How to Assess Your Marketing Strategies
posted October 2nd 2019, 6:26 pm by Maddy Strange
Once you've set up your marking goals, created a plan, and executed the plan, how do you know if you've been successful? How do you know if you've wasted your time? These seven things to check on will help know how to assess your marketing strategies.
How to Assess Your Marketing Strategies
To asses your marketing strategies, start by surveying your customers. There are a few ways to directly ask your customers what they think. The first is through person to person conversation. The next time you're talking to a business you market to, ask them what they think. Have a few specific questions in mind that can help guide your conversation.
The second option is to survey customers through your emails. If you are employing email marketing, utilize that audience for opinions. You can include a questionnaire in the email or you can use A/B testing. This involves sending out two different emails to half and half of your audience. For further information, this blog post about email marketing mistakes goes in depth how to utilize A/B testing. See how each group responds to each email and use that info to inform your future marketing decisions. The third option is to use an online form. Using an easy to fill out form on your website allows visitors to your website to give you their thoughts directly.
Return on Investment
Another thing to analyze is the Return on Investment (ROI) of your marketing ventures. This one is very straightforward—crunch the numbers and figure out very practically how well your marketing is working. These numbers will let you know where to spend more of your money and where it's not worth using your money.
Another simple piece of data to analyze is your sales numbers. See if they're increasing, decreasing, or staying the same. If you're gaining new sales or increased sales, this is a good sign for your marketing strategy. On the other hand, if the sales are staying the same or decreasing, pay attention to that and rethink your decisions going forward.
Some marketing ventures do not directly produce any money or sales. These marketing moves might be more focused on clicks, visits, engagement, or reputation-building. To help analyze for these focuses, track your lead generation. This kind of analysis shows how effective your strategies are for building relationships and connections with customers, rather than direct sales. Keep an eye on how your marketing effects your website traffic, newsletter subscriptions, and company contacts.
Feedback from salespeople
Feedback from your salespeople is super valuable when reviewing your marketing strategies. They're out in the field, directly dealing with the effects of your marketing and talking to businesses. Gather their opinions and thoughts—ask them what they liked, didn't like, what the customer's reactions were, and what they think you should keep or do differently.
Actions of competitors
Follow your industry competitors and their reactions to your marketing. Especially if you're a company with a big following, your competitors might take notice of what marketing strategies you're using them and try to copy them. If this is the case, you can see that they are working. If they are mostly ignored, or if they're disliked, take that into consideration for your next marketing move.
Target customer profiles
It is also important to reexamine your target customer profiles. This ties into keeping the customer first in your marketing. See how your customers gained from your marketing line up with your ideal customer profile. Use this information to edit your target customer profile or to adjust your marketing decisions.
Contact RedMoxy Communications to further discuss marketing for your company. Website development, digital marketing, and Search Engine Optimization are just some of the services we can work with your company on.