I’ve repeatedly shared in this blog and on social media that my firm’s tagline is “Maximizing Results Through Research-Supported Marketing.” I will never encourage a client to start or keep doing something on the marketing front that doesn’t make sense for them, based on available data. Data on which to make decisions can be primary, i.e., a client’s data, or secondary data, i.e., data found online about others’ experiences related to particular marketing tactics or vehicles. On a related note, the end of any budget year — and for many this is the end of the calendar year — is the perfect time to look back at which of your organization’s, if any, marketing activities have worked well for you. That should inform where your marketing $$ would be best spent in 2020. Sounds like I’m stating the obvious. That it’s a “no brainer”, right?
You’d be surprised at how many organizations continue to spend money on marketing activities that either aren’t working for them or regarding which they have no idea if leads, sales, inquiries, or other desired prospective customer or customer behavior — known as “conversions” are being generated. In fact, I was prompted to write this post because I’ve witnessed both the aforementioned scenarios numerous times with prospective clients.
Now more than ever, there are so many (actually too many for this marketer’s taste) diverse marketing activities and vehicles a marketer can invest time and $ in (we’ll be discussing this further in our next blog post). A fresh, new year is the ideal time to figure out which of these have worked in the past and/or might work in the future. Because each organization employs their own specific traditional and digital marketing tactics, we can’t address each & every piece of marketing results data you should look at in this post; however, we will provide some examples below to get you thinking about the types of analyses you should be completing and why.
Even if you can’t tackle this until the new year gets underway, to maximize your 2020 marketing budget, you or your team should:
- Conduct a detailed review and analysis of your Google Analytics data to get a good handle on visitor activity and behavior:
- how/why are visitors getting to your site?
- what are they doing once they get there?
- which marketing activities are driving traffic to your site — this particular data set is critical to figuring out where to employ marketing $$ in 2020 — using reports under the Acquisition section of Google Analytics, you can see not only if visitors are coming to your site directly vs. thru organic search (finding you thru a search engine), but you can also see if they landed on your site due to your social media post or profile website links, via e-newsletter links, etc.
- If you don’t have a Google Analytics account attached to your website — make it an early 2020 goal to get one set up — you can use visitor data available thru your content management system (CMS)/website platform to look at some of the data above, but don’t expect the data to be as detailed or “rich” as Google Analytics data.
- If you’ve been running any kind of online advertising campaigns — whether they be social media, Google Ads, or banner ads — you should be able to employ reporting capabilities within the online advertising tool(s) to slice ‘n dice results. Or, if you don’t have access to reporting capabilities yourself, ask whomever set up up or from whom you purchased the ads to provide you with detailed reports on 2019 advertising results.
- And, related to the above, even if you did achieve what you consider to be a significant # of ad click-thrus at a reasonable cost-per-click (this varies by the nature of the advertising, industry, whether advertising is business-to-business, or business-to-consumer, etc.) if you didn’t cause enough new inquiries/leads or sales in 2019 to achieve a positive ROI related to your online advertising, then you should revisit your online strategy for 2020.
- Using information available in Google Analytics Acquisition Reports or using data available within social media accounts themselves, look at likes/shares/comments of your posts. If you’re not getting any of the aforementioned engagement, on one or several networks, you need to revisit the nature of the posts you’re sharing, and if you’ve already done that a few times, maybe you shouldn’t invest so much time in those non-engaging forms of social media this coming year!
- If you send out e-newsletters or e-blasts via Mail Chimp or Constant Contact, use available data in those e-mail service tools to look at results like “open rate” and “click-thru” rate to determine if your efforts on the e-communications front are worth the time and associated dollars.
Need help analyzing available marketing data, want to make sure you have the right tracking tools in place for 2020, or need help figuring out what are the appropriate tactics and vehicles to be included in your 2020 integrated marketing plan? We’re data geeks, and would love to help, so please reach out!