How to Evaluate Your Marketing Campaigns
What is “Multi-channel Marketing”?
It is a digital strategy that combines multiple channels with the intention of reaching the target audience. It also allows you to use those channels that would work best for your company’s goals.
In the modern world and competitive marketplace, businesses utilize multiple platforms for reaching out to new customers. While promoting your brand or business using several channels can be a great thing to do, it is also necessary to have good analytical tools to evaluate your multi-channel marketing efforts.
An integrated or multi-channel marketing campaign may include (but not limited to):
- Paid Media: Direct marketing, print ads, and online ads.
- Earned Media: Public relations, blogging, influencer marketing, and organic search.
- Owned Media: Websites, customer services, social media, and direct marketing via email, mail, or mobile devices.
- Other lead sources: Referrals, repeat customers, and networking, etc.
The channels you decide to use are based on your brand identity, target market, and business goals in order to get the most out of each channel. However, more often than not businesses are striving to use ALL the available platforms to promote themselves.
But do you have to use all the platforms? Is it the best approach?
Select the Winning Platforms for Multi-channel Marketing
The steps needed to execute the campaign can vary depending on the media you choose and your campaign goals.
- First, focus on selecting the channels that serve your purpose the best and will help you to reach your goals. For example, a B2B marketing plan will look different than a B2C plan and will utilize different advertising platforms and vehicles.
- Set the campaign goals and expectations. It is especially important for the earned media platforms – know the goals that you are trying to achieve with your content.
- Select the metrics you will focus on – leads, inquiries, clicks, traffic, video views, etc. Define a successful campaign for your business for a particular campaign.
- Analyze the success of each of the channels used. Metrics that can be used in evaluating success may vary as well: video views, referral traffic, response rate, conversion rate, cost per lead, number of leads, and the quality of leads.
- If possible, use marketing tools that allow you to look at all the numbers and information in one place (HubSpot, Google Analytics)
- Revise the final data to better your strategy and figure out how each channel or activity impacts and contributes to your goals.
These metrics can be a good and reliable source of success indicators for your campaign. Hence, after all of these, you can use the data to re-evaluate your channels, adjust or change your message, and better your tactics in order to penetrate your target market more effectively.
Remember, it is important to compare apples to apples rather than apples to oranges
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. As mentioned above, the multi-channel approach yields different results and serve different purposes. So, it’s important to have a good time period to evaluate various campaigns and lead quality.
We suggest having campaigns running several times in a period of 6 months so that you can establish your median response rate and then compare the results again at the end of the 12-month period between ALL campaigns and identify your winner.
The winner takes it all!
The last but not the least step – is to focus your budget and efforts on your best-performing platforms and campaigns and put on hold the others in order to optimize your marketing efforts. However, do keep in mind that the marketplace and trends are constantly changing and new platforms are popping up. So, be open-minded to test and adjust your marketing strategy again in the near future.