Marketing is one of the essential functions of any business. However, it’s not always easy to tell if the marketing efforts you’re making are working for your company or if they’re leading to positive outcomes for your business. This is why it’s crucial to analyze your marketing efforts regularly to see if you’re making an impact on your goals.
To help you evaluate your marketing performance, we’ve compiled a brief checklist that will help you assess your marketing efforts. As you complete each item on the list, you’ll be able to see if your initiatives are helping move your company forward.
1. Pay close attention to your traffic sources
Who are you targeting with your marketing efforts? Are they the correct targets to be reached? As you evaluate your marketing performance, make sure that you’re paying close attention to the types of traffic that you’re receiving to your website.
You can’t make money without traffic. However, you need the right kind of traffic. If you’re not seeing the traffic that you expect from your marketing efforts, then it might be time to go back to the drawing board. Identify the types of people your website should be attracting and look at what kind of traffic is landing on your site.
2. Determine your conversion rate
What percentage of people that visit your site are buying something? One of the most important metrics you should be tracking is your conversion rate, the percentage of visitors who buy from your website.
The more of your traffic that converts to customers, the more revenue you’re likely to make. By tracking your conversion rate every month, you can evaluate if trends might indicate that you’re not making the right impact with your marketing efforts.
3. How many people are repeat customers?
Another essential metric is your repeat customer rate. How many people return to buy from you after their first purchase? If you track your repeat customers, you can see any trends in the types of customers that tend to purchase multiple times. If there are, you’ll have a better idea of how to market to those customers in the future.
4. Constantly monitor user experience
Many companies are still using tracking cookies to help improve their user experience or to help track how people are using their website. If you’re not sure if cookies are the right choice for you, many other options are available. Consider using Google Analytics to track your site’s usage.
You may also consider adding a heat map to your site. A heat map is a great way to show where users are clicking on your site. You can also use this information to determine what pages are the most popular on your site.
5. Closely monitor the quality of your content
Content is a crucial part of any online marketing strategy. A website that provides good, relevant content will help people trust your site and build more connections with your company.
Content should also be tailored to the needs of your target audience. For example, if the content on your site isn’t interesting or engaging, then you’re likely to see a decline in the number of users that return to your site.
Monitoring your marketing performance is one of the best ways to understand what’s working and what’s not. By closely watching metrics like conversion rate, repeat customers, traffic sources, and content quality, you’ll be able to determine what changes should be made to improve your marketing efforts.