Measuring and Monitoring Marketing Performance – Step 1 of 5 (Getting Started)

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AnalyticsAnalytics

Step 1: Know your baseline

Before launching any marketing campaign, it’s important to understand your current levels of visibility and influence. The more detailed you can get about where your business stands now, the better you’ll be able to understand the results and value of any new marketing initiatives.

Determine your offline marketing baseline:

  • How big is your direct mailing list?
  • How many customers are buying from you per month?
  • If your business is open to the public, how much foot traffic does it get every month?
  • Historically, what kind of marketing has been most effective?
  • When people call, email or enter your place of business; where do they say they’ve heard about you?
  • What’s your marketing budget?

Determine your online marketing baseline.

To do this, you’ll want to use Web analytics, which are available for each of your online tools. You’ll also need to know your online marketing budget.

  • Websites: Online tools like Omniture and Google Analytics can provide a wide range of information, including:
    1. How many people visited your website
    2. How many pages the average visitor viewed
    3. How many visitors converted into customers
    4. How visitors found your website
    5. Where on your website visitors clicked
  • Social media: Simply look at your Facebook, Twitter and LinkedIn accounts to see how many people are connected to your business. Facebook Insights will help you measure how engaged people are with your Facebook page. There are also a number of free and paid social media listening tools that can help you understand what people are saying about your company online, even if the conversation is not occurring on one of your platforms.
  • Email marketing: Begin by identifying how many people are signed up for your email newsletter. Is the number growing? If you’re using a service such as Constant Contact or MailChimp to send your marketing emails, you’ll have access to analytics that will tell you:
    1. Who opened your email
    2. Which links were clicked
    3. How much revenue was generated
    4. How many people unsubscribed
  • Blogs: Is the number of people following your blog increasing? That’s an easy number to track, as is the number of comments. Depending on your blog host (TypePad, WordPress, Blogger, etc.), you can also find out:
    1. How many people logged on to your page this week
    2. How long the average visitor stays on your website
    3. Which other websites your blog’s visitors come from

Now that you understand the first step, move on to Step Two: Setting Goals.