When doing marketing, the most critical question to answer is, “can it be measured?” the challenge only comes if you are doing digital marketing because there are lots of metrics that need to be tracked daily. The data gathered will provide an overall understand of what is happening but won’t narrow down to your specific business goals. Online, there are thousands of standard reports all of which can be edited to get much more data. For example, Google analytics that will provide you with over 75 editable standard reports. If you explore deeper in this analytics, chances are, you will lose focus on your main goal.
This article will provide you a guide on how to define your firm’s long-term and shorter-term digital marketing objectives, how to overcome a failure when you experience one and what to do if things go wrong. It will also provide insights on the power of Key Performance Indicators (KPIs), how to set a good plan, act on it, measure it and improve it and to identify metrics that are reliable in relation to digital marketing. It will also give a guide on why you should experiment and get out of your comfort zone.
How to Select The Right Goals
First, you need to be sure that it’s worth it. Understand your expected end result. This should be done way before you embark on any digital marketing strategy. To understand your right goals, put them in two categories:
1. Business objectives
2. Tracking your particular internal progress
Basically, the main essence of goals are the expectations. They include the expectations of clients, the CEO of your firm, your boss or any other individual whose opinion must be considered when developing any business strategy. Goals in most instances, do not always fit all needs, you need to decide whether or not you will have some room for any compromise. Most importantly, keep it real. Then ensure that you are developing realistic and attainable goals. In addition to perseverance, hard work and determination as you set up this goals, the tips below can be very helpful.
Current Trends – Carryout an inclusive research to understand the main current trends within your specific industry. Here, you need to learn exactly how rapidly the industry is growing and get down to exact percentage of growth. Sites like SimilarWeb, Statista.com among others can provide you with reliable information about digital markets, traffic sources and their importance.
Knowing Your Brand – Understand the past of your firm, work on basing on its present state and think carefully about your expected future. To correctly predict the future of the market and business, you need a reliable understanding on the past. Get internal data from site like Google Tag Manager, Google Analytics among others. Be specific on vital customer information together with the type and number of transaction done over a span of several months so you are sure that your detection is accurate and you can use it to tell trend. Correct determination of trend will help tell whether or not your company/firm is usually affected by seasonality and to identify all the channels that have performed well over the studied period.
You can identify a small goal that has the potential of being expanded and work on it. But remember to ensure the goals you are setting are challenging enough for your team. This is very important for a digital marketer that is targeting great things for his or her firm.
Always use money to measure any of your company goals, it’s considered the utmost accurate indicator. The more it comes, the cheerier you become and the hire the chances of greater growth and expansion. Why work all day if you cannot even feel the fruits of your hard labour.
Tracking Your Particular Internal Progress
You can get digital marketing data from various tools and channels online which provide free SEO Audit, Competitor Audit including Social Media Audit, but all this is useless unless you try to link it to your firm’s specific goals and objectives. It is at this point that KPIs (Key Performance Indicators) become very relevant. A Key Performance Indicator can be defined as a measurement that can effectively demonstrate how a firm is achieving its main business objectives or goals.
To prevent yourself from making any uneducated marketing decision, you need to perfectly lock down Key Performance Indicators that you intend to track. Many company needs are so unique. For this reason, as you choose KPIs for your company, ensure they will not obstruct you, rather they will help achieve set goals. The KPIs that you need to avoid like plague are discussed below.
- During event marketing, most people use the total number of leads congregated during this event as a direct indicator of the success rate. In-fact, the more the leads, the cheerier one becomes. Unfortunately, this metric doesn’t correlate with the sales activities of the firm. To impress your boss or just meet a target, you desperately scan even individuals that have no interest in your line of business. Although you may achieve high leads now, most this leads may end up being useless. You would rather try establish just two sales that will help you towards reaching your quota rather than scoring a thousand useless leads.
- Don’t struggle so much to keep your unsubscribe rate at its lowest. As much as it’s an aspect that you much be keen about, it’s not a major metric in most cases. Anyone that has unsubscribed or is planning to do so may not be interested in your products or services, try to get over them and win over those that are positively interacting with your posts and messages. What you need are many individuals that accidentally subscribe to your company list and those that just open, click and directly make a purchase. your only worry could be if the subscriptions are your fault. Either you are not responding to their needs or you no longer provide the service they need.
