There are over 50 ways to analytically determine success in marketing. What does it really mean to you? Are you measuring based on your bank account?
We use the word “people” a lot in our heads. What I mean is that we summarize a group of people and lump them into a “they.” People often say… Those type of comments are frequently exchanged around the word success. This is where I want us to gain a real definition for success. Let’s not look at life in general. That topic is way to psychological for this particular post. Let’s look at marketing specifically.
I want to look at success from a different angle. One that specifically creates a value exchange in your head. Something that will help you actually make use of and determine an emotional equation to such an ambiguous term.
Why Success Drives Most Of Us… Sometimes Crazy
Success is one of those weird words. It is something we all want. We drive for it. We have a picture mentally of what it is.
The problem is that we don’t take the time to actually measure and know if we are hitting the mark or not.
Since we focus on marketing let’s look at one of my personally favorite list. This is a list of marketing campaigns goals. Basically increases will mean we are becoming successful.
THE TOP OF THE LIST! Traffic VS. Conversion. Always keep this measurement a priority!
- Increase in unique visitors to target page or site.
- Increase in page views on publication or site.
- Total Number of Click Through’s on Campaign
- Total Number of Units Sold (Increase in % or $$ of Product Sales)
- Increase in front end of funnel request. (Info, Case Study, Sales kit, Brochure)
- Increase in number of Calls to Sales Desk or Service (unique phone number set for that campaign)
- Increase in Sales Leads
- Increase in Rankings for Keywords
- Increase in Return Visitors
- Increase in New Visitors
- Increase in Number of Pages that new visitors are coming into (THIS IS A BIG ONE)
- Increase in visitor engagement and/or loyalty
- Increase in PPC or Ad CTR or Total Click Through
- Increase in Overall Conversions
- Increase in Number of Email Subscribers
- Increase in Comments (Monthly Tracked)
- Increase in Interactions on Social Media
- Number of people who have liked your business’ Facebook fan page.
- Number of people “talking about this” on your Facebook page.
- Number of engaged Facebook users.
- The number of unique people who have seen your Facebook post virally.
- Number of check-ins via Facebook or Foursquare.
- Increase in Twitter Followers
- Number of Twitter Lists you are put into.
- Favorites or “Hearted” Twitter Posts
- Increase in Retweets or Replies
- Number of newspaper articles generated in response to a PR campaign.
- Number of times your brand was mentioned in a media article, on Facebook or on Twitter.
- Increase in PR Interview Request
- Youtube Channel Stats Increase (Views, Time on Channel, Total Time Spent Watching)
- Number of subscribers to your YouTube channel.
- Number of YouTube Collaboration Request
- Number of inbound links to your website or specific campaign landing page.
- Number of new subscribers, such as email newsletter subscribers on 1 campaign (Different from Total Number Increases Mentioned Before)
- Shift in sentiment before, during, and after social marketing programs.
- Time Spent on Specific Page or Website in General
- Percentage of traffic generated (unique clicks) from paid media.
- Percentage of traffic generated from earned media (PR efforts).
- Number of entries into a contest.
- Number of free whitepapers or case studies downloaded.
- Number of customers/prospects assisted by customer service team.
- Redemption rate for a coupon or special discount.
- Number of product reviews left on your website.
- Rate of customers/visitor retention.
- Change in market share.
- Number of click through on your email newsletter.
- Attendance generated at in-person events like a tradeshow or open house.
- Email newsletter delivery rate.
- Decrease in email newsletter’s bounce rate.
- Increase in number of email newsletter shares or forwards.
- Percentage of revenue per email newsletter sent.
- Positive comments and feedback from customers.
- Increase in customer satisfaction levels through customer research.
What Do You Do With This List?
Determine your goals before starting your marketing.
Track your marketing and compare the goals.
Discover why you are or are not hitting the marks.
Pretty easy right? Well, let me tell you the tough part.
The Real Tough Challenge of Determining Marketing Success
There are two challenges to determining marketing success.
- Market success has to be determined by revenue generated. Social media has to generate revenue. How do you determine the amount of money that social media generated. That becomes the million dollar question. That means that you have to take some form of conversion rate and apply it. The conversion rate for social media would mean that for every click through to a page you determine the number of people taking action on the page.
- You have to actually measure and stick to measuring. That simply means you can’t get busy, lazy, or distracted. This is where most “people” fall into. We just don’t keep our tab on what matters. What matters is that everyday you are increasing key metrics on your website. You have determined the path you are going to focus on. Now that path is being measured. If you see any downturn in that key metrics you can step in and fix it. If you see an increase you can determine what is causing it. That means you can repeat that success later, time and time again.
Why Marketing Success Is So Important!
If you do not have some form of measurement then you will never be able to determine success. You will not see any progress. You will not understand the progression. Causes and effects of marketing campaigns that you are performing.
It also gains a sense of clarity. Clarity will help you decide your calendar. What you measure, you manage. What you manage and have passion for you will continue to have in your calendar. You calendar will dictate your real success. Overall and in marketing.
Spending time on projects that are not bearing fruit will kill you as a marketer. Focus your time on campaigns that are producing big results!
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