One of the most successful ways to grow your business organically is to have a well-thought-out and crafted marketing campaign.
However, what’s even more critical than a well-thought-out marketing campaign, is the tracking and analysis of the campaign.
Without understanding the successes and failures of your marketing campaigns, you cannot effectively turn them into future successes.
Although this aspect of business marketing is one of the less glamorous or interesting aspects, it is necessary nevertheless.
Without monitoring your campaign efforts, you cannot learn what to keep and what to omit for future campaigns.
You are also likely to end up wasting your dollars if you do not monitor and track performance.
In this article, we will look at 5 ways that you can monitor your campaign performance and everything you need to know to be successful with your marketing campaigns.
Why Is Marketing Campaign Performance Important?
Although it might be easy to assume that you can build success by allowing marketing campaigns to happen without analyzing them, that simply isn’t true.
If you want to be truly successful from a business perspective with your marketing campaigns, it is important to ensure that you take the time to understand and analyze the performance of your campaigns.
One of the most important reasons for wanting to track the performance of your campaigns is to ensure that you are not carrying excess weight.
This essentially means that not every campaign you launch will be a successful one and it is important to understand which ones aren’t landing quite right.
If you launch a marketing campaign that is unsuccessful in driving traffic to your business, it will be a surefire way to lose money in the future.
If you are able to identify the campaigns that are wasting your money and efforts, you can trim the fat by ensuring that your marketing team doesn’t run a campaign like that again. This frees you up to focus on more successful campaigns.
This leads to the second reason why monitoring the performance of your campaigns is important.
Once you have identified the campaigns that are haemorrhaging money, you will also be able to identify the campaigns that have a high ROI.
It is these campaigns that you will want to invest more time and resources into to continue benefiting from them. You will also be able to use them as the basis or inspiration for future campaigns.
This will help you to use your budget more effectively and help boost your business in a more effective and quick manner.
Five Ways To Monitor Your Campaign Performance
Now that you know just how important tracking the performance of your campaign is, it is time to learn how to put it into practice. Below are 5 ways that you can monitor your campaign performance no matter what size your business is.
Ad Network Conversion Tracking
Ad network conversion tracking is one of the easiest ways to track the performance of your campaign.
The majority of networks provide a tool that allows you to track this, including Bing Ads, Facebook Ads, Google AdWords, and Instagram.
These tools provide incredible value because they allow you to easily determine which paid campaigns are actually returning results.
Ad network conversion tracking tools can provide you with insight into new sales, phone calls, app downloads, and sign-ups among others.
All of these factors can help you to quickly identify the campaigns that are costing you the most and which are effective.
Because these tools are custom built and are often already integrated into the platform that you are using, it is easy to begin using them and benefiting from the insights that they offer.
This tool can help you better manage your advertising budget by avoiding long term investment into ineffective campaigns.
Website analytics is the most basic way to track marketing campaigns.
Website analytics can allow you to see who is visiting your website, how long users spend on each page of your website, and where they are accessing your website from.
This information can help you to know which tactics procure the most clicks and engagement and how those tactics can be translated into sales, phone calls, web leads, and new customer acquisition.
As with many campaign monitoring tools, there are many options for tools that perform website analytics on the market. However, the most popular is Google Analytics.
This is the best option, especially if you are a small business that is new to tracking performance.
Most website owners use Google Analytics, and the best thing about it is that it is completely free to use.
It is also extremely easy to set up and use, with many user-friendly features.
Google Analytics works by gathering the data from each user that visits your website as well as other sources.
With this information, the program will provide you with a detailed report into the usage of your website.
The report will cover things such as bounce rate, traffic, back-links, pay-per-click campaigns, and many other useful aspects.
If you want to ease yourself into campaign performance tracking, Google Analytics is a great place to start.
Phone Call Tracking
There are many businesses that rely heavily on phone leads. This is particularly true of smaller businesses and 61 percent of local searches that are conducted via mobile end up in a phone call to the business.
However, if you want to understand how to improve the number of phone calls that your business receives, it is important to learn where the phone calls are being generated from.
The best way to implement phone call tracking is to employ the services of a company that specializes in phone call tracking. There are many reputable companies available who offer these services.
The company will usually assign different, toll free numbers to each advertising campaign that you run. This will allow them to track which campaigns generate more activity.
They will also be able to determine which platform your calls are generated from, whether it be your social media page or your website landing page. This information will allow you to determine where to best focus your campaign efforts.
CRM Sales Tracking
CRM stands for customer relationship management. There are many different platforms that track CRM sales and produce one of the more powerful tools for performance tracking.
CRM sales trackers are primarily used in the management of your sales process. These tools allow you to create individual and personalized profiles for each of your prospects and customers.
On these profiles you can list names, addresses, contact information, referral information and any other pieces of information that can help you better understand your business.
CRM sales tracking platforms can also be an incredibly valuable and powerful tool in tracking the performance of your marketing campaigns.
With these platforms you are likely able to sort and filter your tracking by customer ID, referral, or any other aspect of your customers that has been logged into the CRM platform.
This feature allows you to track your campaigns in real time and against real terms to ensure that your tactics are returning results.
KPI stands for key performance indicators. KPI tracking focuses on tracking and recording the performance of your marketing campaigns by combining all four of the methods mentioned above.
The four methods of tracking that have already been outlined are essential in managing and tracking marketing performance. It is important to review all of them from time to time, but this is something that many businesses forget.
Not tracking all of these components can lead to an increased spend on marketing campaigns that aren’t returning enough benefit either financially or in terms of traffic or impressions.
It can be difficult to remember to implement and review all of the components mentioned above, especially when you are overseeing other aspects of your business too.
That is where KPI tracking comes in. Most KPI tracking comes with a dashboard that allows you to view all of the important metrics that allow you monitor your campaign performance.
Many KPI tracking platforms analyze all of the elements for you and produce a weekly report to allow you to see how well your campaigns are performing.
These reports are also formatted to be suitable to share with stakeholders in your business so that they can be kept informed of how you are marketing the business.
A KPI tracker can be a useful tool whether you are a brand new small business or if you are the CEO of a large multinational.
Monitoring the performance of your marketing campaigns is one of the most important steps in ensuring that you are getting the maximum benefit from your marketing budget.
There are many different ways that you can measure different aspects of your campaign. There are also platforms that allow you to monitor all of the important metrics via a single, user-friendly dashboard.