A good example of tracking your particular internal progress would be when you want to set great goals for an SEO strategy. The main goal is to increase the amount of revenue you collect from all organic traffic. You have to narrow down to the actual number that you will target so as to achieve your long-term and short-term goals. Here, the internal processes to consider include:
- Site visibility. This include backlinks, content and rankings.
- On page user behaviour. Here, you will consider the exit or bounce rates, session duration as well as the usability.
- Make technical consideration where you will consider the site structure, accessibility, site speed as well as all redirects.
Although this groups are only three and are generic, you can be sure that they greatly vary from one website to the other. They actually depend on the exact process that you intend to focus on. The good news is that if SEO is your target, then all you need is to contact Top Seo Now and get a perfect job done on your behalf. Their team of experts will guarantee reliable and fast results.
If you determine your internal metrics well, then it will be easier for you to understand whether or not your goals are attainable. This is achieved early enough during their development stage.
Understanding the Great Power of Experimentation
Experimentation is key in any business. You can use data to understand the past but not the possible response in future especially during daring changes. This works well if you are dealing with larger numbers. Before you embark on any experimentation, ask yourself if this process has a very clear purpose. Is it doable? Is there a way of ensuring that the results achieved are very reliable? And most importantly, has the experiment produce the most value? Although some of this questions may seem obvious, it’s paramount to take enough time and try to get answers to them. It is after this process that you will decide to either proceed with the experiment or think of another way out.
A Guide on How to Plan, Act, Measure and Improve
To fully accomplish any set business goals, one has to come up with a great approach to plan, take action, measure and make relevant improvements on these goals. Digital marketing involves a series of judgement and facts. There isn’t any single analytic approach that will directly tell you that your decision is perfect. The uncertainty, doubt and hesitation in this field of marketing is unavoidable. Irrespective of the amount of data you can access, what differentiates an experienced marketer from a novice one is their ability to make good judgement basing on the valuable expertise they have nurtured over time. It’s at this point that hiring the services of “Top SEO Now” is the easier way out. If you are doing it yourself, before you embark on this approach, you need take the following into consideration.
- Ensure that entire process is measurable. For example, if are analyzing how your “buy now” button is performing, get all you need well set. This includes verifying that at the statistics are well registered in your system and that all the triggers you need are working perfectly. It is advisable to use a tool that will allow you to act freely. For example, you can try use Google Tag Manager since it will allow you to easily add any new goals and check out your user activity without having to bug your developer to urgently update some scripts.
- Prepare for failure at your first attempt. Many people get it wrong the first time they choose a metric to use. Take this as part of this entire process and needs to be viewed as a learning process. For example, if you are dealing with an online event, you might be tempted to think that the total number of subscribers is the right metric to analyze. Unfortunately, there isn’t any correction between registered users and the actual live listeners of your event. Keep trying so as to identify the perfect metric to analyze.
- Take time to determine whether the approach you have taken requires a complete replacement with a very different tactic or make just a slight adjustment to it. take for example in the social media area, you find marketers busy twitting and face booking all day without stopping to make an informed analysis. If you slow down you will realize that the number of posts you make doesn’t in any way determine the number of clicks or level of engagement from your followers or clients. In this case, therefore, concentrating on conversations is much more important that creating an impression. This will help improve your brand awareness but will not help you generate more clicks. Improved conversations tend to produce long term positive results. The bottom line at this point is to try and create a good balance and avoid any unnecessary extremes.
For example if you are using tweets, you can decide to take one month or so when you heavily tweet and another when you concentrate on conversations. Compare them and if you lose some subscribers and followers, use this to determine the exact number of tweets you need per day so as to maintain the number you are handling and possibly increase click.
In a nutshell, you need to remember that metrics are not always perfectly revealing. However, you can nowadays access enormous data which makes analytics doable. This article provided insights on a given way of defining ones business goals, managing any internal processes and the way of dealing with simple activities like measuring. It is important to identify your Key Performance Indicators and keep them on your close radar always. This is because they provide you with feedback on how fruitful all your efforts towards achieving your set business goals are.
Experiment as much as you can and set goals that challenge both you and your entire team. Avoid going to the extreme with any of the stated ideas and guidelines and work toward becoming an excellent digital marketer. If you are a beginner, don’t be afraid, just do your best to learn, even the current experts in this field stated somewhere.