Marketing Metrics You Need to Be Paying Attention To
No matter what your marketing strategy is it is important that you make sure you are tracking it and making changes as your knowledge grows. If you aren’t sure what your marketing is doing it is time to start putting a concerted effort into tracking its effectiveness. Knowing what metrics to track can be a challenge, but the list below can help you to get started.
Social Media Engagement
Many companies are starting to put a lot of focus into marketing on social media. This is a great idea and an affordable way to market your business to a curated audience. However, if your social media marketing is missing the mark, you may want to do some work to figure out why your customers aren’t engaged by your content. The more engaging your social media content, the better it is for your business and the more effectively you will be able to address your audience. If your engagement is lagging, look for ways to invite your audience to engage more effectively.
If you are using emails as a marketing technique, it is important that you know how many of those emails are actually being opened. Emails that are never opened or are filtered directly to the junk folder are never seen by your customers and don’t help you to bring in more business. Sometimes making the change to text messages over emails for marketing can help you reach a broader audience. This is because text messages have a 98% open rate compared to 18% for email. That difference is huge and means that your marketing materials have a much better chance of being effective in a text message.
Return on Investment
It’s also important that you know what you are getting back for the work and budget you put into marketing. Your marketing represents a significant investment and if you aren’t earning more because of it, it’s probably not worth continuing to pursue your current path. Make sure you are always tracking how effective your marketing is and how much business it actually brings back to your company.
Marketing your business is an exciting challenge and when you are informed on what is and isn’t working, you can get much more out of it. Track your business effectively so that you can make changes as necessary. Then you will continue to learn and grow and create great things with your business.
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