Marketing - when done correctly - has always been an important way to stand out from the crowd. After the Industrial Revolution in the United States, there’s nothing new under the sun and every product and service that has ever come to market usually has a competitor following closely behind. With the popularity of digital marketing and the internet making it easier for companies to meet consumers where they are, getting your organization to stand out from the noise is the difference between longevity and being obsolete.
If you’re new to marketing or just want to make sure that your campaigns match your objectives, here’s what you should measure.
- Cost-per-acquisition. Whether it’s a net-new customer or a net-new lead, there is always a cost associated with getting someone both familiar with your product or service, and then ultimately turning into a paying customer. CPAs are measured by calculating the human resources, advertising dollars, technology, and any other marketing tactics like trade shows or events that convert someone into a paying customer. CPAs vary depending on whether your product or service is business-to-consumer or business-to-business, but should always be taken into consideration when starting new marketing campaigns.
- Social media engagement. Cost-per-click, shares, likes, comments, and reposts are all metrics to measure audience engagement on a social media campaign or post. Whether the content you’re posting or sharing is from organic (free) or paid channels, measuring the reach of that content is an important metric to gauge whether or not your audience is resonating with your posts.
- Website traffic. Regardless of what the marketing tactic deployed to get potential buyers interested in your product or service, the ultimate goal should always be to drive traffic back to your website. Email marketing, social media marketing, and paid advertisements should all be a teaser that leads up to the full story told on your website. This can be done through keyword research (SEO), content marketing, and website optimization.
If you’re interested in learning more about how digital credentials can be used to create, enhance, and positively impact marketing programs, view our on-demand webinar, “Marketing Metrics that Matter.”