At first glance, this would seem to be a rather elementary topic. After all, one of the best ways to tell your marketing strategy is working is whether or not you’re generating more revenue after a suitable time period has passed. However, while this is indeed a significant measure of failure or success, there are other aspects to consider.
Are You Seeing an Uptick in Traffic?
A strong marketing strategy is going to bring more people in to take a look. So how much of an increase in traffic are you seeing? How much of it is organic from search? How much came in directly from your advertisements and social media? Paying attention to where your new visitors are coming from will give you a strong idea of what’s working and what isn’t. When you see you’re getting better traction in certain areas, redouble your efforts in those to make them even more effective.
How Long Do Those New Visitors Stick Around?
More traffic is always a wonderful thing, but an even better thing is when those new visitors spend enough time on the site to see what it’s about—and buy something. In other words, your marketing efforts are definitely working when the majority of the new visitors to the site “take off their shoes and sit a spell.” Better known as your “bounce rate,” most sites see 50 to 55 percent of new visitors stay on the page. Anything over 60 percent is considered fantastic. In other words, your marketing strategy is working rather well when your bounce rate is 40 percent or less.
What’s Your Click-Through Rate?
If first-time visitors are drawn to your blog by your content marketing efforts, how many click through to your ecommerce pages? If you set up a store using free website templates like those of a software provider like Shopify, you’ll get a suite of analytics designed to help you measure this activity. If you’ve successfully woven contextual links into your content as part of your marketing strategy, you should be seeing some pretty strong numbers in this area.
Do They Convert?
Obviously, the goal of this endeavor is to convert visitors into buyers. When people do click through to your ecommerce pages are they also buying? What are they buying? How much are they spending? Track the activities of your sites’ users so you can get a firm grasp upon their responses to your efforts.
You should be able to discern how many purchases were influenced by your blog content, the average amount of those purchases and how effective that aspect of your site is at generating revenue. If the numbers show steady growth, your strategy is working. If they don’t, it’s time to see what needs adjusting.
Is the ROI Sufficient?
When you measure the sales you made against the amount you spent to attract the new visitors, does the return on the investment (ROI) pencil out? How much did it cost to get each one of those new visitors? Did they spend more on your site than you spent to get them there and stock the merchandise they bought? As we alluded to at the beginning of this article, the absolute best one of the five ways to tell your marketing strategy is working is if you made more profit after implementing it than you did before putting it into play.
Keep in mind, while increased sales are absolutely desired, exposure is important too. Sometimes people just look around a new site, then comparison-shop another one before returning and making a purchase. If you can them to visit, you’ve got a chance to sell them.