Every single digital marketing strategy is unique to the industry of the brand and its target audiences. There’s only one constant about it, and that’s it needs evaluation. Evaluating and assessing your digital marketing strategies is key to attaining your objectives and knowing if your investment was worth it.
Many digital marketing strategies fall short because of the lack of alignment with financial goals. This is directly related to overlooking the assessment of said strategies. In fact, according to a study, only 29% of marketers believed that they were doing the right thing regarding digital marketing performance assessment.
Not evaluating how your digital marketing strategy is doing will guarantee wasted time, effort, and money. You wouldn’t want your investment to be for naught; that’s why you need to work on ways to determine your digital marketing strategies’ effectiveness. This article will discuss assessing what’s working and what isn’t in your digital marketing methods.
Evaluate your digital marketing objectives
The first thing to do when assessing digital marketing strategies is to thoroughly examine the specific objectives you want to attain. These are the real-world objectives that are the reasons why you went into digital marketing. Digital marketing will help get you to the next step of your goals, but you must define that next step.
These objectives must answer questions such as:
- Why did you create a social media account?
- Why did you invest in hiring a digital marketing agency?
- Why did you invest in creating your business’ website?
Once you’ve worked this out, you’ll be able to see if your strategies are returning your investment. You can do that by identifying which metrics should be measured. Apart from that, you’ll also be able to determine how much you should spend on digital marketing.
Defining your target customer profiles
The foundation of any effective digital marketing plan is well-constructed customer profiles. Customer profiles outline which specific types of consumers you’d like to reach through digital marketing. These provide direction to the objectives that you defined.
Knowing who you want to reach will make it easier to evaluate your digital marketing strategies. You’ll also want to develop their profiles as you continuously gather data about your target audience. You may find interesting discoveries while doing this, such as that your business may appeal to a demographic you didn’t target at all.
Once you’ve defined your target customer profiles, you can divide them into segments to see whether your strategies are reaching them accordingly. If your plan is aimed at a relatively broad audience, it means that’s the reason why you’re not getting enough leads.
Assess your messaging strategies
The messages you send you through your digital marketing campaigns are critical in yielding the results you want. If they’re not in line with what your customers expect, then that’s why you’re strategy is falling short.
High engagement rates and shares on social media are attributed to how you communicate with your customers. If your current messaging methods aren’t working, that means there’s a mismatch between your customers’ interests and your strategy.
Hence, proper research is important to identify and understand your customers’ expectations of your business during customer profiling.
Look at your ROI
Finally, you need to check your return on investment (ROI) to best evaluate your digital marketing plans. You need to track two variables to calculate your ROI: the amount you’ve invested in your campaigns and the financial gains you get from any of the conversions from each campaign.
You may not get an exact percentage of your returns, but you’ll surely find valuable data from your calculations. That data can help decide which strategy needs improvement and those that aren’t worth the money.
After conducting a thorough assessment of your digital marketing strategies, you can apply real-time improvements to them. That’s one of the benefits of investing in digital marketing; constant evaluation leads to real-time enhancements. Once you’ve made the necessary adjustments, you may set the next assessment date to see if something changed.