In the world of digital marketing, interpreting analytics is key to gaining insight on how your campaigns are performing and areas that need improvement. Unfortunately, many businesses struggle to grasp marketing analytics, which ultimately has a negative impact on their ROI. In this article, you will find 5 simple steps that can help you better understand your marketing analytics, and therefore improve your ROI!
- Establish Your Marketing Goal
First, ask yourself the question, “What is it that I want to achieve with my campaigns?” Is it increased traffic? Increased conversations surrounding your business or service? From here, you are able to decide which specific metrics you want to use to help you decipher if your marketing efforts are achieving your goal, which we will talk more about below!
- Set Specific ROI Goals
Once you’ve established a clear marketing goal, you will want to define your ROI objective. When you set specific ROI goals, you are 367% more likely to have successful results than businesses who don’t set those goals! Bonneville Bay Area encourages businesses to remember the acronym SMART when setting ROI goals.
S – Specific
M – Measurable
A – Attainable
R – Relevant (and realistic)
T – Time-based
Using this acronym can be used as a specific guideline, or boundary line, for your ROI goals. Once you’ve set your ROI goals, make sure that you are effectively tracking your success by creating a tracking plan.
- Select Metrics That Matter
Once you’ve established marketing and ROI goals, you can select which metrics will help you best measure the success of your campaign. Make sure that you choose metrics that will reflect progress towards your goals. For example, some metrics that are vanity-focused may look impressive, but they may not reflect whether or not you are generating traffic or making conversions. Choose to focus on the metrics that will give you clarity on your progress.
- Take Advantage of Analytics Tools
There is a plethora of analytics tools that are available to help businesses increase the precision and efficiency of their digital marketing campaigns.
These tools can help with things such as:
-Handling repetitive tasks
Taking advantage of these analytics tools can help you become more effective in your campaigns, and therefore improve your ROI.
- Consider Hiring a Digital Marketing Agency
While you can certainly take these first four steps and likely see improvement in your ROI, one of the best ways to guarantee success is by partnering with a digital marketing agency in New Orleans!
Digital marketers are experts in using tools such as search engine optimization, social media marketing, digital ads, and website design to ensure that your campaigns are successful and your ROI is significantly improving. If you go this route, make sure the agency is reliable and reputable, so that you are getting the most out of all of the wonderful services that digital marketers offer!
If your analytics aren’t reflecting that you are reaching your desired marketing results, you may want to consider adjusting your campaign or using different tactics. Remember that it’s okay to decide to do things differently and change as a business, as it is a part of learning and growing!