Today the importance of online marketing is bigger than ever – be it via social media or digital advertising, there is absolutely no way businesses can circumvent it. But with so many digital channels and marketing possibilities coming up, it is important to understand the relationship between each of them and how they can work together in a complementary manner.
While marketers do a lot of research before creating their campaigns, there are 4 things that most of them often miss – and that causes their marketing efforts to not reap the desired results. Here’s taking a look at them:
1. Measuring ROI driven metrics
Many marketers simply measure every metric that they possibly have access to, instead of focusing on those that really matter to the campaign. This leads to a waste of valuable resources and production of misleading data, that impacts the performance of future campaigns.
Focus on measuring metrics that indicate the growth of your business – those that lead to conversions. For example: how many products are you selling, what is the size of your potential target segment, what is the end goal of your campaign, what’s the next step after achieving the goal, etc.
Streamlined analysis of campaign metrics make it easier for businesses and marketers to gauge its effectiveness. This in turn helps them make decisions about the next campaign, the budget they need to allocate for it and the revenues that they should expect.
2. Behavior based marketing
Marketers often define their personas, what they would be looking for and then accordingly find solutions that their business can offer to them. But more often than not, this defining is based on their knowledge of the market – so it is partially a guess work at understand their potential customers.
With the age of big data already set in, marketers don’t really need to guess what their customers want or how they will behave – both online and offline. Marketers now have access to search patterns, activity and engagement patterns with advertising, and the conversations that they have on social media regularly. Making use of behavioural data can help marketers make data driven decisions that are bound to get results.
Tools like Google Trends, Social Mention, Sprout Social, Keyhole, etc are great places to understand what your target audience is up to. There are also a lot many personalization tools that help you create real-time customer experiences based on their interests.
image courtesy: Business 2 Community
Data driven marketing is also known to uncover new opportunities in the market. Need examples? Here are 3 awesome examples of behavior based marketing.
3. Alignment with business goals
There is a new networking app, social platform or a marketing tool that gets launched every other day, promising to make your life easier and offering an opportunity to market to the same audience in a different way. While some of them might work, others just tend to deviate marketers from the end goals of the business.
The truth is that in their strive to keep up with the changing trends, marketers often end up experimenting with their campaigns – which more often tend to waver from the initial campaign goal. But businesses don’t really need to be present everywhere!
Before deciding which social network or networking app you want to make use of in your marketing strategy, analyse what section of your target audience is present on it. Post that, evaluate the value of that segment to your business. If you think it would make a difference to your end goal, go for it!
4. Inability to accept failure
Marketers put in hours of work to create and execute campaigns. But in this ever evolving digital world, it’s hard to say that each campaign will be as successful or better than the previous one. And businesses need to understand that every marketing campaign cannot accommodate every trend in the market – no matter how many times you tweak it to suit your target audience.
The trick here is to understand why a campaign failed – who were you reaching out to, what was their response, what were the possible reasons for failure, was the messaging understandable and what are the possible changes you can make.
Be willing to make changes consistently and measure results closely to understand the ‘type’ of campaigns that work the best for your audience. Once you know what engages them and you’re able to create campaigns accordingly, it is time to experience the results you have been expecting!
Over to you
What do you think most digital marketing campaigns lack today? Is it the lack of creativity, way too much competition or simply not an optimum use of the data available?
But before you go, here are a few free marketing ebooks that you must read this year.