If you have been tasked with improving marketing performance metrics and lead generation KPIs, there are some key areas that you need to consider and prepare to give yourself the best chance at success.
Marketers now have no choice but to embrace digital marketing as an essential part of their overall marketing strategy. Ensuring that digital marketing is included, rather than being a separate entity is crucial in achieving a seamless brand voice across all of your marketing activities, where all messages across all channels stand hand in hand, complimenting each other and achieving the results you have set out for yourself. You will then clearly be able to measure your marketing performance metrics to indicate your lead generation KPIs and where your main successes are.
Are your objectives SMART?
As with anything, clearly outlining your objectives at the start of your project is the best starting point. All objectives should be SMART (specific, measurable, aspirational, realistic, timed). This will ensure that you can accurately gauge where you are as a business and will then be able to measure this against any actions you take. This is useful for many reasons;
- Where are you now? You can gauge and record your current position in relation to competitors
- Where do you want to be? You can set out what you hope to achieve and by when
- How will you get there? Decide on how you will set out to achieve these objectives, what will you do?
- How will you measure your success? You can decide on what success will look like e.g. increase in leads, increase in products sold etc
It is important to first set your goals, measure what is currently happening, do a performance diagnosis as to why this is happening and then take corrective action accordingly. Don’t get hung up on “vanity metrics” such as “likes” and “clicks” on social media as these don’t really tell you anything. The real measure is if these visitors convert to sales - engagement metrics are much more useful. Consider with your metrics, does it help you to make a change and a decision of what you should do next. If it does, it is going to be useful, if not then perhaps you shouldn’t be measuring it.
Branding, Messaging and Methods
Deciding on what you are hoping to achieve will then allow you to plan your branding, messaging and methods by which you intend to communicate to the world. Having a solid strategy that is in tune with your market, your budget and your product will help you to implement a successful marketing campaign that yields results. Depending on the size of your budget, your objectives and what you are selling, there are many options to consider including a good mix of social media messaging, sponsored social media posts, adwords, seo strategies, website, content marketing such as email campaigns and blogs, as well as other offline marketing options can combine to create a killer campaign.
Metrics and Analytics
Having processes in place to enable you to effectively report on the successes of your campaigns is vital. Knowing your lead generation KPIs (key performance indicators) for each area is important if you are to measure what outputs are giving you what returns. Measure what channels you are using, e.g. organic, direct, social, paid, referral, email.
From this you can map out the leading indicator and what the KPI is in relation to that channel and indicator.
e.g. SEO (channel)
Site visits (leading indicator)
conversions (secondary KPI)
sales (Primary KPI) revenue
Always check that the work you are doing within your marketing efforts is working. If it is not working as you would have expected, analyse and change accordingly. Some things will always be a trial and error process, but you should always aim to make your marketing decisions based on evidence and always ensure that you are measuring everything that you do. That way you will know what is working, what isn’t working and can then ensure that you are not spending money in areas that are not giving ROI.