How to Evaluate Marketing Strategy Effectiveness

Wondering how to evaluate marketing strategy effectiveness? This is your guide on evaluating the success of your digital marketing strategy.

Have you hired a digital marketer, but don’t know how he is doing?

This comprehensive blog will introduce you to some interesting points that can guide you in measuring and assessing digital marketing services for your website.

Certainly, it’s a technical concept that covers the analysis of various metrics.

Also, you would need analytical tools and, above that, a continuously refining approach based on data-driven insights.

So, let’s get started to explore how you can measure the effectiveness of your online marketing services.

Easy Steps to Measure the Effectiveness of Digital Marketing Services

This is a step-by-step procedure involving some key points, which are given below:

Step 1. Set Clear Objectives and KPIs

Before measuring, you need to discover what to measure. Simply put, you need to find out the key performance indicators, or KPIs. Your marketing campaign may aim at increasing website traffic, generating leads, improving conversion rates, and boosting brand awareness. So, you need to specifically outline the KPIs, which should be very specific, measurable, achievable, relevant, and time-bound.

Here are a few examples of KPIs:

• Ensure website traffic scales by 30% in six months.
• 50 new leads per month are to be generated.
• Improve the conversion rate from 2% to 4% over the next quarter.
• Achieve a social media engagement rate of 5%.

Step 2. Website Analytics

The next step is to analyze and find insights into the web journey for users. Mostly, you need to focus on these points:

• Traffic Sources: Find out the sources of your online traffic, encompassing organic searches, ad searches, social media, referrals, and direct searches.
• Bounce Rate: The next thing to analyze is the bounce rate. It is the percentage of visitors who bounce out of your website after exploring only one page and, hence, discontinue their web journey. If it’s high, you should understand that your landing pages are not engaging, informative, and relevant.
• Session Duration and Pages Per Session: Another point to analyze is how long visitors stay engaged and how many pages they have. It shows the level of engagement.
• Conversion Rate: Calculate the percentage of visitors who complete a desired action, or CTA, which can be to fill out the form, make a purchase, etc. It helps in measuring the effectiveness of CTAs.

Step 3. Search Engine Optimization (SEO) Metrics

This step is the pillar of a digital marketing campaign’s success. Overall, its key metrics include the following:

• Organic Traffic: In order to discover an organic campaign’s success, find the number of visitors who successfully reach your website. Consider BrightEdge reports, which state that organic search drives 53% of overall website traffic. So, it is crucial to discover.
• Keyword Rankings: Tracking the ranking of keywords is crucial. It gives a real picture of SEO efforts and increased online visibility.  
• Backlinks: Sum up the number and find the quality of external links pointing to your website. High-quality links effectively enhance your website’s authority and page ranking.
• Page Load Speed: The recent Google algorithm update suggests faster-loading pages, which certainly improves the user experience and search rankings. Google findings state that 53% of mobile site visits get abandoned if the site takes longer than three seconds to load.

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Step 4. Content Performance

Digital marketing is based on content marketing because the content provides the pitch to reach out to the audience, attract them, and then, engage them. So, measuring content quality and performance is crucial.

• Page Views and Unique Visitors: Visit the pages with maximum and minimum unique visitors, and then, find points in the content that attract them.
• Engagement Metrics: Calculate the time spent on a page, how deeply the page is scrolled, and how many social shares occurred. A content marketing institute found that over 70% of digital marketers believe that content marketing maximizes engagement.
• Lead Generation: Track contact forms, and responses to other calls-to-action so that the number of leads generated can be discovered.
• SEO Impact: Analyze the impact of content on SEO efforts by tracking organic traffic and keyword rankings for specific content pieces.

Step 5. Social Media Metrics

Social media goes hand-in-hand with SEO.  It is powerful to build brand awareness and engagement. Majorly, emphasize measuring these metrics:

• Follower Growth: Find out how many followers increased on your social handle over time.
• Engagement Rate: This rate can be measured through the number of likes, shares, comments, and overall interactions. Their sum will be divided by the count of followers. The Hootsuite report highlights that the average engagement rate for Facebook posts is 0.18%, Instagram posts are 1.22%, and Twitter posts are 0.045%.
• Reach and Impressions: This can be assumed by the number of unique users and the total number of times your content is displayed.
• Referral Traffic: Assess the number of visitors who visit your website from social media platforms.

Step 6. Paid Advertising Metrics

Paid campaigns, or PPC campaigns, are online ads that run on search engines, social media, and other channels.  Analyze their performance according to these metrics:

• Return on Ad Spend (ROAS): Find out the revenue generated by online advertising. Considering a case on WordStream, which states that the average ROAS for Google ads is 2:1, which means that the revenue will be $2 for every $1 spent.
• Cost Per Click (CPC): It is the amount you invest for each click on your ad. Find out if that click brings double the cost of the amount invested.
• Click-Through Rate (CTR): It indicates the percentage of people who were impressed and, hence, clicked on your ad after seeing it.
• Conversion Rate: It denotes the percentage of clicks that met the CTA or desired action.
• Impressions: This is also a metric to analyze how many times your ad is displayed.

Step 7. Sales Metrics

Ultimately, the effectiveness of digital marketing can be determined by measuring the impact of paid and unpaid campaigns on sales.

• Revenue Growth: Discover how much sales revenue increased directly through your marketing campaigns.
• Customer Acquisition Cost (CAC): Track the total cost of acquiring new customers through digital marketing and also find sales expenses.
• Customer Lifetime Value (CLV): Calculate the prospective revenue a customer is likely to generate over their lifetime.

Conclusion

Measuring the effectiveness of digital marketing services involves multiple things. It starts with setting up clear objectives, understanding KPIs, analyzing the website and content, social media performance, etc.

Besides, you need the best digital marketing services, especially if you are a non-technical individual. This alternative will help you discover how successful your marketing efforts are.