Mobe Training : If you can measure it, you can improve it. And in terms of marketing campaigns, if you can improve the metrics, you can increase your income.
Mobe Training : If he were around today, Claude Hopkins would be really impressed with how easy it is to measure the effect of one’s marketing efforts.
Hopkins, who passed away in 1932, was a U.S. pioneer of effective direct response advertising—how to know you’re getting the most return for your marketing dollars—which he talked about in his influential 1923 book, Scientific Advertising.
How Good Was Hopkins at Getting Results?
Mobe Training : In 1907, an advertising agency hired him for $185,000 a year to run their campaigns and that’s approximately $4.5 million today.
As it started with Hopkins, which has continued for all the years prior to the internet, the surest way to measure response to a marketing campaign was to include a coupon in ads that people could cut out and mail to claim a free sample, booklet, or other no-obligation free offer.
Mobe Training Tips:Digital Marketing
Mobe Training : With tools like Google Analytics, you can monitor various metrics for your website or landing pages and get an accurate picture of how profitable your advertising is. Here are the seven most important metrics to monitor:
- Total number of visits:This raw number of visits is the first thing to look at, preferably in relation to previous months or weeks. This way, you can know if your campaign is still strong or is falling off and needs review.
- Bounce rate: When a visitor arrives to your site but clicks away without looking at any other pages, they are said to “bounce.” Ideally, you’ll want a low bounce rate as it indicates that the content on your site is helpful or compelling.
Must See : How To Reduce Bounce Rate…
A consistently high bounce rate may indicate the opposite. However, the entire subject is a bit controversial as the information on a particular page may be so comprehensive that a visitor already gets what they were seeking with no need to look further.
- Traffic source: Visitors arrive on your site or page from somewhere. The “Acquisition” section of Google Analytics (GA) breaks those sources down into four categories: direct (using your site’s URL), referrals (other sites your visitors clicked to go to your site), organic (using search engines), or social (through social media).
A review of channel-specific traffic will reveal strength or weakness in social media marketing, content marketing, SEO, and more.
- New sessions: This GA metric will tell you the percentage of new site visitors versus the percentage of repeat visitors based on a specific time period. A high rate of repeat visitors tells you that your content is helpful and/or compelling. When that number begins to drop, you know it’s time to pay some attention to the value of your content.
The following metrics deal more with the strength of your sales efforts:
- Total number of conversions: This is a big factor in determining the effectiveness of your marketing efforts. You can track this directly on your website, depending on what you consider a conversion (an opt-in, a sale, etc.) or you can set up a “goal” in GA to track a specific action or completed activity.
- Cost per lead: If you use paid advertising, such as pay-per-click campaigns, you would divide the cost of the ad by the number of opt-ins it got. This, of course, would be calculated separately for different lead-generating channels.
- Close-to-lead ratio: What are your most effective sales pages? Who are your most effective sales people? The answer is in this question: How many leads turn into closes?
Divide the number of sales into the number of leads to get the ratio. Improve the ratio by isolating where your sales effort is weak and strengthening it using better copy or a more motivated or skilled salesperson, etc.