Do not know how to get started on your next Digital Marketing “dish”? Check out these quick recipes.
We live in a world that is full of Digital Marketing contents – Emails, Text messages, Web feeds, Display Ads, Blogs, SEM (SEO, Sponsored search), Social Media, Mobile web/app Ads.
Have you ever wondered how all these Digital marketing tactics work? Do you even want to create your own one?
Digital marketing is not just disrupting our lives as consumers. It also pushes businesses to change their marketing from strategy to execution.
Based on research from Gartner:
- 80% of the buying journeys begin with search.
- 92% of the consumers trust social media.
- 90% of the consumers have multi-device buying experience.
Research from Marketo shows :
- 70% of the buying cycle is complete before sales is contacted.
- Content marketing generates 3X leads than traditional channels.
- Average click through rate is less than 1%.
- Top 20% marketers are 86% likely to use content marketing.
I am always fascinated by Digital Marketing. Recently I discovered the Marketo Blog and Marketo YouTube Channel as amazing resources to learn about Digital marketing. The infographic below contains the quick tips I learned from Marketo blogs and webcasts. Hopefully you will find it useful and start to launch your first Digital marketing campaign.
Last but not the least, bring the dessert.
Now you have launched your first Digital marketing campaign, how do you measure your success?
From a high level, you should measure two things:
1. The overall contribution of marketing to financial performance
2. The performance of individual marketing program
For item one, the metrics you can measure are Revenue, profitability, cash flow, conversion volume, product performance, brand health. Revenue, profit and cash are most important and all the senior executives care about them. Make sure you have them in your dashboard.
For item two, the important metric you should use is :
Revenue engine effectiveness = total revenue/ total marketing & sales investment.
It is hard to measure the performance of a single program. The reasons are:
- The program may have multiple touches on the leads (seven touched needed to convert a cold lead into sales).
- There may be multiple influencers on the buying decision.
- The money you invest today may have uncertain impact in the future.
You can attribute the all the benefits to a single marketing program or to multiple programs. Most of the analytics tools such as Google Analytics and Marketo have this capability.
The gold rule for Digital Marketing reporting is to avoid cost spending metrics.
In the end, Reporting is less important than the decisions that can improve your ROI. Make quick and smart decisions based on the information in the reports, iterate your marketing tactics and run test and target to determine the go live option are the essential next steps.