The process is almost always as important as the result. Though any given marketing tactic may yield a positive return at some point, the best marketing professionals understand how to produce results time and again. The key to implementing consistently effective techniques is down to an accurate measurement of marketing performance. Marketers that are able to monitor their marketing and advertising efforts enjoy substantial advantages over their competitors who can't. Indeed, there are five reasons why measuring marketing performance is fundamental to marketing success. Check them out here:
Tangible Metrics
It’s easy for marketers to assume that every other business owner understands the importance and value of sound digital marketing. Yet, this thought is a flawed one. The truth is many marketing agencies struggle to demonstrate the value of certain marketing tactics to their clients, and as such, struggle with customer retention. By accurately tracking conversions, leads, and sales, though, marketers can put a solid dollar figure next to their labor.
Mapping the Customer Journey
Most modern consumers will interact with multiple pieces of marketing and advertising content before they ultimately decide to make a purchase. For instance, a consumer may view a TV ad, then a digital ad, then click on a social-media post before they finally reach a landing page and “convert.” The customer journey is no longer a linear one, but marketing agencies that track customer behavior can determine meaningful patterns and gain valuable insight into their customers’ decision-making process. In short, it’s not just enough to build an omni channel marketing campaign; you also have to support it with proper measuring capabilities.
Enhance Existing Content
Knowing how consumers interact (either positively or negatively) with marketing and advertising content enables marketers to manually optimize existing marketing and advertising content. However, manually making such changes can prove impractical for some agencies. Thanks to innovations in offline-to-online campaign measurement from Advocado, marketers can now gain access to products that automatically enhance digital advertising efforts. Unsurprisingly, this can lead to a significant increase in ROI and ROAS.
Generate Better Content
Just as effective measuring practices offer marketers the ability to bolster existing content, so too will it give marketers a winning outline for developing future campaigns. When professionals leverage meaningful data to form new strategies, success is sure to follow.
Increased Customer Retention
As one would expect, improved marketing results and more meaningful KPI measurement will naturally contribute to a better client-retention rate for marketing agencies. It’s important to remember that acquiring a new customer can be anywhere from 5 to 25 times more expensive than merely retaining a current customer. So even an incremental boost in retention rate could make a massive difference for marketing agencies of all sizes.
The Bottom Line
At Advocado, we aim to help marketers produce better results –– as well as convey those results in a compelling way to their customers. Contact one of our team members today to see how our innovative, sophisticated tech can benefit your team.