Is it really though?
How do I know?
If you don’t have an immediate, concrete answer or are stuck thinking “uhhhhh” then you are one of the countless marketers that are left guessing about your marketing’s performance. This is a slippery slope to be on. You could be throwing money away on a channel that isn’t working and/or neglecting your moneymaking channel without realizing it. So how do you know if your marketing is working? Analytics. You have to make sure you are tracking your marketing and run through these three questions in your head:
1) What’s my objective?
2) What are the key metrics I should be watching?
3) Am I using the data to improve?
In short, are you utilizing analytics?
Do I have an objective?
If you’re marketing something, you should. Whether it’s a Facebook page, website, or an ad (Facebook, Google, or print), you need to know whether your objective is exposure, engagement, or return. Do you want to get the word out, build a community, or see a return on your investment (sell more widgets)? Without a clear objective, you won’t know which metrics to pay attention to.
What metrics should I be looking at?
It depends on your objective. There are many important metrics to pay attention to, but the most important metrics, or key performance indicators, will be determined by your objective (and marketing channel). If your objective is exposure you’ll want to pay attention to reach, impressions, clicks, page views, etc. If your objective is engagement you’ll want to pay attention to comments, likes, repins, follows, time on site, click through, video plays, etc. If your objective is return you’ll want to pay attention to the number of people that make it through your funnel, conversion rates for each step through your lead generation form or cart, bounce rate, etc. Remember that one number is usually meaningless without taking a look at the big picture. Who cares what the bounce rate is if you’re selling widgets like crazy?
Am I using the data to improve?
I sure hope so. The great thing about analytics and data is that it doesn’t matter if it is good or bad news, it will always tell you something. It’s up to you to take the data, come to conclusions and adjust your social media page, website and advertisements accordingly. If something isn’t performing how you think it should, change it. Tracking your marketing efforts is a must, but if you aren’t adapting based on what the data is telling you, you’re wasting your time and money.
Any questions? Just ask the ‘pros!