Long gone are the days when Marketing was viewed as art and craft. Over the period of time it has evolved completely as a data driven domain powered by conversion rates, click-to-open percentages, SEO, keyword analytics, and submission rates.
Marketing initiatives are the prime mover of any business and more often than not, a sound documented strategy is required to achieve it. As a digital marketing agency, as you work with clients, it is very important to define and understand these initiatives well for your clients and then set clear paths to go out and achieve it in acceptable time-frames. However, a lot of organizations fail either to improve the metrics or get extensively delayed leading to the marketing objectives being sub optimally met.
The most important & key metric to track when measuring the effectiveness of your marketing campaign is the cost to acquire a single new customer. This simple statistic will help you evaluate the overall rate of growth of your business.
So how can you ensure effectiveness of your marketing initiatives?
Have a clear project blue-print and make it available to the team with the expected completion dates and a clear understanding of the dependencies involved. Keeping the ownership of relevant tasks on individual team-members is important, so that they can innovate and excel at the work they are delivering.
There are also things that you have to take into account when measuring the effectiveness of a marketing campaign, but one towers over all the rest, ROI. Click through rates or response rates are great information to look at but if they do not result in revenue for the business, then you might be spinning your wheels and not getting any real traction.
Invest in reporting dashboards by working groups, so that you get a clear view of the current status of the project and improve.
At Xenia, our strong process metrics ensures that every activity that has been executed has clear metrics defined, which are tracked on a regular basis. It is because of this culture, that we are able to deliver results consistently to our clients. Having a team that has strong accountability and transparency ensures that your projects stay on track and you are able to deliver the scope and meet your client expectations.
We have a mantra. Listen to your customers, else you will have none.
Now the question arises how does it benefit you as an agency?
Improved process metrics ensures seamless execution of your marketing initiatives and thereby an improved ROI. We provide all optimization metrics and a unified view of all communications across all channels and devices so that you as marketers look at bigger picture and plan out tactical needs.
Xenia helps improves metrics across your marketing initiatives.
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Atul is Founder & CEO at Xenia Consulting. He has over 22 years of experience in marketing, across corporates as well as SME,start-ups. Over the last 5 years, he has gained significant expertise and has helped several companies drive growth leveraging digital marketing