Step 4: Measure Your Success
For every campaign, it’s important to capture, measure and analyze your results in order to understand what works best and what is not working. You can then use this valuable information to target your marketing spend on the most effective tactics.
Tag and Track
Evaluating any campaign requires that you tag your marketing communications for tracking purposes. For example:
- Consider giving each medium a specific phone number to call or website to visit so you can attribute each lead you capture to the marketing medium that generated it.
- Be sure your website monitors traffic so you know where visitors are coming from, which pages they visit, and how long they stay.
ROI is Key
When you spend time and money on growing your business, you expect a positive return on your investment. But you can’t actually know what your return is unless you measure. Use this handy calculator to calculate the ROI of your campaign based on spend and responses.
Source of Sale Tracker
It’s important to track where your sales come from. This doesn’t require a fancy software program. Just make sure everyone in your office has a spreadsheet, similar to this one, to record their sales and where they came from. This information, compiled in a spreadsheet, will be valuable in your ROI analysis.
Your output from tagging and tracking and the ROI calculator, can help you gain a better understanding of where your sales are coming from and what it costs to generate them. Armed with that information, you can make wiser decisions on where to spend your valuable marketing dollars going forward.