As you review your digital marketing strategies for your business, you might have all of the right pieces in place, including a strong social media presences, a reliable newsletter, and a client list of those who signed up to receive updates about your products and services. While establishing a digital presence is a feat, it is not the whole process. Not only do you have to create digital strategies, but you also need to create marketing goals to see how well those campaigns are succeeding.
What You Should Know
- Identify your overall marketing goals. Before you delve into your more specific digital marketing strategies, what is your overall marketing goal? Are you aiming to retain customers? Increase revenue? Increase your customer conversion? Ideally, they should all be your goals, but know where your priority rests.
- Your marketing measures should be bringing in customers. The easiest way to track goals is to see how effective your marketing has been in bringing in paying clients. If you have purchased Facebook ad space, for example, how much traffic have the ads brought in? Is the cost worth it? Your goal should be set by your marketing team on how much return you should be receiving on the invested marketing costs.
- Turn your customers into repeat customers. While bringing in new customers is a great goal, it is the loyal customers who return to you again and again who will provide the greatest profit. What digital engagement efforts has your team created to increase or encourage your customers to return to you again? Customer retention can be tracked and increased through loyalty or retention programs that encourage your customers to continue to shop with you.
- Attract previous customers. Some customers will shop with you once and then not return right away. Bringing back old customers who have not shopped recently can also boost your income. The win-back ratio will need to be measured to ensure that they don’t forget about you. Set a reasonable win-back goal for your business.
Blog post by Gemfind.