you should monitor website behaviour
Although not as important as other conversion metrics, analyzing website behaviour will offer a more layered grasp of your marketing campaign’s effectiveness. Webmasters study site behaviour for various reasons, but none more important than turning the behaviour data into key remarketing possibilities. You have at your fingertip the buyer journey of unique users. Deciphering what pages users visited, and what elements they most interacted with is key to knowing how to retarget them once they leave your website.
Even as you funnel more money into marketing campaigns, you got to keep tabs on the organic traffic which will, in turn, help you measure the effectiveness of SEO initiatives. Watch out for anomalies in the form of a drastic drop or steep hike in traffic. The behaviour metrics like bounce rate, unique visits are indicators of what needs to be done to streamline a buyer’s road to conversion.
What to measure
At the end of the day, there is no clearly defined road map to measuring marketing results. You can get things up and running with a website behaviour audit or conversion measurement, either way, what’s important is not to be bogged down by vanity metrics. Instead, focus on your business goals and see whether the data gathered so far reflects the results your marketing efforts truly deserved.