Your presentation for the C-suite goes something like this: “Our leads are really up, and so are visitors to our website, so we can expect some promising growth in the next quarter.” When executives ask for details about where those leads are coming from, the tension is thick in the room. You don’t know, exactly.
That’s bad enough, but what if your leads are down? Are you able to provide information about where your strategy is derailing? Talk about tension.
Big Data is revolutionizing business, and marketing should be no different. Data enables organizations to drill down to the granular level to better understand who potential customers are, what they like, and which marketing activities are most likely to convert them to customers.
And yet, marketers are woefully behind many of their fellow departments in accessing data to support their efforts. Research from ITSMA and Vision Edge Marketing indicates that 74% of marketers aren’t able to measure or report how their activities are impacting business growth.
Data is something that should be prioritized: companies that utilize customer insights to better equip their marketing teams are outperforming competitors by up to 85%.
The “Why” of Marketing Tracking
The trends shaping marketing demand a better understanding of customers, their needs, and the activities that lead to conversions. Customers demand a personalized experience, in which companies “know” them and are able to recommend products or next steps tailored to their preferences. Delivering this type of experience requires a clear understanding of the customer.
Marketing teams also need insight into which marketing activities are producing leads and conversions. The focus may be on social media, pouring resources into producing live videos for Facebook and clever Instagram contests, while the bulk of new customers are actually coming from the email newsletter.
Marketing tracking takes the guesswork out of who customers are, as well as which marketing activities are leading them to the company. With data, marketing budgets can be used more strategically to produce increased ROI.
Ready to get started? Here are a few guidelines for effective marketing tracking:
Take a Deep Dive with Customers
Connect data points to gain a clear picture of your customers. You need to see who they are, including as much detail as possible, but also understand what motivates them. It’s important to understand the goals your customers are trying to reach and where your company comes in.
Pursue Consistent Alignment
When a lead makes contact with your company, you want to be sure that they are receiving a consistently excellent experience. You don’t want multiple strategies running alongside one another, duplicating contact efforts, or worse, missing an opportunity altogether.
Take Action Based on Data
Stop tossing marketing dollars around just to see what works. You can know what works based on your data. Determine which channels and formats are most effective in your strategy, accessing details down to the best words to include in an email newsletter, and what time of day is best for posting on each of your social media platforms.
All tracking tools are not created equal. There are few solutions that effectively track every lead generation source, including SMS, billboards, phone, web, radio, and television. Ensure that choice is a comprehensive tracking tool that helps you identify your most effective marketing techniques.
DirectMail.io offers that comprehensive tracking tool you’re looking for. Take the guesswork out of marketing and gain a clear understanding of where your efforts are most effective. Contact us to get started on a better-informed, lead-producing strategy.