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Measuring Marketing Success

By: Joyce Hayne

Depending on your marketing goals and objectives, there are different techniques and metrics that can be used to measure the success of your marketing initiatives.

If your goal is to develop brand awareness, your sales reps should be tracking how familiar prospects are with your company or a new brand you’ve launched. You should also track traffic growth on your website as people learn more about your company and products.

If your goal is to develop leads, ensure the person taking inbound calls is asking, “How did you hear about us?” and tracking those results. If you are offering free demonstrations, trial periods, or a time-limited special offer in your ads, track the increase in those metrics. Develop a specific home page with your offer and track the visits to that page. You can also assign a specific QR code or toll-free phone number and track the number of responses.

If client retention is your goal, track the proportion of leads from recurring customers and also the percentage of business lost.

Client engagement can be calculated by reviewing the number of return visitors to your website, social media shares across various platforms, and growth in social media followers.

Tracking revenue can be done by detailing the number and value of deals closed weekly, monthly, or even daily if you’re running a very short campaign. Assess the long-term value of all customers in addition to the current sale, since one high-value customer can create more revenue than five low-value clients when you consider their long-term contribution to revenue.