How to Really Measure the Effectiveness of Your Digital Media Marketing
Technology has done a lot for marketing, especially in the area of metrics and data. These days we can measure just about every aspect of our marketing and get endless reports on clicks, views, follows and other actions.
But what does all this information really tell us?
There are a number of problems with relying on the bare metrics alone when measuring metrics like return on investment and cost per click. Data is useful but it doesn’t tell us everything. If we make an online sale do we know for sure it’s a result of a particular click? How about when a customer researches a product online and then comes into the store to buy it?
Another danger with relying too much on digital marketing metrics alone is that it can lead to digital marketing being separated out from other marketing strategies, and this in turn can create a disjointed marketing strategy with no consistency overall. The reality is, all marketing has an impact on sales and the business bottom line, it’s just a case of working out which are the most effective strategies and which ones are a waste of time and money.
One of the biggest weaknesses in digital reporting is that it often doesn’t tie online activities with in store sales. For many products, the majority of sales still take place in an offline platform but online advertising may be the driver. Without an effective way to measure this it’s really difficult to know what online advertising activities are actually making an impact.
It’s clear that measuring online sales as a indicator of how successful your digital marketing strategy is will not give you the full picture, so how do you get a more accurate measure of your digital marketing’s effectiveness? The trick is to link online behaviour with offline behaviour.
Rather than counting clicks and online purchases as a measure of digital marketing success, it is often more useful to look at overall exposure to a specific ad campaign and relate that to offline and online sales. If a recent online campaign is followed by a spike in offline sales and a lot of people have viewed the campaign this is a strong indicator that the offline sales have been influenced by digital marketing.
Next time you’re creating a digital campaign for your brand, why not think about how accurately you are measuring it? If you’re relying on clicks and online purchases alone your data could be wildly inaccurate and this might impact your future marketing campaigns.