Each marketing strategy is unique, but each need evaluation. Recent observations have shown people tend to spend “HUGE” money after advertisement but without a strategy and evaluation.
I have seen big CEO/MD/CFO spending huge to satisfy the yearly ad.budget to be spend for a product/ company/ brand without ever evaluating the outcome. (Traditional or Digital)
Some companies think that digital marketing is a magic tonic with an immediate effect that just continues on. By having presence on social media they think they done their bit but the fact is whether they really have done?
In this age of digitallyconnect, you have to be present on your space each day, each moment other wise you will be out of “consumer space”
Connecting digitally is quiet different then traditional connect. You need to envisage proper strategy with connecting masses to interact with them and spread the message you want to .
Even if you’ve never spent a minute on Facebook, Twitter, Pinterest or any other Web property, customer opinion is forming about your brand, based on mentions of your company’s name by individual users — or by your obvious lack of participation.
Because your presence on different digital marketing properties matters more than ever, it’s a good idea to take time out of your schedule to regularly evaluate how well your strategy is performing. Here’s how to do it:
Step #1: Evaluate your digital marketing goals.
The first step in any good digital marketing strategy evaluation is a thorough examination of the specific goals you want to achieve
Digital marketing goals are different in terms of different social media used , but outcome should be convergent . They include items such as:
- The number of social shares your blog posts receive
- The size of your fan base on social networking websites
- Mentions of your brand name on social media sites
- The number of positive reviews left about your company on sites like Google Reviews and Yelp
- Inbound website visitors from social networks
- Total number of conversions resulting from social traffic
The over all brand image to be developed using diff platforms and to observe that you are hitting the target.
If necessary, revise your goals/targets to accommodate new objectives or to account for changes in product/service offerings.
Step #2: Reevaluating your target customer profiles.
In addition, it’s important to remember that any good digital marketing plan is founded on a proper research of well-constructed customer profiles that outline the specific types of people you’d like to reach through your campaigns.
So while you are launching a new marketing campaign you should have some idea of your target customer’s demographics, interests and Web activities, you’ll also want to continually develop this profile based on your newest data.
As an example, if your products is targeted at Youth and if your social media activities set to target middle age persons you are going in wrong direction . You may need to reevaluate all elements of your marketing campaigns to account for this new customer data.
Step #3: Take a look at your digital presence.
As you reexamine the types of customers you target, you’ll also want to periodically assess whether or not you’re actively participating on the right digital properties /platforms.
For example, suppose you’re in an industry that targets young women, ages 18-26. If you launched your digital marketing campaign before the advent of the social networking darling, Pinterest, you could be missing out on a potentially tremendous source of traffic if you never took the time to determine whether or not you’re active on the right sites!
Step #4: Evaluate your messaging strategies.
Next, take a look at the specific types of messages you’re releasing as part of your digital marketing campaigns. Specifically, evaluate:
- Which types of messages (i.e. text-based status updates, blog posts, videos, podcasts, etc.) are performing best with your audience?
- Do the words you’ve chosen for various messaging pieces seem to resonate with your audience?
- How frequently are your marketing materials being shared virally amongst users?
- What content of yours is being circulated or liked most?
If your digital marketing message is in line with your customer’s expectations, you’ll see high levels of engagement with your branded materials, as well as a high number of social shares as people pass your content on to others. If you aren’t yet seeing these results, this could indicate a mismatch between your company’s messaging and your customers’ interests.
Be sure to test your ideas before launching the new campaign, even if the type of target users appears to be the same. Already established audiences can change over time.
If you’re expanding beyond your country’s borders, the move can bring both new risks and opportunities. An international audience often comes with cultural differences that should factor into your strategy.
Don’t hesitate to hire experts in all aspects of the target culture, if necessary. You don’t want clashes or misunderstandings coming back to haunt you.
No matter how far you seek to expand, you’ll want to test your audience, and never make assumptions about how people will receive your campaign
Step #5: Check your digital marketing ROI.
The last thing you’ll want to evaluate when it comes to assessing your digital marketing performance is your overall ROI. Now, calculating your exact returns can be difficult, but you’ll ultimately find that the data you’re able to produce are well worth your efforts.
To measure ROI, you’ll need to track two different variables:
The amount you’ve invested into your digital marketing campaigns (being sure to account for both financial investments and time expenditures), and The financial benefit of any conversions you’re tracking.
Eg. For a rough idea of how this looks, imagine that your company has spent Rs.50 k on digital marketing materials and Rs.50 k in labor hours to promote them. Now, if you determine that inbound visitors from social networking websites have accounted for 10 sales at Rs.2000 each (for a gross profit of Rs. 20,000 total), you can see that you’ll want to scale back or realign your digital marketing efforts.
There’s something to learn from both successes and failures that can help your digital marketing strategies evolve.