It’s the time of year when many begin addressing marketing strategies for 2016. Planning-wise, before you formulate, it makes good sense to evaluate.
After all, your marketing plan will serve as the blueprint for your company, organization or nonprofit’s strategy – laying out what’s to come over the year ahead. And, to help judge whether your new initiatives will deliver the best possible results, it’s good to review any available marketing metrics – hard numbers that enable you to evaluate your achieved performance against your stated goals.
Of course, if you don’t yet use metrics, you’ll want to build them into your 2016 strategy. With a multi-channel marketing mix, here are a few suggestions for measurement:
- Direct Mail: Usually measured by response rates, other metrics for this tactic include qualified response rates (by those judged as serious about purchasing), order rates and customer acquisition costs.
- Email Marketing: Common metrics here include open rates (how many people who’ve opened your email) and click-through rates (the percentage of people who’ve clicked on one of your email’s links), as well as rates for deliveries, earnings, forwards and unsubscribes, among others.
- Event Marketing: Here, many marketers employ metrics to evaluate actual vs. expected attendance, cost-per lead, quality (i.e. serious) leads generated, conversions, and survey completion/abandonment.
- Website Marketing: Often sourced through Google Analytics, metrics for this tactic include total visits, new sessions (as opposed to those who are returning), channel-specific traffic (differentiating those who’ve clicked on your site directly vs. referrals from external links), and many more.
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